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UPDATE 1-H&E Equipment Services Q1 loss narrows
May 5, 2011 / 11:38 AM / in 6 years

UPDATE 1-H&E Equipment Services Q1 loss narrows

* Q1 loss/shr $0.19 vs $0.35 a year ago

* Q1 revenue rises 18 pct

* Sees losses to moderate for rest of 2011 (Follows alerts)

May 5 (Reuters) - H&E Equipment Services Inc posted a narrower quarterly loss, helped in part by higher equipment rental revenue, and said it expects its losses to moderate for the rest of the year on improvement in industrial construction markets.

The company, which provides parts and services for cranes, industrial lift trucks and earthmoving equipment, reported a quarterly net loss of $6.5 million, or 19 cents a share, compared with a loss of $12.1 million, or 35 cents a share, a year ago.

Revenue rose 18 percent to $134.9 million. Equipment rental revenue increased 33 percent to $48.5 million.

Analysts on average had expected a loss of 13 cents a share on revenue of $143.1 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $17.88 on Wednesday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Gopakumar Warrier)

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