Unaudited Quarterly Results

12 Months Ended

Dec. 31, 2011

Unaudited Quarterly Results [Abstract]

Unaudited Quarterly Results

Note U. Unaudited Quarterly Results

The following table sets forth our unaudited quarterly consolidated statement of income data for the years ended December 31, 2011 and December 31, 2010. The unaudited quarterly information has been prepared on the same basis as the annual financial information and, in management’s opinion, includes all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the information for the quarters presented. Historically, our operating results have varied from quarter to quarter and are expected to continue to fluctuate in the future. These fluctuations have been due to a number of factors, including: general economic conditions in our markets; additions of contracts; expiration and termination of contracts; conversion of lease contracts to management contracts; conversion of management contracts to lease contracts and changes in terms of contracts that are retained and timing of general and administrative expenditures. The operating results for any historical quarter are not necessarily indicative of results for any future period.

	2011 Quarters Ended												2010 Quarters Ended
	March 31			June 30			September 30			December 31			March 31			June 30			September 30			December 31
				(Unaudited)												(Unaudited)
	($ in thousands)
Parking services revenue:
Lease contracts	$	35,205		$	37,193		$	37,501		$	37,611		$	33,116		$	34,162		$	35,713		$	35,673
Management contracts		45,954			42,343			43,259			42,169			40,075			42,081			43,713			45,462
Reimbursed management contract revenue		101,124			100,126			106,365			100,812			106,055			100,757			101,500			102,836
Total revenue		182,283			179,662			187,125			180,592			179,246			177,000			180,926			183,971
Cost of parking services:
Lease contracts		33,499			34,286			34,049			34,660			31,771			31,217			32,714			32,911
Management contracts		27,492			23,215			22,489			22,963			22,264			22,278			24,357			25,582
Reimbursed management contract revenue		101,124			100,126			106,365			100,812			106,055			100,757			101,500			102,836
Total cost of parking services		162,115			157,627			162,903			158,435			160,090			154,252			158,571			161,329
Gross profit:
Lease contracts		1,706			2,907			3,452			2,951			1,345			2,945			2,999			2,762
Management contracts		18,462			19,128			20,770			19,206			17,811			19,803			19,356			19,880
Total gross profit		20,168			22,035			24,222			22,157			19,156			22,748			22,355			22,642
General and administrative expenses		11,182			11,597			11,814			13,704			11,560			12,218			11,549			12,551
Depreciation and amortization		1,533			1,677			1,683			1,725			1,460			1,570			1,527			1,517
Operating income		7,453			8,761			10,725			6,728			6,136			8,960			9,279			8,574
Other expense (income):
Interest expense		1,169			1,180			1,197			1,145			1,490			1,398			1,286			1,161
Interest income		(60	)		(113	)		(297	)		(67	)		(53	)		(52	)		(56	)		(88	)
		1,109			1,067			900			1,078			1,437			1,346			1,230			1,073
Income before income taxes		6,344			7,694			9,825			5,650			4,699			7,614			8,049			7,501
Income tax expense		2,479			3,066			3,760			1,930			1,847			3,021			3,124			2,763
Net income		3,865			4,628			6,065			3,720			2,852			4,593			4,925			4,738
Less: Net income (loss) attributable to noncontrolling interest		86			85			89			118			7			85			89			87
Net income attributable to Standard Parking Corporation	$	3,779		$	4,543		$	5,976		$	3,602		$	2,845		$	4,508		$	4,836		$	4,651
Common stock data:
Common stock data:
Net income per share:
Basic	$	0.24		$	0.29		$	0.38		$	0.23		$	0.18		$	0.29		$	0.31		$	0.30
Diluted		0.23			0.28			0.37			0.23			0.18			0.28			0.30			0.29
Weighted average shares outstanding:
Basic		15,790,875			15,834,622			15,704,837			15,485,793			15,390,514			15,531,726			15,651,586			15,736,906
Diluted		16,146,106			16,164,114			16,034,330			15,845,173			15,804,599			15,877,258			15,993,631			16,096,486