-----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, TybHYQW1Bj1NwkPFDeZdccGr7ok5RjTGdG+cD7EAOVLeosLb4qOsCx1vmB67Q7m/ EKIjH+AV954nU6HZdZSZwQ== 0001193125-04-035335.txt : 20040305 0001193125-04-035335.hdr.sgml : 20040305 20040305125837 ACCESSION NUMBER: 0001193125-04-035335 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030930 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040305 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: 04651173 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): September 30, 2003

 


 

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 September 30, 2003, Rural/Metro Corporation, a Delaware corporation (the “Company”) ceased operating in certain of its medical transportation and related services areas. The results of those service areas have been included in discontinued operations for the three months ended September 30, 2003 and 2002. Net revenue for these service areas totaled $1.7 million and $3.9 million for the three months ended September 30, 2003 and 2002, respectively. These service areas generated a loss of $0.7 million in the three months ended September 30, 2003, and net income of $0.7 million in the three months ended September 30, 2002. We do not expect there to be a negative financial impact from these transactions.

 

The assets used in the discontinued operations generally were not disposed of by the Company, but instead have been redeployed in other Company operations.

 

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: March 3, 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 YEAR ENDED JUNE 30, 2003

 

     Rural/Metro
Corporation


    Discontinued
Operations


    Adjustments (1)

   Pro forma
Combined


 

NET REVENUE

   $ 520,477     $ (14,677 )   $ —      $ 505,800  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     284,021       (6,751 )            277,270  

Provision for doubtful accounts

     85,046       (2,806 )            82,240  

Depreciation and amortization

     13,289       (188 )            13,101  

Other operating expenses

     113,535       (2,716 )            110,819  

Restructuring charge and other

     (1,421 )     —                (1,421 )
    


 


 

  


Total operating expenses

     494,470       (12,461 )     —        482,009  
    


 


 

  


OPERATING INCOME

     26,007       (2,216 )     —        23,791  

Interest expense

     (28,012 )     —                (28,012 )

Interest income

     197       (1 )     —        196  

Other income, net

     146       —                146  
    


 


 

  


LOSS BEFORE INCOME TAXES

     (1,662 )     (2,217 )     —        (3,879 )

INCOME TAX EXPENSE

     (197 )     —                (197 )

MINORITY INTEREST

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


 


 

  


LOSS FROM CONTINUING OPERATIONS

   $ (3,366 )   $ (2,217 )   $ —      $ (5,583 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the disposition of the two domestic medical transportation service areas as if the dispositions occurred on July 1, 2000. The results of the two domestic medical transportation service areas 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     $ (15,030 )   $ —      $ 473,950  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     269,123       (7,670 )            261,453  

Provision for doubtful accounts

     77,725       (2,362 )            75,363  

Depreciation and amortization

     16,267       (1,181 )            15,086  

Other operating expenses

     103,280       (3,174 )            100,106  

Contract termination costs and related asset impairment charges

     (107 )     —                (107 )

Restructuring charge and other

     (718 )     171              (547 )
    


 


 

  


Total operating expenses

     465,570       (14,216 )     —        451,354  
    


 


 

  


OPERATING INCOME

     23,410       (814 )     —        22,596  

Interest expense

     (25,462 )     —                (25,462 )

Interest income

     644       —                644  

Other income, net

     8       (8 )            —    
    


 


 

  


LOSS BEFORE INCOME TAXES

     (1,400 )     (822 )     —        (2,222 )

INCOME TAX BENEFIT

     2,520       —                2,520  

MINORITY INTEREST

     (750 )     —                (750 )
    


 


 

  


INCOME (LOSS) FROM CONTINUING OPERATIONS

   $ 370     $ (822 )   $ —      $ (452 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the disposition of the two domestic medical transportation service areas as if the dispositions occurred on July 1, 2000. The results of the two domestic medical transportation service areas 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     $ (16,828 )   $ —      $ 462,586  
    


 


 

  


OPERATING EXPENSES

                               

Payroll and employee benefits

     271,976       (9,084 )            262,892  

Provision for doubtful accounts

     86,876       (5,232 )            81,644  

Depreciation and amortization

     25,741       (1,413 )            24,328  

Other operating expenses

     131,889       (4,363 )            127,526  

Asset impairment charges

     48,050       (15,711 )            32,339  

Contract termination costs and related asset impairment charges

     9,256       —                9,256  

Restructuring charge and other

     9,091       (29 )            9,062  
    


 


 

  


Total operating expenses

     582,879       (35,832 )     —        547,047  
    


 


 

  


OPERATING LOSS

     (103,465 )     19,004       —        (84,461 )

Interest expense

     (30,624 )     —                (30,624 )

Interest income

     642                      642  

Other expense, net

     (4,053 )     4,053              —    
    


 


 

  


LOSS BEFORE INCOME TAXES

     (137,500 )     23,057       —        (114,443 )

INCOME TAX PROVISION

     (1,137 )     —                (1,137 )

MINORITY INTEREST

     705       1,585              2,290  
    


 


 

  


LOSS FROM CONTINUING OPERATIONS

   $ (137,932 )   $ 24,642     $ —      $ (113,290 )
    


 


 

  



(1) - The pro forma statement of operations gives effect to the disposition of the two domestic medical transportation service areas as if the dispositions occurred on July 1, 2000. The results of the two domestic medical transportation service areas have been removed from the pro forma statement of operations.
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