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FEDERAL SIGNAL CORP /DE/

SEC Form 10-Q filed 2010-07-30 for the period ending 2010-06-30


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Selected tables from the SEC filing

Table 0

Financial table in standard format

FEDERAL SIGNAL CORPORATION
INDEX TO FORM 10-Q
         
    Page
Part I. Financial Information
     
 
       
Item 1. Condensed Consolidated Financial Statements (unaudited)
     
 
       
Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2010 and 2009
     
 
       
Condensed Consolidated Balance Sheets as of June 30, 2010 and December 31, 2009
     
 
       
Condensed Consolidated Statement of Shareholders Equity for the Six Months Ended June 30, 2010
     
 
       
Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2010 and 2009
     
 
       
Notes to Condensed Consolidated Financial Statements
     
 
       
Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    23   
 
       
Item 3. Quantitative and Qualitative Disclosures About Market Risk
    30   
 
       
Item 4. Controls and Procedures
    30   
 
       
Part II. Other Information
    31   
 
       
Item 1. Legal Proceedings
    31   
 
       
Item 1A. Risk Factors
    31   
 
       
Item 5. Other Information
    31   
 
       
Item 6. Exhibits
    31   
 
       
Signatures
    32   
 
       
       
FEDERAL SIGNAL CORP /DE/ CIK:277509
Notes to Condensed Consolidated Financial Statements8
Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations23
Item 3. Quantitative and Qualitative Disclosures About Market Risk30
Item 4. Controls and Procedures30
Part II. Other Information31
Item 1. Legal Proceedings31
Item 1A. Risk Factors31
Item 5. Other Information31
Item 6. Exhibits31
Signatures32
Data column 1: Unable to interpret date in column header

Table 1

Financial table in standard format

FEDERAL SIGNAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
                                 
    Three months ended June 30,     Six months ended June 30,  
(in millions, except per share data)   2010     2009     2010     2009  
Net sales
  $ 198.7     $ 198.5     $ 365.2     $ 382.9  
Costs and expenses
                               
Cost of sales
    (145.3 )     (146.6 )     (270.1 )     (284.6 )
Selling, general and administrative
    (44.2 )     (43.6 )     (83.4 )     (85.4 )
Acquisition and integration related costs
    (1.1 )           (3.7 )      
Restructuring charges
    (3.7 )           (4.0 )      
 
                       
Operating income
    4.4       8.3       4.0       12.9  
Interest expense
    (3.2 )     (2.8 )     (6.1 )     (6.2 )
Other (expense) income, net
    (0.5 )     0.1       (1.3 )     (0.8 )
 
                       
Income (loss) before income taxes
    0.7       5.6       (3.4 )     5.9  
Income tax benefit (expense)
    0.7       (1.2 )     2.0       (1.0 )
 
                       
Income (loss) from continuing operations
    1.4       4.4       (1.4 )     4.9  
Loss from discontinued operations and disposal, net of income tax benefit (expense) of $1.0, ($0.3), $1.2, and ($0.6), respectively
    (1.8 )     (9.3 )     (2.6 )     (8.8 )
 
                       
Net loss
  $ (0.4 )   $ (4.9 )   $ (4.0 )   $ (3.9 )
 
                       
COMMON STOCK DATA:
                               
Basic and diluted earnings (loss) per share:
                               
Earnings (loss) from continuing operations
  $ 0.02     $ 0.09     $ (0.03 )   $ 0.10  
Loss from discontinued operations and disposal
    (0.03 )     (0.19 )     (0.05 )     (0.18 )
 
                       
Loss per share
  $ (0.01 )   $ (0.10 )   $ (0.08 )   $ (0.08 )
 
                       
Weighted average common shares outstanding:
                               
