Sep 9 2009
Rural/Metro Corporation (NASDAQ: RURL)
Highlights:
-- Company makes $10 million principal payment to reduce senior debt. -- Net revenue increased 3.5% to $498.8 million for the full year; up 3.7% to $129.1 million in the fourth quarter. -- Net income increased 22.7% to $5.0 million for the full year; up 50.0% to $2.2 million in the fourth quarter. -- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations increased 11.4% to $58.5 million for the full year; up 3.6% to $15.0 million in the fourth quarter. -- Average Patient Charge (APC) increased $14 per transport to $370 for the full year; up $11 per transport to $380 in the fourth quarter. -- Net cash provided by operating activities up 49.6% to $52.1 million for the full year.
Rural/Metro Corporation (NASDAQ: RURL), a leading provider of ambulance and private fire protection services, announced results today for its fiscal 2009 fourth quarter and full year, highlighting strong cash-flow generation, growth in profitability, and further progress in reducing uncompensated care.
Jack Brucker, President and Chief Executive Officer, said, "Quarterly and full-year results demonstrated the continued effectiveness of our strategy to capitalize on a successful business model that focuses on delivering high-quality services and best-in-class patient care. Solid results this quarter and throughout fiscal 2009 were driven primarily by our ability to grow the business, successfully manage uncompensated care, improve operating efficiencies and advance our technology initiatives."
The Company announced today that it made a $10.0 million principal payment to further reduce the outstanding principal balance of its senior Term Loan B to $56.0 million, from the original issue of $135.0 million in 2005. "We remain committed to deleveraging the balance sheet, as strong cash flows support our ability to reduce debt and enhance the long-term enterprise value for our stockholders," Mr. Brucker said.