News Article | May 11, 2017
HAMILTON, Bermuda--(BUSINESS WIRE)--Triton International Limited (NYSE: TRTN) ("Triton") today reported results for the first quarter ended March 31, 2017. On July 12, 2016 Triton Container International Limited ("TCIL") and TAL International Group, Inc. ("TAL") completed their previously announced strategic combination and became wholly-owned subsidiaries of Triton. In this press release, Triton has presented its results based on U.S. GAAP as well as Non-GAAP selected information for the three months ended March 31, 2017. The following table depicts Triton’s selected key financial information for the first quarter of 2017, the fourth quarter of 2016, and the first quarter of 2016 (dollars in millions, except per share data). Financial information for periods prior to July 12, 2016 is for TCIL (the accounting acquirer in the strategic combination of TCIL and TAL) only. (1) Adjusted pre-tax income and Adjusted net income are non-GAAP financial measures that we believe are useful in evaluating our operating performance. Triton's definition and calculation of Adjusted pre-tax income and Adjusted net income, including reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, are outlined in the attached schedules. “We are very pleased with Triton’s solid start to 2017, in which we clearly benefited from our market-leading scale, cost structure and operational capabilities,” commented Brian M. Sondey, Chairman and Chief Executive Officer of Triton. “The market recovery which began toward the end of last year has continued into 2017, and our operating and financial performance continue to rebound nicely.” “Throughout the first several months of 2017, market conditions have remained favorable, especially for our dry container product line. Global containerized trade growth remains moderately positive, and a number of our customers have indicated their volumes have been above expectations. The inventory of new containers and depot stocks of used containers are currently very low as we approach the traditional summer peak season for dry containers. While Triton has supported the requirements of our customers by ordering a high volume of new containers so far this year, overall new container production has been constrained by the financial challenges facing many shipping lines and leasing companies. Despite a recent dip in steel prices in China, new dry container prices remain near recent peak levels, and market leasing rates are currently above the average lease rates in our portfolio. Used container sale prices increased strongly in the first quarter, after initially lagging the increase in new container prices and market leasing rates.” “Triton’s operating and financial performance rebounded quickly in the first quarter. Container pick-up volumes and new container lease transaction activity were high, despite the fact that the first quarter is typically the weakest period for dry containers. Our average container utilization increased 1.7% from the fourth quarter of 2016 to the first quarter of 2017, and our utilization currently stands at 96.4%. Triton generated $42.7 million of Adjusted pre-tax income in the first quarter, which includes approximately $6.2 million of net negative impacts from purchase accounting. Our Adjusted pre-tax income increased over $20 million from the fourth quarter of 2016, reflecting the significant improvement in our key operating metrics.” Mr. Sondey concluded, “In general, we expect market conditions to remain favorable for at least the next several quarters. We expect the supply / demand balance for containers to remain tight, and that our key operating metrics will continue to improve. We also anticipate that we will achieve sequential growth in our Adjusted pre-tax income from the first quarter to the second quarter of 2017, reflecting further improvement in our operating performance and reduced impacts from purchase accounting. We also expect that our Adjusted pre-tax income will increase from its second quarter level through the end of the year, if market conditions remain strong.” Triton’s Board of Directors has approved and declared a $0.45 per share quarterly cash dividend on its issued and outstanding common shares, payable on June 22, 2017 to shareholders of record at the close of business on June 1, 2017. Triton will hold a Webcast at 9 a.m. (New York time) on Friday, May 12, 2017 to discuss its first quarter results. To participate by phone, please dial 1-877-418-5277 (domestic) or 1-412-717-9592 (international) approximately 15 minutes prior to the start time and reference the Triton International Limited conference call. To access the live Webcast or archive, please visit Triton's website at http://www.trtn.com. An archive of the Webcast will be available one hour after the live call through Friday, June 23, 2017. Triton International Limited is the parent of Triton Container International Limited and TAL International Group, Inc., each of which merged under Triton on July 12, 2016 to create the world’s largest lessor of intermodal freight containers and chassis. With a container fleet of over five million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis. The following table sets forth the combined equipment fleet utilization(a) for TCIL and TAL as of and for the periods indicated: (a) Utilization is computed by dividing total units on lease (in cost equivalent units, or "CEUs") by the total units in fleet (in CEUs), excluding new units not yet leased and off-hire units designated for sale. For the utilization calculation, units on lease to Hanjin were treated as off-lease effective August 1, 2016. The following table provides the composition of the combined equipment fleet as of March 31, 2017, December 31, 2016, and March 31, 2016 (in units, TEUs and CEUs): Certain statements in this release, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that include the words "expect," "intend," "plan," "believe," "project," "anticipate," "will," "may," "would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond Triton's control. