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ABM Industries Announces 2013 Fourth Quarter Financial Results

09 Dec 2013 7:37 PM | IJCSA - (Administrator)

Executive Summary:

  • Revenues were $1.2 billion in the fourth quarter of fiscal 2013, up 13.5% compared to $1.09 billion last year, due to $110.8 million in contributions from recent acquisitions and $36.0 million, or 3.3%, in organic growth.
  • Janitorial and Security segments achieved organic growth of 4.1% and 3.9%, respectively, from new business and increased scope of work with existing clients.
  • Building & Energy Solutions segment, excluding government business, delivered strong organic growth of 26.7% due primarily to new bundled energy solutions contracts.
  • Adjusted income from continuing operations for the fiscal 2013 fourth quarter was $0.48 per diluted share compared to $0.50 per diluted share in the prior year. In the fiscal 2012 fourth quarter, the Company recognized an $0.11 benefit from a discrete tax item compared to a $0.04 benefit from discrete tax items in the fourth quarter of 2013.
  • Adjusted EBITDA increased 15.7% to $58.1 million as a result of contributions from recent acquisitions and new business.
  • Outstanding borrowings under the Company’s credit facility decreased by $34 million in the fourth quarter to $315 million.


More at source: Herald Online

  • Read more here: http://www.heraldonline.com/2013/12/09/5487652/abm-industries-announces-2013.html#storylink=cpy

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