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What: Portable storage solutions provider Mobile Mini
So what: Revenue grew 6% from a year ago to $87.9 million and non-GAAP net income rose 6% to $5.4 million, or $0.12 per share. The problem is that the market was expecting revenue to be $89.1 million and earnings per share $0.18.
Now what: Slower-than-expected lease revenue growth was blamed for the earnings miss, but there were some positive signs. Yields were up from last year and utilization appears to be on an uptick as well. The market is expecting a big increase in earnings once we leave this seasonally weak quarter, and I'm cautious that the company's lease revenue will continue to drag on earnings. I'll sit out today and wait for better momentum in financials before jumping in.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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