Basic
    57.1       48.0       53.0       48.4  
Diluted
    57.2       48.0       53.1       48.4  
Cash dividends per share of common stock
  $ 0.06     $ 0.06     $ 0.06     $ 0.06  
FEDERAL SIGNAL CORP /DE/ CIK:277509
2010-03-30
to
2010-06-30
(3-months)
2009-03-30
to
2009-06-30
(3-months)
2009-12-30
to
2010-06-30
(6-months)
2008-12-30
to
2009-06-30
(6-months)
Net sales$198.7$198.5$365.2$382.9
Costs and expenses
Cost of sales(145.3)(146.6)(270.1)(284.6)
Selling, general and administrative(44.2)(43.6)(83.4)(85.4)
Acquisition and integration related costs(1.1)(3.7)
Restructuring charges(3.7)(4.0)
Operating income4.48.34.012.9
Interest expense(3.2)(2.8)(6.1)(6.2)
Other (expense) income, net(0.5)0.1(1.3)(0.8)
Income (loss) before income taxes0.75.6(3.4)5.9
Income tax benefit (expense)0.7(1.2)2.0(1.0)
Income (loss) from continuing operations1.44.4(1.4)4.9
Loss from discontinued operations and disposal, net of income tax benefit (expense) of $1.0, ($0.3), $1.2, and ($0.6), respectively(1.8)(9.3)(2.6)(8.8)
Net loss$(0.4)$(4.9)$(4.0)$(3.9)
COMMON STOCK DATA:
Basic and diluted earnings (loss) per share:
Earnings (loss) from continuing operations$0.02$0.09$(0.03)$0.10
Loss from discontinued operations and disposal(0.03)(0.19)(0.05)(0.18)
Loss per share$(0.01)$(0.10)$(0.08)$(0.08)
Weighted average common shares outstanding:
Basic57.148.053.048.4
Diluted57.248.053.148.4
Cash dividends per share of common stock$0.06$0.06$0.06$0.06

Table 2

Financial table in standard format

FEDERAL SIGNAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
                 
    June 30,     December 31,  
    2010     2009  
($ in millions, except per share data)              
ASSETS
               
Current assets
               
Cash and cash equivalents
  $ 13.2     $ 21.1  
Accounts receivable, net of allowances for doubtful accounts of $2.3 million and $2.5 million, respectively
    123.9       119.8  
Inventories, net
    113.8       111.5  
Other current assets
    24.3       26.0  
 
           
Total current assets
    275.2       278.4  
Properties and equipment, net
    64.6       65.5  
Other assets
               
Goodwill
    374.5       319.6  
Intangible assets, net of accumulated amortization
    97.6       50.5  
Deferred tax assets
    17.6       17.5  
Deferred charges and other assets
    4.0       1.7  
 
           
Total assets of continuing operations
    833.5       733.2  
Assets of discontinued operations
    9.7       12.2  
 
           
Total assets
  $ 843.2     $ 745.4  
 
           
LIABILITIES AND SHAREHOLDERS EQUITY
               
Current liabilities
               
Short-term borrowings
  $ 8.0     $  
Current portion of long-term borrowings and capital lease obligations
    13.2       41.9  
Accounts payable
    52.2       45.2  
Customer deposits
    10.2       10.4  
Accrued liabilities
               
Compensation and withholding taxes
    20.5       20.8  
Other
    48.7       48.4  
 
           
Total current liabilities
    152.8       166.7  
Long-term borrowings and capital lease obligations, less current portion
    213.4       159.7  
Long-term pension liabilities
    38.4       39.6  
Deferred gain
    23.3       24.2  
Other long-term liabilities
    12.0       12.2  
 
           
Total liabilities of continuing operations
    439.9       402.4  
Liabilities of discontinued operations
    12.5       14.3  
 
           
Total liabilities
    452.4       416.7  
Shareholders equity
               
Common stock, $1 par value per share, 90.0 million shares authorized, 63.1 million and 49.6 million shares issued, respectively
    63.1       49.6  
Capital in excess of par value
    164.1       93.8  
Retained earnings
    229.7       240.4  
Treasury stock, 0.9 million and 0.8 million shares at cost, respectively
    (15.8 )     (15.8 )
Accumulated other comprehensive loss
    (50.3 )     (39.3 )
 
