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ABM Industries Inc. (ABM) filed Annual Report for the period ended 2011-10-31.
Abm Industries Inc. has a market cap of $1.12 billion; its shares were traded at around $20.99 with a P/E ratio of 15.2 and P/S ratio of 0.3. The dividend yield of Abm Industries Inc. stocks is 2.7%. Abm Industries Inc. had an annual average earning growth of 9% over the past 10 years.
This is the annual revenues and earnings per share of ABM over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ABM.
Highlight of Business Operations:
Revenues in 2011 include amounts associated with Linc of approximately $512.9 million, which was acquired on December 1, 2010. Beginning in 2010, revenues include amounts associated with the acquisitions of Five Star Parking, Network Parking Company Ltd., and System Parking, Inc. (collectively, this asset acquisition is referred to as “L&R”) and Diversco, Inc., which were acquired on October 1, 2010 and June 30, 2010, respectively, totaling $43.0 million in the year of acquisition. Beginning in 2008, revenues include additional amounts associated with the acquisition of OneSource Services, Inc. (“OneSource”) and Healthcare Parking Services America, which were acquired on November 14, 2007 and April 2, 2007, respectively, totaling $836.6 million in the year of acquisition. Revenues in 2007 included a $5.0 million gain from the termination of off-airport parking garage leases.Revenues. Total revenues increased $13.9 million, or 0.4%, in 2010, as compared to 2009. The Company’s growth in total revenues includes approximately $43.0 million of revenues attributable to the L&R and Diversco acquisitions described above. Excluding the L&R and Diversco acquisitions, revenues decreased $29.1 million, or 0.8%, in 2010, as compared to 2009. During 2009, the Company experienced losses of client contracts that exceeded new business, reductions in the level and scope of client services, contract price compression and declines in the level of tag work, primarily in the Janitorial segment. These losses and reductions continued to influence results throughout 2010. In addition, during 2010 the Janitorial segment continued to experience some additional reductions in the level and scope of client services and contract price compression. These revenue decreases in the Janitorial segment were partially offset by additional revenues from new clients and the expansion of services to existing clients in the Engineering segment.
Janitorial. Janitorial revenues decreased $44.1 million, or 1.9%, during 2010 compared to 2009. Excluding the revenues associated with the Diversco acquisition, Janitorial revenues decreased $68.1 million, or 2.9%, during 2010, as compared to 2009. During 2009, Janitorial experienced losses of client contracts that exceeded new business, reductions in the level and scope of client services, contract price compression and declines in the level of tag work, which continued to influence results throughout 2010. In addition, during 2010, Janitorial continued to experience some reductions in the level and scope of client services and contract price compression as a result of decreases in client discretionary spending, partially offset by additional revenues from new clients.
Parking. Parking revenues increased $11.9 million, or 2.6%, during 2010 compared to 2009. Excluding the revenues associated with the L&R acquisition, Parking revenues decreased $3.0 million, or 0.7%. The decrease in revenues, excluding the L&R acquisition, was primarily related to a $5.7 million reduction of expenses incurred on the behalf of managed parking facilities, which are reimbursed to the Company. These reimbursed expenses are recognized as parking revenues and expenses, which have no impact on operating profit. The decrease in management reimbursement revenues was offset by a $2.7 million increase in lease and allowance revenues from new clients and the expansion of services to existing clients.
Security. Security revenues increased $1.6 million, or 0.5%, during 2010 compared to 2009. Excluding the revenues associated with the Diversco acquisition, Security revenues decreased $2.4 million, or 0.7%. The decrease in revenues was primarily related to reductions in the level and scope of client services and contract price compression as a result of decreases in client discretionary spending.
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