Moving and Storage Business News

The News Review:

- AMERCO Reports Second Quarter Fiscal 2009 Financial Results
- Sovran Self Storage Reports Third Quarter Results
- Sovran Self Storage Inc Q3 2008 Earnings Call Transcript
- U-Haul sees uptick in moving transactions
- Public Storage Canadian Properties Announces Third Quarter 2008 …

AMERCO Reports Second Quarter Fiscal 2009 Financial Results
MarketWatch 
Listed below are revenues and earnings from operations at each of our operating segments for the second quarter of fiscal 2009 and 2008. Quarter Ended September 30,
—————————
2008 2007
———– ———–
(Unaudited)
(In thousands)
Moving & storage
Revenues $ 547,978 $ 545,568
Earnings from operations 92,850 104,979
Property and casualty insurance
Revenues 9,685 10,393
Earnings from operations 2,195 3,722
Life insurance
Revenues 34,516 34,460
Earnings from operations 5,341 3,565
SAC Holding II
Revenues — 12,162
Earnings from operations — 3,320
Eliminations
Revenues (684) (6,241)
Earnings from operations (4,864) (6,506)
Consolidated results
Revenues 591,495 596,342
Earnings from operations 95,522 109,080

The Company owns and manages self-storage facilities. Self-storage revenues reported in the consolidated financial statements for Moving and Storage represent Company-owned locations only. U-Haul also provides property management services for storage locations and earns a fee for these services. These storage centers are not owned by the Company and therefore are not reported on the balance sheet and the rental revenues are not reported in the statements of operations (except for SAC Holding II). Self-storage data for both our owned and managed locations for the second quarter of fiscal 2009 and 2008 is as follows:

Quarter Ended September 30,
—————————
2008 2007
———– ———–
(Unaudited)
(In thousands, except
occupancy rate)
Room count as of September 30 391 386
Square footage as of September 30 34,515 34,045
Average number of rooms occupied 326 335
Average occupancy rate based on room count 83.

Sovran Self Storage Reports Third Quarter Results
istockAnalyst.com (press release), OR 
Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. The Company operates 380 self-storage facilities in 24 states under the name ?Uncle Bob?s Self Storage?®. For more information, please contact David Rogers, CFO or Diane Piegza, VP Corporate Communications at (716) 633-1850 or visit the Company?s Web site at www.     SOVRAN SELF STORAGE, INC.

Sovran Self Storage Inc Q3 2008 Earnings Call Transcript
Seeking Alpha, NY 
Sovran?s actual results may differ materially from projected results. Additional information concerning the factors that may cause such differences is included in our company?s SEC filings. The copies of these filings may be obtained by contacting the company or the SEC. While our storage turned in a solid third quarter in a very competitive marketplace, same store revenues increased by 0. 2%, while the same store expenses impacted by several one-time charges increased by 6. 3% resulting in a same store NOI of minus 3.
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U-Haul sees uptick in moving transactions
Bizjournals.com, NC 
The Phoenix truck rental and self-storage company reported revenue of $591 million for the three months ended Sept. 30, down from $596 million for the same period a year ago. Do-it-yourself equipment rental revenue, however, increased $3. 5 million during the quarter, company officials reported. The company also reported increases in total moving transactions.

Public Storage Canadian Properties Announces Third Quarter 2008 …
MarketWatch 
David Singelyn, President of Canadian Mini-Warehouse Properties
Company (”CMP”), the General Partner of Public Storage Canadian
Properties (the “Partnership”) stated that “the Partnership continues
to grow its business both internally and externally with growth in
“Same Store” net operating income of 1. 2% for the third quarter, and
the acquisitions of properties located in Dorval, Quebec, LaSalle,
Quebec and Orleans, Ontario for development into a new self-storage
facilities”. Operating Results

Net income of the Partnership was $2,138,000 or $0. 24 per partnership
unit (”Unit”) (based on 9,040,181 Units) for the three months ended
September 30, 2008 compared to $1,677,000 or $0. 23 per Unit (based on
7,232,145 Units) for the same period in 2007.