-----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, TPsIRBiu7yQeRnQTbV8PHf7OCAhmwpPQf4gy7Kim3jpS9tGaqroM2gyxLmvzJY8n Un2NLtjRRlb7TLNJ3BmBWA== 0001193125-04-024970.txt : 20040217 0001193125-04-024970.hdr.sgml : 20040216 20040217152535 ACCESSION NUMBER: 0001193125-04-024970 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040131 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RURAL METRO CORP /DE/ CENTRAL INDEX KEY: 0000906326 STANDARD INDUSTRIAL CLASSIFICATION: LOCAL & SUBURBAN TRANSIT & INTERURBAN HWY PASSENGER TRAINS [4100] IRS NUMBER: 860746929 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22056 FILM NUMBER: 04608137 BUSINESS ADDRESS: STREET 1: 8401 EAST INDIAN SCHOOL RD CITY: SCOTTSDALE STATE: AZ ZIP: 85251 BUSINESS PHONE: 4809943886 8-K 1 d8k.htm FORM 8-K FORM 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 


 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 31, 2004

 


 

RURAL/METRO CORPORATION

(Exact name of registrant as specified in its charter)

 


 

DELAWARE

(State or other jurisdiction of incorporation)

 

0-22056   86-0746929
(Commission File Number)   (IRS Employer Identification No.)

 

8401 East Indian School Road

Scottsdale, Arizona

85251

(Address of Principal Executive Offices)

(Zip Code)

 

(480) 606-3886

(Registrant’s telephone number, including area code)

 



Item 2. Acquisition or Disposition of Assets

 

Effective January 31, 2004, Rural/Metro Corporation, a Delaware corporation ceased providing services in one of its fire and other service areas in connection with the expiration of a contract. The results of this service area will be included in discontinued operations beginning with filings made for the quarter ended March 31, 2004. The assets related to the service area totaled $0.6 million or 0.3% of total assets at December 31, 2003.

 

Item 7. Exhibits

 

  (a) Not applicable.

 

  (b) Pro forma Condensed Financial Information. The required pro forma financial information is included as Exhibit 99.1 to this Report.

 

  (c) The following exhibit is filed herewith:

 

  99.1   Pro Forma Financial Statements of Rural/Metro Corporation

 

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.

 

    

RURAL/METRO CORPORATION

Date: February 17, 2004

  

By:

  

/s/  John S. Banas III


         

      John S. Banas III

         

      Executive Vice President


CURRENT REPORT ON FORM 8-K

 

EXHIBIT INDEX

 

Exhibit No.

 

Exhibit


99.1   Pro Forma Financial Statements of Rural/Metro Corporation
EX-99.1 3 dex991.htm PRO FORMA FINANCIAL STATEMENTS PRO FORMA FINANCIAL STATEMENTS

EXHIBIT 99.1

 

RURAL/METRO CORPORATION

PROFORMA STATEMENT OF OPERATIONS (UNAUDITED)

FOR THE SIX MONTHS ENDED DECEMBER 31, 2003

 

     Rural/Metro
Corporation


    Discontinued
Operations


    Adjustments (1)

   Pro forma
Combined


 

NET REVENUE

   $ 265,862     $ (1,371 )   $ —      $ 264,491  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     141,052       (865 )            140,187  

Provision for doubtful accounts

     42,627       —                42,627  

Depreciation and amortization

     5,734       (30 )            5,704  

Other operating expenses

     57,246       (26 )            57,220  

Restructuring charge and other

     —         —                —    
    


 


 

  


Total operating expenses

     246,659       (921 )     —        245,738  
    


 


 

  


OPERATING INCOME

     19,203       (450 )     —        18,753  

Interest expense

     (15,208 )     —                (15,208 )

Interest income

     51       —         —        51  

Other income, net

     —         —                —    
    


 


 

  


INCOME BEFORE INCOME TAXES

     4,046       (450 )     —        3,596  

INCOME TAX EXPENSE

     (195 )     —                (195 )

MINORITY INTEREST

     (463 )     —         —        (463 )
    


 


 

  


INCOME FROM CONTINUING OPERATIONS

   $ 3,388     $ (450 )   $ —      $ 2,938  
    


 


 

  



(1) - The pro forma statement of operations gives effect to the contract expiration in one fire and other service area as if the expiration of the contract occurred on July 1, 2000. The results of the one fire and other service area have been removed from the pro forma statement of operations.