           
Total shareholders equity
    390.8       328.7  
 
           
Total liabilities and shareholders equity
  $ 843.2     $ 745.4  
 
           
FEDERAL SIGNAL CORP /DE/ CIK:277509
2010-06-30 2009-12-31
($ in millions, except per share data)
ASSETS
Current assets
Cash and cash equivalents$13.2$21.1
Accounts receivable, net of allowances for doubtful accounts of $2.3 million and $2.5 million, respectively123.9119.8
Inventories, net113.8111.5
Other current assets24.326.0
Total current assets275.2278.4
Properties and equipment, net64.665.5
Other assets
Goodwill374.5319.6
Intangible assets, net of accumulated amortization97.650.5
Deferred tax assets17.617.5
Deferred charges and other assets4.01.7
Total assets of continuing operations833.5733.2
Assets of discontinued operations9.712.2
Total assets$843.2$745.4
LIABILITIES AND SHAREHOLDERS EQUITY
Current liabilities
Short-term borrowings$8.0
Current portion of long-term borrowings and capital lease obligations13.241.9
Accounts payable52.245.2
Customer deposits10.210.4
Accrued liabilities
Compensation and withholding taxes20.520.8
Other48.748.4
Total current liabilities152.8166.7
Long-term borrowings and capital lease obligations, less current portion213.4159.7
Long-term pension liabilities38.439.6
Deferred gain23.324.2
Other long-term liabilities12.012.2
Total liabilities of continuing operations439.9402.4
Liabilities of discontinued operations12.514.3
Total liabilities452.4416.7
Shareholders equity
Common stock, $1 par value per share, 90.0 million shares authorized, 63.1 million and 49.6 million shares issued, respectively63.149.6
Capital in excess of par value164.193.8
Retained earnings229.7240.4
Treasury stock, 0.9 million and 0.8 million shares at cost, respectively(15.8)(15.8)
Accumulated other comprehensive loss(50.3)(39.3)
Total shareholders equity390.8328.7
Total liabilities and shareholders equity$843.2$745.4

Table 3

Financial table in standard format

At June 30, 2010 and December 31, 2009, the fair value of the Companys derivative instruments was recorded as follows:
                                 
    Asset Derivatives     Liability Derivatives  
    June 30, 2010     June 30, 2010  
($ in millions)   Balance Sheet Location     Fair Value     Balance Sheet Location     Fair Value  
Derivatives designated as hedging instruments:
                               
Foreign exchange
  Other current assets   $ 0.1     Other accrued liabilities   $ 0.4  
 
                           
Total derivatives designated as hedging instruments
            0.1               0.4  
Derivatives not designated as hedging instruments:
                               
Foreign exchange
  Accounts receivable, net     1.1     Other accrued liabilities      
 
                           
Total derivatives not designated as hedging instruments
            1.1                
 
                           
Total derivatives
          $ 1.2             $ 0.4  
 
                           
FEDERAL SIGNAL CORP /DE/ CIK:277509
2010-06-30 2010-06-30 2010-06-30 2010-06-30
($ in millions)
Derivatives designated as hedging instruments:
Foreign exchange$0.1$0.4
Total derivatives designated as hedging instruments0.10.4
Derivatives not designated as hedging instruments:
Foreign exchange1.1
Total derivatives not designated as hedging instruments1.1
Total derivatives$1.2$0.4

Table 4

Financial table in standard format

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Derivatives
 
 
Liability Derivatives
 
 
 
June 30, 2010
 
 
June 30, 2010
 
($ in millions)
 
Balance Sheet Location
 
 
Fair Value
 
 
Balance Sheet Location
 
 
Fair Value
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
Other current assets
 
$
0.1
 
 
Other accrued liabilities
 
$
0.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives designated as hedging instruments
 
 
 
 
 
 
0.1
 
 
 
 
 
 
 
0.4
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
Accounts receivable, net
 
 
1.1
 
 
Other accrued liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives not designated as hedging instruments
 
 
 
 
 
 
1.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives
 
 
 
 
 
$
1.2
 
 
 
 
 
