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CAI International beats 1Q profit forecasts

SAN FRANCISCO (AP) _ CAI International Inc. (CAI) on Thursday reported first-quarter profit of $5.3 million.

The San Francisco-based company said it had net income of 27 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The transportation finance and logistics company posted revenue of $81.5 million in the period.

CAI International shares have increased 77 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.31, an increase of 57 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAI at https://www.zacks.com/ap/CAI

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Keywords: CAI International, Earnings Report