Budget Group Reports $11.3 Million Net Income for Second Quarter
LISLE, Ill. -- Budget Group Inc. on July 30 announced a net income of $11.3 million for the second quarter of 2001. This translates to earnings of $0.30 per share. In comparison, last year's sec...
LISLE, Ill. -- Budget Group Inc. on July 30 announced a net income of $11.3 million for the second quarter of 2001. This translates to earnings of $0.30 per share. In comparison, last year's second-quarter net income was $9.9 million, representing earnings per share of $0.27.
"We are extremely pleased to report that despite a soft economic environment, through our strong fleet controls and careful cost and asset management, we achieved these results," said Sandy Miller, Budget Group chairman and CEO.
The average vehicle utilization for the quarter was 83.3%. But revenue per day declined 5% from the previous year as industry competitors targeted more leisure travelers to compensate for the slowdown in business travel.
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