 
$
0.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
    Asset Derivatives     Liability Derivatives  
    December 31, 2009     December 31, 2009  
($ in millions)   Balance Sheet Location     Fair Value     Balance Sheet Location     Fair Value  
Derivatives designated as hedging instruments:
                  Other accrued liabilities   $ 0.5  
Foreign exchange
  Other current assets         Other accrued liabilities     0.1  
 
                           
Total derivatives designated as hedging instruments
                          0.6  
Derivatives not designated as hedging instruments:
                               
Foreign exchange
  Accounts receivable, net         Other accrued liabilities     0.4  
 
                           
Total derivatives not designated as hedging instruments
                          0.4  
 
                           
Total derivatives
          $             $ 1.0  
 
                           
FEDERAL SIGNAL CORP /DE/ CIK:277509
2009-12-31 2009-12-31 2009-12-31
($ in millions)
Derivatives designated as hedging instruments:$0.5
Foreign exchange0.1
Total derivatives designated as hedging instruments0.6
Derivatives not designated as hedging instruments:
Foreign exchange0.4
Total derivatives not designated as hedging instruments0.4
Total derivatives$1.0
Row "($ in millions)": Multi-column field in a numeric row
Row "Total derivatives": Multi-column field in a numeric row

Table 5

Table column format standardization was unsuccessful.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Derivatives
 
 
Liability Derivatives
 
 
 
December 31, 2009
 
 
December 31, 2009
 
($ in millions)
 
Balance Sheet Location
 
 
Fair Value
 
 
Balance Sheet Location
 
 
Fair Value
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Other accrued liabilities
 
$
0.5
 
Foreign exchange
 
Other current assets
 
 
 
 
Other accrued liabilities
 
 
0.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
0.6
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange
 
Accounts receivable, net
 
 
 
 
Other accrued liabilities
 
 
0.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
0.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives
 
 
 
 
 
$
 
 
 
 
 
 
$
1.0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The effect of derivative instruments on the condensed consolidated statement of operations for the three months ended June 30, 2010, was as follows:
                         
            Location of Gain/(Loss)        
($ in millions)   Amount of Gain/(Loss)     Reclassified from     Amount of Gain Reclassified  
Derivatives in Cash Flow   Recognized in OCI on     Accumulated OCI into     from Accumulated OCI into  
Hedging Relationships   Derivative (Effective Portion)     Income (Effective Portion)     Income (Effective Portion)  
Interest rate contracts
  $ 0.0     Interest expense   $ 0.3  
Foreign exchange
    (0.3 )   Net sales     0.5  
 
                   
Total
  $ (0.3 )           $ 0.8  
 
                   
Unable to find the column headers.

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    (3..4)   [1..1] ( num): '(0.3)'
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Row 9



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Table attributes: assets,balancesheet,date,liabilities,cash,incomestatement

Table 6

Table column format standardization was unsuccessful.

 
 
 
 
 
 
 
 
 
Derivatives Not Designated as
 
Location of Gain Recognized in
 
 
Amount of Gain Recognized in
 
Hedging Instruments
 
Income on Derivative
 
 
Income on Derivative
 
Foreign exchange
 
Other income (expense)
 
$
0.5
 
 
 
 
 
 
 
 
 
Total
 
 
 
 
 
$
0.5
 
 
 
 
 
 
 
 
 
The effect of derivative instruments on the condensed consolidated statement of operations for the six months ended June 30, 2010, was as follows:
                         
            Location of Gain/(Loss)        
($ in millions)   Amount of Gain/(Loss)     Reclassified from     Amount of Gain Reclassified  
Derivatives in Cash Flow   Recognized in OCI on     Accumulated OCI into     from Accumulated OCI into  
Hedging Relationships   Derivative (Effective Portion)     Income (Effective Portion)     Income (Effective Portion)  
Interest rate contracts
  $ 0.3     Interest expense   $ 0.4  
Foreign exchange
    (0.8 )   Net sales     0.5  
 
                   
Total
  $ (0.5 )           $ 0.9  
 
                   
Unable to find the column headers.

