Ahern Rentals Third-Quarter Equipment Rental Revenue Up 13 Percent

Ahern also said the increased equipment rentals and related revenues resulted from an increase in the number of units available for rent. The company said capital expenditures have increased the average original cost of its rental fleet to $815 million in 2008 from $650 million in 2007, offset by a decrease in the average dollar utilization to 44 percent in 2008 from 48 percent in 2007. In addition, Ahern said average rental rates decreased 5 percent and the average time utilization for high-reach equipment was 70 percent for 2008 compared to 72 percent in 2007.