XML 13 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Parking services revenue:    
Lease contracts$ 37,501$ 35,713$ 109,899$ 102,991
Management contracts43,25943,713131,556125,869
Total parking services revenue80,76079,426241,455228,860
Reimbursed management contract revenue106,365101,500307,615308,312
Total revenue187,125180,926549,070537,172
Cost of parking services:    
Lease contracts34,04932,714101,83495,702
Management contracts22,48924,35773,19668,899
Total cost of parking services56,53857,071175,030164,601
Reimbursed management contract expense106,365101,500307,615308,312
Total cost of parking services162,903158,571482,645472,913
Gross profit:    
Lease contracts3,4522,9998,0657,289
Management contracts20,77019,35658,36056,970
Total gross profit24,22222,35566,42564,259
General and administrative expenses (1)11,814[1]11,549[1]34,593[1]35,327[1]
Depreciation and amortization1,6831,5274,8934,557
Operating income10,7259,27926,93924,375
Other expenses (income):    
Interest expense1,1971,2863,5464,174
Interest income(297)(56)(470)(161)
Total other expenses (income)9001,2303,0764,013
Income before income taxes9,8258,04923,86320,362
Income tax expense3,7603,1249,3057,992
Net income6,0654,92514,55812,370
Less: Net income attributable to noncontrolling interest8989260181
Net income attributable to Standard Parking Corporation$ 5,976$ 4,836$ 14,298$ 12,189
Net income per share:    
Basic$ 0.38$ 0.31$ 0.91$ 0.79
Diluted$ 0.37$ 0.30$ 0.89$ 0.77
Weighted average shares outstanding:    
Basic15,704,83715,651,58615,776,83315,526,061
Diluted16,034,33015,993,63116,116,13615,893,282
[1] Non-cash stock based compensation expense of $411 and $1,724 for the three and nine months ended September 30, 2011, respectively, and $533 and $1,770 for the three and nine months ended September 30, 2010, respectively, is included in general and administrative expenses.