-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UpWvTrBuXYoGibeL7mIEKbRh5l11Af0m3Mi8IHkxt+c8f8WR6hw3fPzKbQtcUI36 JaLeTXMn9OHE1Z5Sp/y9Eg== 0001104659-03-009891.txt : 20030514 0001104659-03-009891.hdr.sgml : 20030514 20030514172042 ACCESSION NUMBER: 0001104659-03-009891 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030514 ITEM INFORMATION: Other events FILED AS OF DATE: 20030514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANDARD PARKING CORP CENTRAL INDEX KEY: 0001059262 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510] IRS NUMBER: 161171179 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-50437 FILM NUMBER: 03700212 BUSINESS ADDRESS: STREET 1: 900 N. MICHIGAN AVENUE CITY: CHICAGO STATE: IL ZIP: 60611-1542 BUSINESS PHONE: 2185220700 FORMER COMPANY: FORMER CONFORMED NAME: APCOA STANDARD PARKING INC /DE/ DATE OF NAME CHANGE: 20011126 FORMER COMPANY: FORMER CONFORMED NAME: APCOA INC DATE OF NAME CHANGE: 19980407 8-K 1 j1169_8k.htm 8-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section l3 and l5(d) of the

Securities Exchange Act of l934

 

 

May 14, 2003

Date of report (date of earliest event reported)

 

 

 

STANDARD PARKING CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

 

333-50437

 

16-1171179

(Commission File Number)

 

(IRS Employer Identification No.)

 

900 N. Michigan Avenue, Chicago, Illinois    60611

(Address of Principal Executive Offices)  (Zip Code)

 

(312) 274-2000

(Registrant’s Telephone Number, Including Area Code)

 

 

Not Applicable

 (Former Name or Former Address, if Changed Since Last Report)

 



 

Item 5.  Other Events.

On May 14, 2003, the Registrant issued the following press release:

 

STANDARD PARKING CORPORATION ANNOUNCES
FIRST QUARTER 2003 RESULTS

 

CHICAGO, May 14, 2003 - Standard Parking Corporation, one of the nation’s largest operators of paid parking facilities, today announced first quarter 2003 operating results.

 

Gross profit was $14.1 million for the quarter, an increase of 11.0% as compared to the first quarter of 2002.  General and administrative expenses were $8.1 million for the quarter, an increase of 5.1% as compared to the first quarter of 2002.  Operating income was $3.3 million for the first quarter of 2003 as compared to $2.6 million for the first quarter of 2002, an increase of 24.2%.

 

We were generally pleased with the year-over-year first quarter operating income results and with the company’s ability to introduce its new corporate identity under the backdrop of continued financial improvement,” said James A. Wilhelm, Standard Parking’s President and Chief Executive Officer.  “Our formal name change to Standard Parking Corporation marks the successful integration of eight terrific parking companies.  Although some of our airport locations are still struggling with the effects of lower traffic, we are hopeful that an improvement in the domestic economy and the resolution of the Iraqi conflict will lead to increased U.S. enplanement figures,” Mr. Wilhelm concluded.

 

Standard Parking Corporation, with approximately 11,900 employees, is one of the largest operators of paid parking facilities in North America, managing over 1,900 airport and urban parking facilities in 273 cities spanning 43 states and four Canadian provinces.

 



 

 

Standard Parking Corporation

 

 

 

Three Months Ended March 31,

 

 

 

2003

 

2002

 

Parking services revenue:

 

 

 

 

 

Lease contracts

 

$

35,674

 

$

34,839

 

Management contracts

 

17,969

 

20,377

 

 

 

53,643

 

55,216

 

Reimbursement of management contract expense

 

76,813

 

81,779

 

Total Revenue

 

130,456

 

136,995

 

 

 

 

 

 

 

Cost of parking services:

 

 

 

 

 

Lease contracts

 

32,818

 

31,528

 

Management contracts

 

6,696

 

10,960

 

 

 

39,514

 

42,488

 

Reimbursed management contract expense

 

76,813

 

81,779

 

Total cost of parking services

 

116,327

 

124,267

 

 

 

 

 

 

 

Gross profit

 

14,129

 

12,728

 

 

 

 

 

 

 

General and administrative expenses

 

8,111

 

7,720

 

Special charges

 

97

 

208

 

Depreciation and amortization

 

1,890

 

1,409

 

Management fee - parent company

 

750

 

750

 

 

 

 

 

 

 

Operating Income

 

$

3,281

 

$

2,641

 

 

 

 

 

 

 

Number of facilities:

 

 

 

 

 

Leased facilities

 

296

 

327

 

Managed facilities

 

1,605

 

1,641

 

Total facilities

 

1,901

 

1,968

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  

 

STANDARD PARKING CORPORATION

 

 

 

 

 

 

Date:  May 14, 2003

By:

/s/  JAMES A. WILHELM

 

 

James A. Wilhelm, Director, President and Chief Executive Officer

 


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