Mobile Mini, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2017. Total revenues were $123.5 million and rental revenues were $114.7 million, as compared to $124.5 million and $117.4 million, respectively, for the same period last year. The company reported net income of $10.2 million, or $0.23 per diluted share, in the first quarter of 2017, as compared to net income of $11.0 million, or $0.25 per diluted share, for the first quarter of 2016. On an adjusted basis, first quarter net income was $10.9 million, or $0.25 per diluted share, as compared to adjusted net income of $12.4 million, or $0.28 per diluted share, for the first quarter of 2016. Adjusted EBITDA was $41.7 million compared to $46.2 million a year ago. Income from operations was $23,893,000 against $26,195,000 for the first quarter of 2017. Income before income tax provision was $15,482,000 against $17,711,000 for the first quarter of 2017. EBITDA was $39,148,000 against $41,372,000 for the first quarter of 2017. Adjusted income from operations was $25,122,000 against $28,443,000 for the first quarter of 2017. Adjusted income before income tax provision was $16,711,000 against $19,959,000 for the first quarter of 2017. The company generated net cash from operating activities of $32.7 million and free cash flow of $23.7 million against net cash from operating activities of $35.28 million and free cash flow of $20.9 million for the first quarter of 2017. Additions to property, plant and equipment, excluding acquisitions was $3,748,000 against $8,310,000 for the first quarter of 2017.

For the full year 2017, the company is planning to spend approximately $50 million in net CAPEX, including assets funded under capital leases, and expect to nicely expand year-over-year free cash flow.

The company's Board of Directors declared a cash dividend of 22.7 cents per share, which will be paid on May 31, 2017 to shareholders of record on May 17, 2017.