UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): May 6, 2009
H&E Equipment Services, Inc.
(Exact name of registrant as specified in its charter)
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| Delaware
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000-51759
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81-0553291 |
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| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
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File Number)
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Identification No.) |
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| 11100 Mead Road, Suite 200, Baton |
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| Rouge, Louisiana
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70816 |
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| (Address of principal executive offices)
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(Zip Code) |
Registrant’s telephone number, including area code: (225) 298-5200
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
TABLE OF CONTENTS
Item 2.02 Results of Operations and Financial Condition.
On May 6, 2009, we issued a press release announcing our financial results for the three months
ended March 31, 2009. A copy of the press release is attached as Exhibit 99.1
The information in this Form 8-K and the attached exhibit shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference to any filing
under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by
specific reference in such filing.
Item 8.01 Other Events.
We define EBITDA as net income (loss) before interest expense, income taxes, depreciation and
amortization. We use EBITDA in our business operations to, among other things, evaluate the
performance of our business, develop budgets and measure our performance against those budgets. We
also believe that analysts and investors use EBITDA as a supplemental measure to evaluate a
company’s overall operating performance. However, EBITDA has material limitations as an analytical
tool and you should not consider it in isolation, or as a substitute for analysis of our results as
reported under GAAP. We find EBITDA a useful tool to assist us in evaluating performance because it
eliminates items related to capital structure, taxes and non-cash charges. The items that we have
eliminated in determining EBITDA are interest expense, income taxes, depreciation of fixed assets
(which includes rental equipment and property and equipment) and amortization of intangible assets.
However, some of these eliminated items are significant to our business. For example, (i) interest
expense is a necessary element of our costs and ability to generate revenue because we incur a
significant amount of interest expense related to our outstanding indebtedness; (ii) payment of
income taxes is a necessary element of our costs; and (iii) depreciation is a necessary element of
our costs and ability to generate revenue because rental equipment is the single largest component
of our total assets and we recognize a significant amount of depreciation expense over the
estimated useful life of this equipment. Any measure that eliminates components of our capital
structure and costs associated with carrying significant amounts of fixed assets on our balance
sheet has material limitations as a performance measure. In light of the foregoing limitations, we
do not rely solely on EBITDA as a performance measure and also consider our GAAP results. EBITDA is
not a measurement of our financial performance under GAAP and should not be considered as an
alternative to net income, operating income or any other measures derived in accordance with GAAP.
Because EBITDA is not calculated in the same manner by all companies, it may not be comparable to
other similarly titled measures used by other companies.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release, dated May 6, 2009, announcing financial results for the three months ended
March 31, 2009.