CAI International, Inc. Reports Results for the Fourth Quarter and Full Year of 2010.

CAI International, Inc. (CAI) (NYSE: CAP), one of the world's leading lessors of intermodal freight containers, today reported results for the fourth quarter and full year of 2010.

Highlights for the fourth quarter and full year of 2010.

* CAI reported net income attributable to CAI common stockholders for the fourth quarter of 2010 of $0.57 per fully diluted share, a 235% increase compared to $0.17 per fully diluted share during the fourth quarter of 2009 and a 46% increase as compared to $0.39 per fully diluted share in the third quarter of 2010 (excluding the $0.11 per share related to a one time tax benefit during the third quarter of 2010).
* For the full year, CAI reported $1.56 per fully diluted share, a 105% increase compared to the $0.76 per share reported in 2009.
* Average utilization for the fourth quarter of 2010 was 98.0%, compared to the 81.9% during the fourth quarter of 2009.
* During December 2010 CAI issued approximately 1.4 million of common shares totaling proceeds of $22.4 million, net of fees and expenses.
* During December 2010 CAI entered into a $300 million, delayed draw 6 year term loan facility with a syndicate of banks and funded $185 million on the closing date.

CAI today reported net income attributable to CAI common stockholders of $10.5 million in the fourth quarter of 2010 as compared to net income attributable to CAI common stockholders of $3.1 million during the fourth quarter of 2009. Fully diluted earnings per share in the fourth quarter of 2010 was $0.57, on 18.5 million average shares outstanding, as compared to fully diluted earnings per share of $0.17 on 18.0 million average shares outstanding during the fourth quarter of 2009. For the year ended December 31, 2010, CAI reported net income attributable to CAI common stockholders of $28.4 million, or $1.56 per fully diluted share, compared to $13.6 million, or $0.76 per fully diluted share, in 2009.