EXHIBIT 99.2
Federal Signal Corporation
2007 Income by Quarter
($’s in millions, except per share data)
2007 Income by Quarter
($’s in millions, except per share data)
Q1 | Q2 | Q3 | Q4 | Full Year | ||||||||||||||||
2007 | 2007 | 2007 | 2007 | 2007 | ||||||||||||||||
Net Sales | $ | 213.0 | $ | 243.2 | $ | 228.5 | $ | 257.0 | $ | 941.7 | ||||||||||
Cost of sales | (157.4 | ) | (176.2 | ) | (164.4 | ) | (187.9 | ) | (685.9 | ) | ||||||||||
Operating expenses | (38.8 | ) | (44.4 | ) | (44.5 | ) | (46.0 | ) | (173.7 | ) | ||||||||||
Operating income | 16.8 | 22.6 | 19.6 | 23.1 | 82.1 | |||||||||||||||
Interest expense | (6.1 | ) | (5.7 | ) | (6.4 | ) | (8.0 | ) | (26.2 | ) | ||||||||||
Other expense | (0.3 | ) | (0.4 | ) | (0.3 | ) | (2.1 | ) | (3.1 | ) | ||||||||||
Income before income taxes | 10.4 | 16.5 | 12.9 | 13.0 | 52.8 | |||||||||||||||
Income tax expense | (3.1 | ) | (4.3 | ) | (2.7 | ) | (1.9 | ) | (12.0 | ) | ||||||||||
Income from continuing operations | 7.3 | 12.2 | 10.2 | 11.1 | 40.8 | |||||||||||||||
Gain (loss) from discontinued operations and disposal, net of tax | 23.4 | (1.1 | ) | (5.7 | ) | (2.5 | ) | 14.1 | ||||||||||||
Net income | $ | 30.7 | $ | 11.1 | $ | 4.5 | $ | 8.6 | $ | 54.9 | ||||||||||
Gross margin on revenues | 26.1 | % | 27.5 | % | 28.1 | % | 26.9 | % | 27.2 | % | ||||||||||
Operating margin on revenues | 7.9 | % | 9.3 | % | 8.6 | % | 9.0 | % | 8.7 | % | ||||||||||
Effective Tax Rate | 30.1 | % | 26.0 | % | 21.0 | % | 15.0 | % | 22.9 | % | ||||||||||
Diluted earnings per share: | ||||||||||||||||||||
Income from continuing operations | $ | 0.15 | $ | 0.25 | $ | 0.21 | $ | 0.23 | $ | 0.85 | ||||||||||
Gain (loss) from discontinued operations and disposal, net of tax | 0.49 | (0.02 | ) | (0.12 | ) | (0.05 | ) | 0.30 | ||||||||||||
Diluted earnings per share | $ | 0.64 | $ | 0.23 | $ | 0.09 | $ | 0.18 | $ | 1.15 | ||||||||||
Average common shares outstanding — millions | 47.8 | 47.8 | 47.8 | 47.8 | 47.8 | |||||||||||||||
Memorandum: Depreciation and amortization expense | $ | 2.6 | $ | 3.1 | $ | 3.5 | $ | 4.2 | $ | 13.4 |
Federal Signal Corporation
2007 Segment Income by Quarter
($’s in millions)
2007 Segment Income by Quarter
($’s in millions)
Q1 | Q2 | Q3 | Q4 | Full Year | ||||||||||||||||
2007 | 2007 | 2007 | 2007 | 2007 | ||||||||||||||||
Group results: | ||||||||||||||||||||
Safety and Security Systems Group: | ||||||||||||||||||||
Orders | $ | 97.9 | $ | 93.0 | $ | 88.5 | $ | 88.1 | $ | 367.5 | ||||||||||
Net Sales | 78.7 | 95.9 | 94.4 | 98.2 | 367.2 | |||||||||||||||
Operating Income | 9.5 | 14.3 | 12.7 | 13.1 | 49.6 | |||||||||||||||
Operating Margin | 12.0 | % | 14.9 | % | 13.5 | % | 13.3 | % | 13.5 | % | ||||||||||
Backlog | $ | 78.0 | $ | 75.3 | $ | 71.7 | $ | 61.2 | $ | 61.2 | ||||||||||
Fire Rescue Group: | ||||||||||||||||||||
Orders | $ | 61.5 | $ | 38.2 | $ | 36.5 | $ | 43.7 | $ | 179.9 | ||||||||||
Net Sales | 20.6 | 30.7 | 25.2 | 47.2 | 123.7 | |||||||||||||||
Operating Income | 1.7 | 3.6 | 2.9 | 5.4 | 13.6 | |||||||||||||||
Operating Margin | 8.3 | % | 11.7 | % | 11.5 | % | 11.4 | % | 11.0 | % | ||||||||||
Backlog | $ | 105.5 | $ | 114.8 | $ | 132.4 | $ | 133.6 | $ | 133.6 | ||||||||||
Environmental Solutions Group: | ||||||||||||||||||||
Orders | $ | 110.5 | $ | 108.1 | $ | 102.7 | $ | 136.9 | $ | 458.2 | ||||||||||
Net Sales | 113.7 | 116.6 | 108.9 | 111.6 | 450.8 | |||||||||||||||
Operating Income | 10.1 | 11.1 | 9.5 | 9.5 | 40.2 | |||||||||||||||
Operating Margin | 8.9 | % | 9.5 | % | 8.7 | % | 8.5 | % | 8.9 | % | ||||||||||
Backlog | $ | 125.5 | $ | 117.0 | $ | 111.4 | $ | 136.9 | $ | 136.9 | ||||||||||
Corporate operating expenses | $ | (4.5 | ) | $ | (6.4 | ) | $ | (5.5 | ) | $ | (4.9 | ) | $ | (21.3 | ) | |||||
Total Operating Income | $ | 16.8 | $ | 22.6 | $ | 19.6 | $ | 23.1 | $ | 82.1 | ||||||||||