UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 5, 2010
H&E Equipment Services, Inc.
(Exact name of registrant as specified in its charter)
| |
|
|
|
|
|
| Delaware
|
|
000-51759
|
|
81-0553291 |
| |
|
|
|
|
| (State or other jurisdiction
|
|
(Commission
|
|
(I.R.S. Employer |
| of incorporation)
|
|
File Number)
|
|
Identification No.) |
| |
|
|
|
|
| 11100 Mead Road, Suite 200, Baton
|
|
|
|
70816 |
| Rouge, Louisiana |
|
|
|
|
|
|
|
|
|
|
| (Address of principal executive offices)
|
|
|
|
(Zip Code) |
| |
|
|
|
|
|
Registrant’s telephone number, including area code:
|
|
(225) 298-5200
|
|
|
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
|
|
|
| o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
|
| o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
|
|
|
| Item 2.02 |
|
Results of Operations and Financial Condition. |
On August 5, 2010, we issued a press release announcing our financial results for the three months
ended June 30, 2010. A copy of the press release is attached as Exhibit 99.1.
The information in this Form 8-K and the attached exhibit shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference into any filing
under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by
specific reference in such filing.
We define EBITDA as net income (loss) before interest expense, income taxes, depreciation and
amortization. We use EBITDA in our business operations to, among other things, evaluate the
performance of our business, develop budgets and measure our performance against those budgets. We
also believe that analysts and investors use EBITDA as a supplemental measure to evaluate a
company’s overall operating performance. However, EBITDA has material limitations as an analytical
tool and you should not consider EBITDA in isolation, or as a substitute for analysis of our
results as reported under GAAP. We consider EBITDA a useful tool to assist us in evaluating
performance because it eliminates items related to capital structure, taxes and non-cash charges.
The items that we have eliminated in determining EBITDA for the periods presented are interest
expense, income taxes, depreciation of fixed assets (which includes rental equipment and property
and equipment), and amortization of intangible assets. However, some of these eliminated items are
significant to our business. For example, (i) interest expense is a necessary element of our costs
and ability to generate revenue because we incur a significant amount of interest expense related
to our outstanding indebtedness; (ii) payment of income taxes is a necessary element of our costs;
and (iii) depreciation is a necessary element of our costs and ability to generate revenue because
rental equipment is the single largest component of our total assets and we recognize a significant
amount of depreciation expense over the estimated useful life of this equipment. Any measure that
eliminates components of our capital structure and costs associated with carrying significant
amounts of fixed assets on our consolidated balance sheet has material limitations as a performance
measure. In light of the foregoing limitations, we do not rely solely on EBITDA as a performance
measure and also consider our GAAP results. EBITDA is not a measurement of our financial
performance under GAAP and should not be considered as an alternative to net income (loss),
operating income (loss) or any other measures derived in accordance with GAAP. Because EBITDA is
not calculated in the same manner by all companies, it may not be comparable to other similarly
titled measures used by other companies.
|
|
|
| Item 9.01 |
|
Financial Statements and Exhibits. |
(d) Exhibits
| |
|
|
|
|
|
| |
99.1 |
|
|
Press Release, dated August 5, 2010, announcing financial results for the three months ended
June 30, 2010. |