-----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, NvrsRmr4osBcyr6tuRkV3ErKXDAa+Ikls9Kp0+w/qNI17RMVBtYwmFP59zW/cxsJ BMUZ6PTmqqKWlAx66456vg== 0001193125-07-057441.txt : 20070319 0001193125-07-057441.hdr.sgml : 20070319 20070316213257 ACCESSION NUMBER: 0001193125-07-057441 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20070316 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070319 DATE AS OF CHANGE: 20070316 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: 07701751 BUSINESS ADDRESS: STREET 1: 9221 EAST VIA DE VENTURA CITY: SCOTTSDALE STATE: AZ ZIP: 85258 BUSINESS PHONE: 4806063886 MAIL ADDRESS: STREET 1: 9221 EAST VIA DE VENTURA CITY: SCOTTSDALE STATE: AZ ZIP: 85258 FORMER COMPANY: FORMER CONFORMED NAME: RURAL METRO CORP /DE/ DATE OF NAME CHANGE: 19930528 8-K 1 d8k.htm FORM 8-K Form 8-K

UNITED STATES

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): March 16, 2007

 


RURAL/METRO CORPORATION

(Exact name of registrant as specified in its charter)

 

DELAWARE    0-22056    86-0746929

(State or other jurisdiction

of incorporation)

   (Commission File Number)   

(IRS Employer

Identification No.)

9221 East Via de Ventura

Scottsdale, Arizona

85258

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (480) 606-3886

 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



Item 7.01 Regulation FD Disclosure.

On March 16, 2007, Rural/Metro Corporation (the “Company”) issued a press release, dated March 16, 2007, regarding the award of a renewal contract with the City of Tucson, Arizona. The full text of the Company’s press release is attached hereto as Exhibit 99.1.

Item 8.01 Other Events.

The Company issued a press release, dated March 16, 2007, announcing that it had changed its method of accounting for revenue and uncompensated care, previously referred to as the provision for doubtful accounts, in order to align with the preferred industry standard. In addition, the Company announced that it expected to file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2006 prior to the expiration of the 60-day cure period relating to its notes. Subsequent to the initial release, the Company corrected a typographical error in the release relating to the expiration of the cure period for the notes, which is April 23, 2007. The full text of the Company’s press release (as corrected) is attached hereto as Exhibit 99.2 and is incorporated into this Item 8.01.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

 

Exhibit No.   

Description

99.1    Press release, dated March 16, 2007, regarding award of renewal of contract.
99.2    Press release, dated March 16, 2007, regarding change in accounting method for revenue.

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 16, 2007

    By:   /s/ Kristine A. Beian-Ponczak
       

Kristine A. Beian-Ponczak

Senior Vice President and Chief Financial Officer


EXHIBIT INDEX

 

Exhibit
No.
  

Description

99.1    Press release, dated March 16, 2007, regarding renewal of contract.
99.2    Press release, dated March 16, 2007, regarding change in accounting method for revenue.
EX-99.1 2 dex991.htm PRESS RELEASE REGARDING RENEWAL OF CONTACT Press release regarding renewal of contact

Exhibit 99.1

LOGO

 

CONTACT:   

Liz Merritt, Rural/Metro Corporation (investors)

(480) 606-3337

Jeff Stanlis, Hayden Communications (media)

(602) 476-1821

For immediate release

CITY OF TUCSON AWARDS 911 RENEWAL CONTRACT

TO SOUTHWEST AMBULANCE

SCOTTSDALE, Ariz. (March 16, 2007)—Rural/Metro Corporation (Nasdaq: RURL) announced today that its Southwest Ambulance division has been awarded a renewal contract to continue as the exclusive 911 emergency medical transportation partner to the City of Tucson, Arizona, and the Tucson Fire Department.

Southwest Ambulance has been the sole provider of Basic Life Support (BLS) medical transportation services in Tucson for more than a decade. The latest renewal contract term began March 1, 2007 and is renewable annually through 2012. Tucson Fire Department provides all Advanced Life Support (ALS) ambulance transports within the city. Billing services for all Tucson Fire Department transports are provided under a separate contract with Southwest Ambulance.

Jack Brucker, President and Chief Executive Officer, said, “Our longstanding partnership with in Tucson serves as a excellent example of our ability to tailor our services to the needs of a growing community and to partner with fire department professionals to enhance delivery of high-quality patient care.”

Tucson Fire Department Assistant Chief Dave Ridings said, “This partnership involves cooperation, open dialogue, and strategic planning that is wholly devoted to providing rapid patient care of the highest quality. Southwest Ambulance continues to be responsive to the needs of the city and our department whenever pre-hospital issues arise. We believe we have been and will continue to be well-served through this contract.”

Jeff Sargent, President of Southwest Ambulance, added, “We are pleased to continue our partnership in Tucson. We look forward to continuing to work closely with the Tucson Fire Department to explore innovative ways to enhance the delivery of emergency services to Tucson residents.”


Southwest Ambulance responds to more than 28,000 BLS ambulance requests for transports each year throughout the City of Tucson and employs nearly 250 emergency service professionals to meet the medical transportation needs of the community.

