Fiscal 2007 1st Quarter conference call
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): August 9, 2006
AMERCO
(Exact
Name of Registrant as Specified in Charter)
|
Nevada
|
1-11255
|
88-0106815
|
|
(State
or Other Jurisdiction of Incorporation)
|
Commission
File
Number
|
IRS
Employer
Identification
No.
|
1325
Airmotive Way, Ste. 100, Reno, Nevada 89502-3239
(Address
of Principal Executive Offices)(Zip Code)
(775)
688-6300
(Registrant's
telephone number, including area code)
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:
| |
—
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
| |
—
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
| |
—
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
| |
—
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
Item
2.02. Results
of Operations and Financial Condition.
The
information in this Current Report on Form 8-K is being furnished and shall
not
be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), or otherwise subject to the
liabilities of that section. The information in this current report shall not
be
incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933, as amended, except as shall be expressly
set forth by specific reference in such filing.
Exhibit
99.2 contains certain “non-GAAP financial measures” as defined in Item 10(e) of
Regulation S-K of the Exchange Act. We describe one of these non-GAAP financial
measures as “EBITDA plus Lease Expense” (which represents pretax earnings before
interest expense, depreciation and amortization and lease expense). EBITDA
plus
Lease Expense is not intended to represent cash flow from operations as defined
by generally accepted accounting principles in the United States (“GAAP”). The
presentation of this financial information and other “non-GAAP” financial
measures is not intended to be considered in isolation or as a substitute for
the financial information prepared and presented in accordance with GAAP. In
particular, EBITDA plus Lease Expense should not be considered as a replacement
to cash flow as a measure of liquidity. It is intended to provide additional
information with respect to our ability to meet our future debt service, capital
expenditures and working capital requirements.
We
also
describe the non-GAAP financial measure, “EBITDA” (which represents pretax
earnings before interest expense, depreciation and amortization). EBITDA is
not
intended as a substitute for cash flow from operations as defined by GAAP and
it
is only one factor our management looks at as an indicator of operating
performance and is not an alternative to cash flow as a measure of liquidity.
In
particular, management uses EBITDA to provide additional information with
respect to our ability to meet our future debt service, capital expenditures
and
working capital requirements. Management uses both of these non-GAAP
measures for internal comparisons to our historical performance and liquidity
as
well as comparisons to our competitors’ operating results. We believe these
non-GAAP financial measures are useful to investors in allowing for greater
transparency with respect to supplemental information used by management in
its
financial and operational decision making. We also believe that both management
and investors benefit from referring to these non-GAAP financial measures in
assessing our performance and when planning, forecasting and analyzing future
periods.
Exhibit
99.2 reconciles each of these non-GAAP financial measures to the most directly
comparable financial measure calculated and presented in accordance with GAAP.
Investors should note that these non-GAAP financial measures involve judgments
by management and other companies may define these terms differently.
Item
9.01. Financial
Statements and Exhibits.
(d)
Exhibits
99.1 Transcript
of AMERCO’s First Quarter of Fiscal Year 2007 Investor Call and GAAP
reconciliation.
99.2 Information
about non-GAAP financial measures.
99.3 Earnings
Release issued August 9, 2006
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
August 16, 2006
AMERCO
/s/
Jason A. Berg
Jason
A.
Berg
Chief
Accounting Officer of AMERCO