Content analysis
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
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H.S. freshman Bad
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New words:
de, dur, favorable, freight, moving, NaN, shipping, source
Removed:
decrease, Likewise, provision, receipt, timing
Financial report summary
?Management Discussion
- The Company had net losses of $532 thousand and net income of $6 thousand for the respective three months ended September 30, 2021 and 2020. The current quarter net loss reflects increases in total operating revenues, total operating expenses, and other loss when compared to the prior year period.
- Total operating revenues increased by $91 thousand primarily due to increases in operating lease revenues, other revenue and gains recognized on lease asset sales. Operating leases revenues increased by $38 thousand largely due to higher rates on re-leased equipment. Other revenue was higher by $27 thousand largely due to revenues derived from the Fund’s direct financing lease which commenced during the current year. In addition, the Fund recognized $26 thousand of gains from the sale of lease assets during the current period. There were no sales of assets during the prior year period. Such increase in total operating revenues was more than offset by a $363 thousand increase in total operating expenses and a $266 thousand increase in other loss.
- Total operating expenses increased primarily due to a significant increase in freight and shipping fees and railcar maintenance costs. Freight and shipping fees increased by $313 thousand due to costs associated with transporting rail cars from storage facilities for sale or re-lease. Railcar maintenance costs increased by $84 thousand, largely due to an increase in off-lease railcar inventories.