About Rural/Metro

Rural/Metro Corporation provides emergency and non-emergency medical transportation, fire protection, and other safety services in 24 states and approximately 400 communities throughout the United States. For more information, visit the company’s web site at www.ruralmetro.com.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the company’s ability to collect its accounts receivable, secure new contracts, retain existing contracts, and improve earnings and operating margins. Although Rural/Metro believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.

Reference is made to a more complete discussion of forward-looking statements and applicable risks that may cause actual results to differ materially from those contemplated by such forward-looking statements (“Cautionary Statements”) that include, among others, those identified under the captions “Forward-Looking Statements and Factors That May Affect Results” and “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2006, which is available free of charge on the website of the Securities and Exchange Commission (the “SEC”) at www.sec.gov or on the Company’s website at www.ruralmetro.com. All subsequent written and oral forward-looking statements (or statements that may be attributed to the Company) are expressly qualified by the Cautionary Statements. The Company’s forward-looking statements are based on information available today, and it undertakes no obligation to update these statements, whether as a result of new information, future events or otherwise, except as required by the securities laws.

(RURL/G)

###

EX-99.2 3 dex992.htm PRESS RELEASE REGARDING CHANGE IN ACCOUNTING METHOD OF REVENUE Press release regarding change in accounting method of revenue

Exhibit 99.2

LOGO

 

CONTACT:   

Liz Merritt, Rural/Metro Corporation (investors)

(480) 606-3337

Jeff Stanlis, Hayden Communications (media)

(602) 476-1821

For immediate release

RURAL/METRO CHANGES ACCOUNTING METHOD FOR REVENUE;

REVISES ESTIMATE FOR EFFECT OF INVENTORY RESTATEMENT

SCOTTSDALE, Ariz. (March 16, 2007)—Rural/Metro Corporation (NASDAQ: RURL), a leading provider of medical transportation and private fire protection services, announced today that it will change its method of accounting for revenue and uncompensated care, previously referred to as the provision for doubtful accounts, in order to align with the preferred industry standard. The Company will present revenue net of contractual discounts and estimated uncompensated care.

The Company historically has presented revenue net of contractual discounts. The estimate for uncompensated care, previously defined as the provision for doubtful accounts, was presented as an operating expense. The new method will have no impact on operating income, net income, earnings per share, or operating cash flows as reported in the current year or in prior years.

The change will coincide with the Company’s previously announced inventory restatement and will be retrospectively reflected in the Company’s Annual Report on Form 10-K/A for the year ended June 30, 2006, as well as Quarterly Reports on Form 10-Q/A for the three months ended March 31, 2006 and September 30, 2006. The new method of accounting will be presented in the Company’s future reports, including the Quarterly Report for the quarter ended December 31, 2006.

The Company also announced it has revised its estimate of the effect of restating previously issued financial statements related to inventories for fiscal years 2002 through 2006 and the quarter ended September 30, 2006. Prior-period financial statements will be restated for the impact of expensing durable medical items and will result in estimated inventory adjustments as follows (in millions):

 

Cumulative

 

3 Mos. Ended
9/30/2006

 

FY

2006

 

FY

2005

 

FY

2004

 

FY

2003

 

FY

2002

 

Beg. Retained
Earnings

($4.3)

  ($0.07)   ($0.04)   ($0.5)   $0.1   $0.3   $0.7   ($4.8)

Additionally, the Company has received a waiver from lenders under its Term Loan B credit facility relating to the Company’s delay in filing its Quarterly Report for the quarter ended December 31, 2006 in order to complete the restatement. In connection with the Company’s


notes, the Company expects to file the Quarterly Report for the quarter ended December 31, 2006 prior to the expiration of their applicable cure period to file such report, which is April 23, 2007.

The Company anticipates announcing results for the quarter ended December 31, 2006 upon completion of the restatement and the filing of the amended reports. A conference call to discuss results will be announced in a separate communication.

About Rural/Metro

Rural/Metro Corporation provides emergency and non-emergency medical transportation, private fire protection, and other safety services in 24 states and approximately 400 communities throughout the United States. For more information, visit the Company’s web site at www.ruralmetro.com.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS

The information contained in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks and uncertainties include, among others, the Company’s ability to finalize and file restated financial statements. Although Rural/Metro believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.

Reference is made to a more complete discussion of forward-looking statements and applicable risks that may cause actual results to differ materially from those contemplated by such forward-looking statements (“Cautionary Statements”) that include, among others, those identified under the captions “Forward-Looking Statements and Factors That May Affect Results” and “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2006, which is available free of charge on the website of the Securities and Exchange Commission (the “SEC”) at www.sec.gov or on the Company’s website at www.ruralmetro.com. All subsequent written and oral forward-looking statements (or statements that may be attributed to the Company) are expressly qualified by the Cautionary Statements.

The Company’s forward-looking statements are based on information available today, and it undertakes no obligation to update these statements, whether as a result of new information, future events or otherwise, except as required by the securities laws.

(RURL/F)

###

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-----END PRIVACY-ENHANCED MESSAGE-----