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    (2..3)   [1..1] (stub): 'Amount of Gain/(Loss)'
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    (6..7)   [2..2] (stub): 'Accumulated OCI into'
  (10..11)   [3..3] (stub): 'from Accumulated OCI into'

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    [0..0)   [0..0] (stub): 'Hedging Relationships'
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    (6..7)   [2..2] (stub): 'Income (Effective Portion)'
  (10..11)   [3..3] (stub): 'Income (Effective Portion)'

Row 5
    [0..0)   [0..0] (stub): 'Interest rate contracts'
    [2..3]   [1..1] ( num): '$0.3'
      Attributes: num=>3 [1..1]  
    [6..8)   [2..2] (stub): 'Interest expense'
  [10..11]   [3..3] ( num): '$0.4'
      Attributes: num=>4 [3..3]  

Row 6
    [0..0)   [0..0] (stub): 'Foreign exchange'
    (3..4)   [1..1] ( num): '(0.8)'
    [6..8)   [2..2] (stub): 'Net sales'
  (11..11]   [3..3] ( num): '0.5'
      Attributes: num=>0 [3..3]  num=>5 [3..3]  

Row 7

Row 8
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Row 9



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    [2..4)          ( num): ''
  [10..11]          ( num): ''

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Table attributes: date,cash,incomestatement

Table 7

Financial table in standard format

The coupon rates also increased by an additional 2% on April 1, 2010 as a result of the Companys private placement debt rating not improving by one rating level on or before April 1, 2010.
7. SHAREHOLDERS EQUITY
In May 2010, the Company issued 12.1 million common shares at a price of $6.25 per share for total gross proceeds of $75.5 million. After deducting direct fees, net proceeds to the Company totaled $71.0 million. Proceeds from the equity offering were used to pay down debt.
8. INCOME TAXES
The Companys effective tax rate for continuing operations was (91.2)% and 19.9% for the three month periods ended June 30, 2010 and 2009, respectively.
The Companys effective tax rate for continuing operations was (57.4)% and 16.4% for the six month periods ended June 30, 2010 and 2009, respectively.
The lower tax rates in the three and six month periods ending June 30, 2010 are caused by a $0.6 million tax benefit recorded in the second quarter primarily related to the net effects of a release in reserves for state income taxes and an increase in reserves for certain non-U.S. income taxes.
The Companys unrecognized tax benefits were $5.0 million at January 1, 2010 of which $4.7 million are tax benefits that if recognized, would reduce the annual effective tax rate. The Companys continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. Interest and penalties amounting to $0.5 million and $0.1 million, respectively, are included in the consolidated balance sheet at June 30, 2010. The Company expects the unrecognized tax benefits to decrease by $0.2 over the next 12 months. In the six months ended June 30, 2010, the Companys unrecognized tax benefits decreased by $0.6 million.
9. POSTRETIREMENT BENEFITS
The components of the Companys net periodic pension expense for its defined benefit pension plans are summarized as follows:
                                                                 
    U.S. Benefit Plans     Non-U.S. Benefit Plan  
    Three months ended     Six months ended     Three months ended     Six months ended  
    June 30,     June 30,     June 30,     June 30,  
($ in millions)   2010     2009     2010     2009     2010     2009     2010     2009  
Interest cost
  $ 2.0     $ 1.9     $ 3.9     $ 4.0     $ 0.8     $ 0.7     $ 1.5     $ 1.3  
Expected return on plan assets
    (2.2 )     (2.5 )     (4.4 )     (4.8 )     (0.8 )     (0.7 )     (1.5 )     (1.3 )
Amortization of actuarial loss
    0.9       0.5       1.9       1.0       0.2       0.1       0.3       0.4  
 
                                               
Net periodic pension expense (income)
  $ 0.7     $ (0.1 )   $ 1.4     $ 0.2     $ 0.2     $ 0.1     $ 0.3     $ 0.4  
 
