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Standard Parking Corporation Announces Third Quarter 2013 Results

Stocks in this article: STAN

Recent Developments

AXS Digital, LLC (AEG Worldwide's ticketing platform) and Standard Parking Corporation executed a multi-year agreement to use the Company's Click and Park ® online reservation and payment engine to provide online parking reservation and routing services for parking facilities surrounding AEG venues across the United States. Initially, 21 venues throughout the United States will begin using Click and Park's patented travel demand management system.

Porter Airlines awarded SP Plus ® Airport Services a contract to implement shuttle bus operations between Billy Bishop Toronto City Airport and off-site parking locations. As part of its services, the Company will implement its Click and Park ® online reservation system to process pre-paid parking reservations for Porter Airlines passengers. This agreement represents the first direct contract between SP Plus ® Airport Services and a commercial airline.

Xerox State and Local Solutions, Inc., a contractor to the Texas Department of Transportation, awarded Standard Parking a multi-year subcontract to provide certain Toll Operations and Courtesy Patrol services for a portion of the Texas toll road system serving Austin, TX. The contract includes the remote monitoring of seven toll plazas, coordination of maintenance functions for those toll plazas, and the operation of Courtesy Patrols that provide roadside assistance to stranded or disabled motorists. 2013 Full-Year Outlook

Based on results from the first nine months of 2013, the Company reaffirms its 2013 full-year adjusted earnings per share guidance in the range of $0.75 to $0.85, excluding both merger and integration costs and professional and related fees incurred in connection with the restatement, and in the range of $0.60 - $0.70, excluding only the professional and related fees incurred in connection with the restatement. The change in accounting for deficiency payments under the Bradley Agreement is not expected to have a material impact on full year 2013 earnings per share before professional and related fees incurred in connection with the restatement. The Company is not yet able to estimate the total amount of professional and related fees it will incur in connection with the restatement.

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