CHICAGO, March 8, 2013 (GLOBE NEWSWIRE) -- Standard Parking Corporation (Nasdaq:STAN), a leading national provider of parking management, ground transportation and other ancillary services, which completed its merger with Central Parking on October 2, 2012, today announced its fourth quarter and full-year 2012 results. Highlights
- Full year merger-adjusted EPS of $1.27
- Merger integration remains on track with internal goals and timelines
- Increased net annual run-rate cost synergy expectation, to in excess of $26 million by 2015
- Company outlines 2013 guidance and long-term financial goals
| In millions | Three Months Ended | Year Ended | ||
| December 31, 2012 | December 31, 2012 | |||
| Merger | Merger | |||
| Reported 1 | Adjusted 2 | Reported 1 | Adjusted 2 | |
| Gross profit | $41.7 | $20.4 | $109.8 | $88.5 |
| EBITDA | ($2.0) | $9.4 | $22.1 | $44.1 |
| Net income attributable to Standard Parking Corporation | ($4.8) | $4.1 | $3.9 | $20.1 |
| EPS | ($0.22) | $0.26 | $0.22 | $1.27 |
| 1Includes Central Parking operating results for the three months ended December 31, 2012. | ||||
| 2Excludes (i) Central Parking gross profit, general administrative expenses and depreciation and amortization of Central Parking operations, (ii) amortization of merger related intangible assets and additional interest expense attributable to the Central Parking merger, and (iii) all Company merger and integration related costs; merger adjusted net income also reflects the application of an assumed income tax rate equal to the Company's actual effective tax rate for the comparable prior year period. | ||||
