United Rentals, Inc. announced consolidated earnings results for the fourth quarter and full year December 31, 2011. For the quarter, the company's total revenues were $746 million, compared with $597 million for the same period in 2010. On a GAAP basis, the company reported income from continuing operations of $28 million, or $0.39 per diluted share, compared with a loss of $17 million, or $0.29 per diluted share, for the same period in 2010. On an adjusted basis, EPS for the quarter was $0.82 per diluted share, compared with $0.16 per diluted share in 2010. Operating income was $115 million compared with $47 million a year ago. Income from continuing operations before provision (benefit) for income taxes was $56 million compared with loss from continuing operations before provision (benefit) for income taxes of $40 million a year ago. Net income available to common stockholders was $29 million or $0.39 per diluted share compared with net loss available to common stockholders of $21 million or $0.35 per diluted share a year ago. Net cash provided by operating activities was $155 million compared with $109 million a year ago. The company reported purchases of rental equipment of $143 million compared with $59 million a year ago. EBITDA was $245 million compared with $164 million a year ago. Adjusted EBITDA was $281 million compared with $181 million a year ago. For the year, the company's total revenues were $2.6 billion, compared with $2.2 billion for the same period in 2010. On a GAAP basis, the company reported income from continuing operations of $101 million, or $1.38 per diluted share, compared with a loss of $22 million, or $0.38 per diluted share, for 2010. On an adjusted basis, EPS for the year was $1.87 per diluted share, compared with $0.33 per diluted share in 2010. Operating income was $396 million compared with $197 million a year ago. Income from continuing operations before provision (benefit) for income taxes was $164 million compared with loss from continuing operations before provision (benefit) for income taxes of $63 million a year ago. Net income available to common stockholders was $101 million or $1.38 per diluted share compared with net loss available to common stockholders of $26 million or $0.44 per diluted share a year ago. Net cash provided by operating activities was $608 million compared with $452 million a year ago. The company reported purchases of rental equipment of $774 million compared with $346 million a year ago. EBITDA was $879 million compared with $649 million a year ago. Adjusted EBITDA was $929 million compared with $691 million a year ago. The company provided earnings outlook for the full year 2012. For the year, the company expects an increase of rental rates of 5% year over year, net rental capital expenditures of between $770 million and $820 million, and free cash usage (negative flow) in the range of $50 million to $100 million. The company is going to spend about $1 billion of gross capital expenditure. The company expects between 62% and 67% adjusted EBITDA flow-through to total revenue.