ABM Industries Inc. (ABM, Financial) filed Annual Report for the period ended 2010-10-31.
Abm Industries Inc. has a market cap of $1.39 billion; its shares were traded at around $26.7 with a P/E ratio of 19.9 and P/S ratio of 0.4. The dividend yield of Abm Industries Inc. stocks is 2%. Abm Industries Inc. had an annual average earning growth of 6.7% over the past 10 years.ABM is in the portfolios of Kenneth Fisher of Fisher Asset Management, LLC, Chuck Royce of Royce& Associates.
On October 1, 2010, the Company acquired select assets of Five Star Parking, Network Parking Company Ltd., and System Parking, Inc. (L&R) from the L&R Group of Companies for an aggregate purchase price of $34.7 million, including $0.2 million of assets distributed as consideration. The Company incurred $0.4 million of direct acquisition costs, which were expensed as incurred. L&R employs approximately 2,500 people and services more than 450 client accounts across the United States. The acquisition extends and expands the Companys parking business in major cities. The acquisition also expands the Companys presence at airports. The results of operations of L&R are included in the Companys Parking segment as of the acquisition date. The amounts of L&R revenues and operating profit included in the Companys consolidated statements of income for fiscal year 2010 were $14.9 million and $0.4 million, respectively.
On June 30, 2010, the Company acquired all of the outstanding shares of Diversco, Inc. (Diversco) from DHI Holdings, Inc. for $30.6 million in cash and incurred direct acquisition costs of $0.2 million, which were expensed as incurred. The purchase price was subsequently adjusted to $30.4 million in connection with a working capital adjustment. Diversco is a national provider of outsourced facility services. The acquisition expands the geographic reach of the Companys janitorial and security businesses, particularly in the Southeast, Midwest and Mid-Atlantic regions of the United States. The results of operations of Diversco are included in the Companys Janitorial and Security segments as of the acquisition date. The amounts of Diverscos revenues and operating profit included in the Companys consolidated statements of income for fiscal year 2010 were $28.1 million and $1.2 million, respectively.
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Abm Industries Inc. has a market cap of $1.39 billion; its shares were traded at around $26.7 with a P/E ratio of 19.9 and P/S ratio of 0.4. The dividend yield of Abm Industries Inc. stocks is 2%. Abm Industries Inc. had an annual average earning growth of 6.7% over the past 10 years.ABM is in the portfolios of Kenneth Fisher of Fisher Asset Management, LLC, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
On December 1, 2010, the Company acquired The Linc Group, LLC (Linc) pursuant to an Agreement and Plan of Merger, dated as of December 1, 2010 (the Merger Agreement), by and among ABM, Linc, GI Manager LP, as the Members Representative, and Lightning Services, LLC, a wholly-owned subsidiary of ABM (Merger Sub). Pursuant to the Merger Agreement, Merger Sub merged with and into Linc, and Linc continued as the surviving corporation and as a wholly owned subsidiary of ABM. The aggregate purchase price for all of the outstanding limited liability company interests of Linc was approximately $301.0 million, subject to certain adjustments as set forth in the Merger Agreement. With annual revenues of approximately $579 million and approximately 3,000 employees, Linc provides end-to-end integrated facilities management services that improve operating efficiencies, reduce energy consumption and lower overall operational costs for more than 25,000 facilities in the government, commercial and residential markets throughout the United States and select international markets. The operations of Linc will be included in the Engineering segment as of the acquisition date. Except where specifically indicated, the information contained in the Annual Report on Form 10-K does not include information related to Linc.On October 1, 2010, the Company acquired select assets of Five Star Parking, Network Parking Company Ltd., and System Parking, Inc. (L&R) from the L&R Group of Companies for an aggregate purchase price of $34.7 million, including $0.2 million of assets distributed as consideration. The Company incurred $0.4 million of direct acquisition costs, which were expensed as incurred. L&R employs approximately 2,500 people and services more than 450 client accounts across the United States. The acquisition extends and expands the Companys parking business in major cities. The acquisition also expands the Companys presence at airports. The results of operations of L&R are included in the Companys Parking segment as of the acquisition date. The amounts of L&R revenues and operating profit included in the Companys consolidated statements of income for fiscal year 2010 were $14.9 million and $0.4 million, respectively.
On June 30, 2010, the Company acquired all of the outstanding shares of Diversco, Inc. (Diversco) from DHI Holdings, Inc. for $30.6 million in cash and incurred direct acquisition costs of $0.2 million, which were expensed as incurred. The purchase price was subsequently adjusted to $30.4 million in connection with a working capital adjustment. Diversco is a national provider of outsourced facility services. The acquisition expands the geographic reach of the Companys janitorial and security businesses, particularly in the Southeast, Midwest and Mid-Atlantic regions of the United States. The results of operations of Diversco are included in the Companys Janitorial and Security segments as of the acquisition date. The amounts of Diverscos revenues and operating profit included in the Companys consolidated statements of income for fiscal year 2010 were $28.1 million and $1.2 million, respectively.
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