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements. These factors include, without limitation, economic, business, competitive, market and regulatory conditions and the following: failure to realize the anticipated benefits of the combination of TCIL and TAL, including as a result of a delay or difficulty in integrating the businesses of TCIL and TAL; uncertainty as to the long-term value of Triton's common shares; the expected amount and timing of cost savings and operating synergies resulting from the transaction; decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; their customers' decisions to buy rather than lease containers; their dependence on a limited number of customers for a substantial portion of their revenues; customer defaults; decreases in the selling prices of used containers; extensive competition in the container leasing industry; difficulties stemming from the international nature of their businesses; decreases in the demand for international trade; disruption to their operations resulting from the political and economic policies of foreign countries, particularly China; disruption to their operations from failures of or attacks on their information technology systems; their compliance with laws and regulations related to security, anti-terrorism, environmental protection and corruption; their ability to obtain sufficient capital to support their growth; restrictions on their businesses imposed by the terms of their debt agreements; and other risks and uncertainties, including those risk factors set forth in the section entitled "Risk Factors" contained in our Annual Report on Form 10-K filed with the SEC, on March 17, 2017. The foregoing list of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Any forward-looking statements made herein are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on Triton or its business or operations. Except to the extent required by applicable law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. A Transaction costs associated with the merger of TCIL and TAL and other costs for the three months ended March 31, 2017 and 2016 were as follows: Employee compensation costs include costs to maintain and retain key employees, severance expenses, and certain stock compensation expense, including retention and stock compensation expense pursuant to plans established as part of TCIL's 2011 re-capitalization. Professional fees and legal expenses include costs paid for services directly related to the closing of the merger and include legal fees, accounting fees and transaction and advisory fees. We use the terms "Adjusted pre-tax income" and "Adjusted net income" throughout this press release. Adjusted pre-tax income is defined as income before income taxes as further adjusted for certain items which are described in more detail below, which management believes are not representative of our operating performance. Adjusted pre-tax income excludes gains and losses on interest rate swaps, the write-off of deferred financing costs, transaction and other costs, and noncontrolling interest. Adjusted net income is defined as net income further adjusted for the items discussed above, net of income tax. Adjusted pre-tax income and Adjusted net income are not presentations made in accordance with U.S. GAAP. Adjusted pre-tax income and Adjusted net income should not be considered as alternatives to, or more meaningful than, amounts determined in accordance with U.S. GAAP, including net income. We believe that Adjusted pre-tax income and Adjusted net income are useful to an investor in evaluating our operating performance because these measures: We have provided reconciliations of Net income before income taxes and Net income attributable to shareholders, the most directly comparable U.S. GAAP measures, to Adjusted pre-tax income and Adjusted net income in the tables below for the three months ended March 31, 2017, the three months ended December 31, 2016, and the three months ended March 31, 2016.
News Article | May 3, 2017
HAMILTON, Bermuda--(BUSINESS WIRE)--Triton International Limited (NYSE: TRTN) today announced that it will report its financial results for the first quarter ended March 31, 2017 after the market closes on Thursday, May 11, 2017. The Company’s management will host a conference call on Friday, May 12, 2017 at 9:00 a.m. ET to review the first quarter financial results. The conference call will be Webcast, and an archive of the Webcast will be available one hour after the live call through Friday, June 23, 2017. To access the live Webcast or archive, please visit the Company’s Web site at http://www.trtn.com. Please allow extra time prior to the call to visit the site and download any necessary software that may be needed to listen to the Webcast. To participate by phone, please dial in approximately 15 minutes prior to the start time and reference the Triton International Limited conference call. Triton International Limited (“TIL”) was created by the merger of Triton Container International Limited and TAL International Group, Inc. TIL is the world’s largest lessor of intermodal freight containers and chassis. With a container fleet of over five million twenty-foot equivalent units (TEU), TIL’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Upadhayaya R.,TAL International |
Deshpande S.G.,TAL International |
Li Q.,Uppsala University |
Kardile R.A.,TAL International |
And 7 more authors.
