MT. LAUREL, NJ
— PHH Corp. recently announced results for the quarter ended September 30, 2005. Net revenues and income for the third quarter of 2005 were $292 million and $46 million, compared to net revenues and income of $245 million and $62 million for the quarter ended Sept. 30, 2004, according to Business Wire.
Fleet-related highlights for the third quarter 2005 include:
Fleet management segment pre-tax income increased to $20 million from $15 million in the third quarter of last year.
Average fleet leased vehicles grew 2.4 percent compared to the third quarter of last year.
For the third quarter of 2005, the fleet management services segment recorded increases in all major revenue categories, which resulted in $20 million in operating income versus $15 million for the comparable quarter in 2004. These increases were due to overall unit count growth, higher average transactions for the fee based services, and higher net finance income.