S&P 500
1982.77
-11.52 -0.58%
Dow Indu
17055.87
-116.81 -0.68%
Nasdaq
4511.51
-16.18 -0.36%
Crude Oil
91.56
0.00 0.00%
Gold
1223.61
+0.68 +0.06%
Euro
1.285615
+0.000265 +0.02%
US Dollar
84.625
-0.077 -0.10%
Weak

Market Commentary and Intraday News

Standard Parking 4Q adjusted profit tops Street

564 days ago

POWERFUL FIBONACCI PATTERS. Free Webinar Reveals:
- How to spot Wave Patterns you'd easily miss without Fibonacci tools.
- How to forecast, find, and trade retracement & extension points for potentially higher profits.
- Secrets of how to use Time & Volume to find hidden opportunities in the market.
- Secrets of Japanese Candlestick every Fib Trader should know.
Click Here!

(AP:CHICAGO) Standard Parking lost money in its fourth quarter, weighed down by acquisition-related costs.

Its adjusted results topped Wall Street's view, but the company gave a 2013 adjusted earnings forecast below analysts' estimates. Shares fell more than 2 percent in afternoon trading.

The provider of parking, ground transportation and other services lost $4.8 million, or 22 cents per share, for the three months ended Dec. 31. That compares with a profit of $3.6 million, or 23 cents per share, a year earlier.

Excluding cost related to its $345 million acquisition of Central Parking in October, earnings were 26 cents per share.

Information on quarterly revenue was not immediately available.

Analyst polled by FactSet forecast earnings of 25 cents per share.

The Chicago company said Friday that it still expects the acquisition to add to its earnings per share by 2015. It manages more than 4,200 facilities with more than 2.2 million parking spaces in hundreds of North American cities.

For the year, Standard Parking Corp. earned $3.9 million, or 22 cents per share. In 2011 the company earned $17.9 million, or $1.12 per share. Adjusted earnings were $1.27 per share. Full-year revenue rose to $953.9 million from $729.7 million.

Looking ahead, the company anticipates 2013 adjusted earnings between 75 cents and 85 cents per share. Analysts predict $1.28 per share, on average.

Standard Parking's stock fell 54 cents, or 2.6 percent, to $20.30. The shares have traded between $17.99 and $24.67 over the past year.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.