RURAL/METRO CORPORATION

PROFORMA STATEMENT OF OPERATIONS (UNAUDITED)

FOR THE YEAR ENDED JUNE 30, 2003

 

     Rural/Metro
Corporation


    Discontinued
Operations


    Adjustments (1)

   Pro forma
Combined


 

NET REVENUE

   $ 520,477     $ (3,448 )   $ —      $ 517,029  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     284,021       (2,499 )            281,522  

Provision for doubtful accounts

     85,046       —                85,046  

Depreciation and amortization

     13,289       (58 )            13,231  

Other operating expenses

     113,535       (73 )            113,462  

Restructuring charge and other

     (1,421 )     —                (1,421 )
    


 


 

  


Total operating expenses

     494,470       (2,630 )     —        491,840  
    


 


 

  


OPERATING INCOME

     26,007       (818 )     —        25,189  

Interest expense

     (28,012 )     —                (28,012 )

Interest income

     197       —         —        197  

Other income, net

     146       —                146  
    


 


 

  


LOSS BEFORE INCOME TAXES

     (1,662 )     (818 )     —        (2,480 )

INCOME TAX EXPENSE

     (197 )     —                (197 )

MINORITY INTEREST

     (1,507 )     —         —        (1,507 )
    


 


 

  


LOSS FROM CONTINUING OPERATIONS

   $ (3,366 )   $ (818 )   $ —      $ (4,184 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the contract expiration in one fire and other service area as if the expiration of the contract occurred on July 1, 2000. The results of the one fire and other service area have been removed from the pro forma statement of operations.

 


RURAL/METRO CORPORATION

PRO FORMA STATEMENT OF OPERATIONS (UNAUDITED)

FOR THE YEAR ENDED JUNE 30, 2002

 

    

Rural/Metro

Corporation


   

Discontinued

Operations


    Adjustments (1)

  

Pro forma

Combined


 

NET REVENUE

   $ 488,980     $ (3,470 )   $  —      $ 485,510  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     269,123       (2,511 )            266,612  

Provision for doubtful accounts

     77,725       (220 )            77,505  

Depreciation and amortization

     16,267       (56 )            16,211  

Other operating expenses

     103,280       (74 )            103,206  

Contract termination costs and related asset impairment charges

     (107 )     —                (107 )

Restructuring charge and other

     (718 )                    (718 )
    


 


 

  


Total operating expenses

     465,570       (2,861 )     —        462,709  
    


 


 

  


OPERATING INCOME

     23,410       (609 )     —        22,801  

Interest expense

     (25,462 )     —                (25,462 )

Interest income

     644       —                644  

Other income, net

     8                      8  
    


 


 

  


LOSS BEFORE INCOME TAXES

     (1,400 )     (609 )     —        (2,009 )

INCOME TAX BENEFIT

     2,520       —                2,520  

MINORITY INTEREST

     (750 )     —                (750 )
    


 


 

  


INCOME (LOSS) FROM CONTINUING OPERATIONS

   $ 370     $ (609 )   $  —      $ (239 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the contract expiration in one fire and other service area as if the expiration of the contract occurred on July 1, 2000. The results of the one fire and other service area have been removed from the pro forma statement of operations.


RURAL/METRO CORPORATION

PRO FORMA STATEMENT OF OPERATIONS (UNAUDITED)

FOR THE YEAR ENDED JUNE 30, 2001

 

     Rural/Metro
Corporation


    Discontinued
Operations


    Adjustments (1)

   Pro forma
Combined


 

NET REVENUE

   $ 479,414     $ (3,417 )   $ —      $ 475,997  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     271,976       (2,510 )            269,466  

Provision for doubtful accounts

     86,876       —                86,876  

Depreciation and amortization

     25,741       (49 )            25,692  

Other operating expenses

     131,889       (72 )            131,817  

Asset impairment charges

     48,050       —                48,050  

Contract termination costs and related asset impairment charges

     9,256       —                9,256  

Restructuring charge and other

     9,091       —                9,091  
    


 


 

  


Total operating expenses

     582,879       (2,631 )     —        580,248  
    


 


 

  


OPERATING LOSS

     (103,465 )     (786 )     —        (104,251 )

Interest expense

     (30,624 )     —                (30,624 )

Interest income

     642                      642  

Other expense, net

     (4,053 )     —                (4,053 )
    


 


 

  


LOSS BEFORE INCOME TAXES

     (137,500 )     (786 )     —        (138,286 )

INCOME TAX PROVISION

     (1,137 )     —                (1,137 )

MINORITY INTEREST

     705       —                705  
    


 


 

  


LOSS FROM CONTINUING OPERATIONS

   $ (137,932 )   $ (786 )   $ —      $ (138,718 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the contract expiration in one fire and other service area as if the expiration of the contract occurred on July 1, 2000. The results of the one fire and other service area have been removed from the pro forma statement of operations.
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