Barrington Research: Standard Parking's Q4/11 Preview

In a research report published today by Barrington Research, Standard Parking Corp. STAN will report fourth quarter 2011 financial results on Wednesday, March 7, after market close. According to Barrington Research, “We forecast parking services revenue of $81.3 million, up 0.2% YOY. The Street consensus is $83.0 million. We forecast a 0.6% year-over-year increase in gross profit to $22.8 million, due to a difficult year-ago growth comparison (+28) and headwinds from a previously disclosed contract termination in Canada near the end of 2010. We expect general and administrative expenses to decline 7.1% YOY on an absolute basis due to recent technology investments and process improvements that are expected to reduce G&A costs by $1.3 million annually in 2011 and beyond. We forecast fourth quarter EPS of $0.31 versus $0.29 last year, up 8.8%. The Street consensus is $0.30.” Barrington Research maintains its Outperform rating on Standard Parking, which closed yesterday at $19.00.