General and administrative expense ("G&A") increased by 2% to $11.5 million from $11.3 million in the 2009 third quarter. Restoration in 2010 of the Company's performance-based compensation program was partially offset by cost efficiencies realized from the Company's rollout of its technology initiatives and associated process improvements.As a result, operating income increased by 11% to $9.3 million, as compared with $8.4 million in the year ago quarter. Lower interest rates and lower debt balances resulted in a $0.3 million decrease in year-over-year interest expense for the third quarter.
Standard Parking Corporation Reports Solid Third Quarter Growth; Reaffirms Guidance
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