Profits fall at TAL during 2Q
TAL International Group Inc., the Purchase-based company that leases freight containers to shippers, reported net income of $35.8 million, or $1.15 a share, during the second quarter, down from net income of $40.3 million, or $1.23 a share, a year earlier.
Leasing revenues for the second quarter were $79.4 million, up from $77.9 million a year earlier.
Chief Executive Officer Brian M. Sondey said that business conditions remain challenging. But he added that the downward pressure on the shipping industry from excess container supplies has started to moderate.