Journal of Organic Chemistry | Year: 2011
Using the intramolecular 5-exo-5-hexenyl radical as a key cyclization step, we previously reported an unambiguous synthesis of carba-LNA thymine (cLNA-T), which we subsequently incorporated in antisense oligonucleotides (AON) and investigated their biochemical properties [J. Am. Chem. Soc.2007, 129 (26), 8362-8379]. These cLNA-T incorporated oligos showed specific RNA affinity of +3.5-5 °C/modification for AON:RNA heteroduplexes, which is comparable to what is found for those of LNAs (Locked Nucleic Acids). These modified oligos however showed significantly enhanced nuclease stability (ca. 100 times more) in the blood serum compared to those of the LNA modified counterparts without compromising any RNase H recruitment capability. We herein report the synthesis of 5-methylcytosine-1-yl (MeC), 9-adeninyl (A), and 9-guaninyl (G) derivatives of cLNA and their oligonucleotides and report their biochemical properties as potential RNA-directed inhibitors. In a series of isosequential carba-LNA modified AONs, we herein show that all the cLNA modified AONs are found to be RNA-selective, but the magnitude of RNA-selectivity of 7′-R-Me-cLNA-G (cLNA-G) (ΔTm = 2.9 °C/modification) and intractable isomeric mixtures of 7′-(S/R)-Me-cLNA-T (cLNA-T, ΔTm = 2.2 °C/modification) was found to be better than diastereomeric mixtures of 7′-(S/R)-Me-cLNA-MeC with trace of cENA-MeC (cLNA-MeC, ΔTm = 1.8 °C/modification) and 7′-R-Me-cLNA-A (cLNA-A, ΔTm = 0.9 °C/modification). cLNA-MeC modified AONs however exhibited the best nuclease stability, which is 4-, 7-, and 20-fold better, respectively, than cLNA-T, cLNA-A, and cLNA-G modified counterparts, which in turn was more than 100 times stable than that of the native. When the modification sites are appropriately chosen in the AONs, the cLNA-A, -G, and -MeC modified sites in the AON:RNA hybrids can be easily recognized by RNase H, and the RNA strand of the hybrid is degraded in a specific manner, which is important for the design of oligos for therapeutic purposes. The cLNA-MeC modified AON/RNA, however, has been found to be degraded 4 times faster than cLNA-A and G modified counterparts. By appropriately choosing the carba-LNA modification sites in AON strands, the digestion of AON:RNA can be either totally repressed or be limited to cleavage at specific sites or at a single site only (similar to that of catalytic RNAzyme or DNAzyme). Considering all physico- and biochemical aspects of cLNA modified oligos, the work suggests that the cLNA modified antisense oligos have the potential of being a promising therapeutic candidate due to their (i) higher nucleobase-specific RNA affinity and RNA selectivity, (ii) greatly improved nuclease stability, and (iii) efficient RNase H recruitment capability, which can induce target RNA cleavage in a very specific manner at multiple or at a single site, in a designed manner. © 2011 American Chemical Society.
TAL International | Date: 2010-08-11
A securement device is provided for securing articles such as collapsed shipping racks together for maintaining their stability and alignment. The device includes a tether that is connectable between adjacent shipping racks to secure the racks together, and that provides a clear visual indication that the racks are secured. A securement device affixed to a collapsible shipping rack may further comprise a bracket member and upper and lower pin members coupled to the bracket member, with the tether having first and second opposite end portions and the first end portion of the tether being coupled to one of the upper and lower pin members, and the second end portion being releasably attachable to another securement device of another collapsible shipping rack adjacently stacked relative to the first collapsible shipping rack.
TAL International | Entity website
FlatRack Containers FLATRACKS Not everything fits neatly into a box. Our FLATRACK specials incorporate the newest technology and safety features to accommodate easy loading and unloading, and secure transporting of odd-shaped cargo ...
TAL International | Entity website
OpenTop Containers OPEN TOPS Flexibility and functionality merge in the design of our OPEN TOP specials, and we have the worlds largest fleet at your disposal. Now theres no need to sacrifice convenience or compromise safety simply because your cargo requires the leeway of an open-top container ...
TAL International | Entity website
Select a Region NORTH AND SOUTH AMERICA EASTERN CARIBBEAN CENTRAL CANADA GULF SOUTH AMERICA WEST COAST BURLINGTON NORTHERN - CICERO EUROPE UNITED KINGDOM SCANDINAVIA GERMANY BENELUX MEDITERRANEAN SOUTH AFRICA NORTH AND SOUTH PACIFIC JAPAN AUSTRALIA FAR EAST SOUTH EAST ASIA All Ports in this Region
TAL International | Entity website
News Article | November 10, 2016
HAMILTON, Bermuda--(BUSINESS WIRE)--Triton International Limited (NYSE:TRTN), ("Triton") today reported results for the third quarter ended September 30, 2016. On July 12, 2016 Triton Container International Limited ("TCIL") and TAL International Group, Inc. ("TAL") completed their previously announced strategic combination and became wholly-owned subsidiaries of Triton. In this press release, Triton has presented its results based on U.S. GAAP as well as Non-GAAP selected information for the t