UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):July 31, 2006
MOBILE MINI, INC.
(Exact name of registrant as specified in its chapter)
| | | | | |
| Delaware | | 1-12804 | | 86-0748362 |
| |
(State or other jurisdiction
of incorporation) | | (Commission
File Number) | | (IRS Employer
Identification No.) |
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7420 South Kyrene Road, Suite 101, Tempe, Arizona
| | 85283 |
| |
(Address of principal executive offices)
| | (Zip Code) |
Registrant’s telephone number, including area code: (480) 894-6311
None
(Former name or former address, if changed since last report)
| 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 July 27, 2006, Mobile Mini, Inc. issued a press release announcing its financial results for the second quarter ended June 30, 2006. On the same date, Mobile Mini, Inc. filed its current report on Form 8-K, to which a copy of the press release was furnished as Exhibit 99.01. In that current report, Mobile Mini provided a reconciliation of net income to EBITDA. Mobile Mini typically also provides a reconciliation of EBITDA to net cash provided by operating activities in connection with its earnings press releases. However, at the time of filing the prior current report, that data was not available. This current report sets forth below a reconciliation of EBITDA to net cash provided by operating activities (in thousands), which includes the effects of rounding:
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| | | Three Months Ended | | | Three Months Ended | | | Six Months Ended | | | Six Months Ended | |
| | | June 30, 2006 | | | June 30, 2005 | | | June 30, 2006 | | | June 30, 2005 | |
| EBITDA | | $ | 28,618 | | | $ | 24,548 | | | $ | 52,179 | | | $ | 43,583 | |
| Senior Note redemption premiums | | | (4,987 | ) | | | — | | | | (4,987 | ) | | | — | |
| Interest paid | | | (3,827 | ) | | | (1,756 | ) | | | (14,726 | ) | | | (11,011 | ) |
| Income and franchise taxes paid | | | (46 | ) | | | (129 | ) | | | (111 | ) | | | (216 | ) |
| Amortization of share-based compensation | | | 781 | | | | — | | | | 1,535 | | | | — | |
| Gain on sale of lease fleet units | | | (1,301 | ) | | | (932 | ) | | | (2,232 | ) | | | (1,722 | ) |
| Loss on disposal of property, plant and equipment | | | 11 | | | | 17 | | | | 40 | | | | 434 | |
| Deferred income taxes | | | (1,055 | ) | | | 125 | | | | (1,057 | ) | | | 197 | |
| Changes in certain assets and liabilities, net of effect of businesses | | | | | | | | | | | | | | | | |
| acquired: | | | | | | | | | | | | | | | | |
| Receivables | | | (6,851 | ) | | | (1,283 | ) | | | (5,374 | ) | | | (2,088 | ) |
| Inventories | | | (1,388 | ) | | | (6,039 | ) | | | (2,391 | ) | | | (8,621 | ) |
| Deposits and prepaid expenses | | | 283 | | | | 1,166 | | | | 290 | | | | 1,253 | |
| Other assets and intangibles | | | 257 | | | | (5 | ) | | | 47 | | | | 21 | |
| Accounts payable and accrued liabilities | | | 10,188 | | | | 4,419 | | | | 7,483 | | | | 5,120 | |
| | | | | | | | | | | | | |
| Net cash provided by operating activities | | $ | 20,683 | | | $ | 20,131 | | | $ | 30,696 | | | $ | 26,950 | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | MOBILE MINI, INC. | | |
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| Dated: July 31, 2006 | | /s/ Lawrence Trachtenberg | | |
| | | | | |
| | | Name: | | Lawrence Trachtenberg | | |
| | | Title: | | Executive Vice President and Chief Financial Officer | | |
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