Oct 26 2009
Rural/Metro Corporation (NASDAQ: RURL), a leading provider of ambulance and private fire protection services, announced preliminary, unaudited results today for its fiscal 2010 first quarter.
As previously announced, the Company has commenced a refinancing of its credit facility, a tender offer and consent solicitation for its 12.75% Senior Discount Notes due 2016 and a consent solicitation for its 9.875% Senior Subordinated Notes due 2015.
In connection with the pending refinancing transaction, the Company released certain expected results for its quarter ended September 30, 2009 as follows:
-- Net revenue for the quarter of $132.0 million, a 6.8% increase over the same quarter in the prior year; -- Income from continuing operations for the first quarter of $3.5 million -- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations for the first quarter of $17.8 million; -- Cash position at quarter end of $42.0 million; and, -- Days Sales Outstanding (DSO), a key metric used to measure billing and collections efficiency, declined three days to 49 days at the close of the quarter.
A reconciliation of EBITDA to income from continuing operations and discontinued operations for the three months ended September 30, 2009 is included with this press release and the related current report on Form 8-K.
The Company has scheduled its quarterly conference call for 11 a.m. Eastern time on Monday, November 9, 2009 to discuss complete first-quarter results and operational developments. To join the Company's conference call, dial 800-263-8506 (domestic) or 719-457-2640 (international). A taped replay will be available after 1 p.m. Eastern time on the day of the call until 11:59 p.m. Eastern time on November 12, 2009. To access the replay, dial 888-203-1112 (domestic) or 719-457-0820 (international). The required pass code to access the replay is 4524714. An audio webcast will be available at www.ruralmetro.com the day of the call and will remain on the Company's website for 90 days thereafter.