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MOBILE MINI, INC ANNOUNCES RECORD YEAR-END OPERATING RESULTS; MINI REVENUES UP 43%, OPERATING INCOME UP 113% FOR 1993

 PHOENIX, April 18 /PRNewswire/ -- Mobile Mini, Inc. (NASDAQ: MINI) today announced its best operating results in the Company's history. Total revenues for the year ended December 31, 1993, increased approximately 43% to $17,121,681 compared to $12,000,537 for the year ended December 31, 1992. Operating income rose to $1,513,967 from $709,832 for the previous year, an increase of 112%. This translates to proforma net income of $276,245, or $.10 per share, for 1993 (See explanation under Statement of Operations).
 Richard E. Bunger, Chairman and CEO of Mobile Mini, Inc., attributes the results to increased revenues across its entire product line. However, specific emphasis can be credited to the modular building division and the on-site leasing of portable storage containers. "We are extremely pleased with the marketplace's enthusiasm for the Company's all-steel modular structures. Current expansion plans include increasing manufacturing facilities for the modular building division by over 350% with the total of the entire manufacturing plant to be expanded to approximately 130,000 square feet. This will significantly increase the Company's production base and allow Mobile Mini to bid on and accept larger orders. The Company is also initiating a substantial expansion of its "on-site" leasing operations in Arizona, California and soon into Texas. We believe there is a strong market for the Mobile Mini type of portable high-security storage unit, and that leasing, in general, will continue to become a much larger part of total revenues. Also, during the last twelve months we have expanded our employment base from 240 to a current level of 373 employees," Mr. Bunger stated.
 Mr. William Suphan, CFO, commented that the year to year comparison was very positive and although there may be some quarterly fluctuations in earnings due to our expansion efforts, the Company is optimistic about the overall outlook for this year. "We are confident that the Company's unique products, coupled with its production-oriented and cost-efficient manufacturing facilities should allow Mobile Mini to dominate the portable storage industry within our targeted markets," Mr. Suphan explained.
 Mobile Mini, Inc. is a leading designer, manufacturer and reconditioner of quality, high-security all-steel portable storage units and all-steel modular buildings.
 MOBILE MINI, INC. STATEMENTS OF OPERATIONS
 Year ended December 31 1993 1992
 Net Revenue $17,121,681 $12,000,537
 Operating Income 1,513,967 709,832
 Proforma Net Income 276,245 301,385
 Proforma Net Income per Common Share $.10 $.11
 Weighted Average Common Shares Outstanding 2,700,000 2,700,000
 NOTE: Mobile Mini, Inc. formally began operating as a C-Corporation on December 31, 1993. Therefore, proforma net income has been adjusted on a proforma basis to eliminate the effect of the provision for income taxes as a result of the change in tax status and to provide for income taxes at an effective rate of 42%. Proforma net income per common share has been presented for 1993 and 1992 reflecting these proforma adjustments.
 -0- 4/18/94
 /CONTACT: Max Ramras or Jim Estrada of Registered Communications Group, Inc., 602-998-7555, for Mobile Mini, or William Suphan, CFO of Mobile Mini, Inc., 602-894-6311/
 (MINI)


CO: Mobile Mini, Inc. ST: Arizona, California IN: SU: ERN

MP -- NYON1 -- 7542 04/18/94 09:02 EDT
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Publication:PR Newswire
Date:Apr 18, 1994
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