AMERCO Reports First Quarter Fiscal 2008 Financial Results

August 8, 2007 Download

RENO, Nev. (August 8, 2007)--AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., North America’s largest “do-it-yourself” moving and storage operator, today reported net earnings available to common shareholders for its first quarter ending June 30, 2007, of $ 38.5 million, or $1.93 per share, compared with net earnings of $52.2 million, or $2.50 per share, for the same period last year.

“Our team is focused on improving operations for future growth and profitability. We have implemented a rate system as well as a new repair diagnostic system. We expect to see a positive impact from both of these initiatives. I am obviously disappointed with the results for the quarter. Self-storage continues on plan through expansion at existing locations, development of new properties and growth of our self-storage affiliate program,” stated Joe Shoen, chairman of AMERCO.