H&E Equipment Services reported a 98% drop in second-quarter profits, as the Baton Rouge-based heavy equipment company dealt with the national recession. For the quarter that ended June 30, the company reported a net income of $263,000, or 1 cent per share, compared with $16.1 million, or 45 cents per share, a year ago. A severe reduction in demand for non-residential construction, and a drop in rental rates for equipment caused the plunge in profits. Revenue fell 36%, from $282.6 million to $180.2 million.
H earnings plunge in second quarter
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