ABM Industries Incorporated (NYSE:ABM) has released its fourth quarter earnings for 2009. The financial results will be available on the company’s website, http://www.abm.com/. The company reported an increase in income from Continuing Operations and Record Net Cash Flow from Operations in addition to an improved outlook for fiscal 2010 and an increased quarterly dividend.
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The company’s fourth quarter revenues were 4.2% lower than the previous year’s during the same period at $868 vs. $905.8 respectively. It’s net cash provided by operating activities, however, increased by 104.6% from $31.5 to $64.4 compared to the third quarter earnings for 2008. Net income and net income per diluted share were reported at $15 and $0.29 respectively, a 29.7% and 38.1% increase.
ABM Industries Incorporated (ABM) is a facility services contractor in the United States. ABM and its subsidiaries provide janitorial, parking, security and engineering services for commercial, industrial, institutional and retail facilities in 100 of cities throughout the United States. As of October 31, 2008, the Company operated through four segments: Janitorial, Parking, Security and Engineering. In January 2008, the Company acquired the remaining 50% equity stake in Southern Management Company, a facility services company based in Chattanooga, Tennessee. On October 31, 2008, ABM Industries Incorporated and certain of its subsidiaries completed sale of its Amtech Lighting Services business to Sylvania Lighting Services Corp.
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