                                               
FEDERAL SIGNAL CORP /DE/ CIK:277509
2010-03-30
to
2010-06-30
(3-months)
2009-03-30
to
2009-06-30
(3-months)
2009-12-30
to
2010-06-30
(6-months)
2008-12-30
to
2009-06-30
(6-months)
2010-03-30
to
2010-06-30
(3-months)
2009-03-30
to
2009-06-30
(3-months)
2009-12-30
to
2010-06-30
(6-months)
2008-12-30
to
2009-06-30
(6-months)
Interest cost$2.0$1.9$3.9$4.0$0.8$0.7$1.5$1.3
Expected return on plan assets(2.2)(2.5)(4.4)(4.8)(0.8)(0.7)(1.5)(1.3)
Amortization of actuarial loss0.90.51.91.00.20.10.30.4
Net periodic pension expense (income)$0.7$(0.1)$1.4$0.2$0.2$0.1$0.3$0.4

Table 8

Financial table in standard format

Fire Rescue Group
Our Fire Rescue Group is a leading manufacturer and supplier of sophisticated, vehicle-mounted, aerial platforms for fire fighting, rescue, electric utility and industrial uses. End customers include fire departments, industrial fire services, electric utilities, maintenance rental companies for applications such as fire fighting and rescue, transmission line maintenance, and installation and maintenance of wind turbines. The groups telescopic/articulated aerial platforms are designed in accordance with various regulatory codes and standards, such as European Norms (EN), National Fire Protection Association (NFPA) and American National Standards Institute (ANSI). In addition to equipment sales, the group sells parts, service and training as part of a complete offering to its customer base. The group manufactures in Finland and sells globally under the Bronto Skylift
brand name.
Results of Operations
The following information summarizes our consolidated statements of operations and illustrates the key financial indicators used to assess our consolidated financial results:
                                                 
    Three months ended June 30,     Six months ended June 30,  
($ in millions, except per share data)   2010     2009     Change     2010     2009     Change  
Net sales
  $ 198.7     $ 198.5     $ 0.2     $ 365.2     $ 382.9     $ (17.7 )
Cost of sales
    (145.3 )     (146.6 )     1.3       (270.1 )     (284.6 )     14.5  
 
                                   
Gross profit
    53.4       51.9       1.5       95.1       98.3       (3.2 )
Selling, general and administrative
    (44.2 )     (43.6 )     (0.6 )     (83.4 )     (85.4 )     2.0  
Acquisition and integration related costs
    (1.1 )           (1.1 )     (3.7 )           (3.7 )
Restructuring charges
    (3.7 )           (3.7 )     (4.0 )           (4.0 )
 
                                   
Operating income
    4.4       8.3       (3.9 )     4.0       12.9       (8.9 )
Interest expense
    (3.2 )     (2.8 )     (0.4 )     (6.1 )     (6.2 )     0.1  
Other expense, net
    (0.5 )     0.1       (0.6 )     (1.3 )     (0.8 )     (0.5 )
Income tax benefit (expense)
    0.7       (1.2 )     1.9       2.0       (1.0 )     3.0  
 
                                   
Income (loss) from continuing operations
    1.4       4.4       (3.0 )     (1.4 )     4.9       (6.3 )
(Loss) gain from discontinued operations and disposal, net of tax
    (1.8 )     (9.3 )     7.5       (2.6 )     (8.8 )     6.2  
 
                                   
Net loss
  $ (0.4 )   $ (4.9 )   $ 4.5     $ (4.0 )   $ (3.9 )   $ (0.1 )
 
                                   
Other data:
                                               
Operating margin
    2.2 %     4.2 %     (2.0 %)     1.1 %     3.4 %     (2.3 %)
Loss per share continuing operations
  $ 0.02     $ 0.09     $ 0.07     $ (0.03 )   $ 0.10     $ (0.13 )
Orders
  $ 187.3     $ 152.3     $ 35.0     $ 386.0     $ 311.3     $ 74.7  
Depreciation and amortization $ 5.0   $ 3.7   $ 1.3   $ 9.2   $ 7.4   $ 1.8  
FEDERAL SIGNAL CORP /DE/ CIK:277509
2010-03-30
to
2010-06-30
(3-months)
2009-03-30
to
2009-06-30
(3-months)
2009-12-30
to
2010-06-30
(6-months)
2008-12-30
to
2009-06-30
(6-months)
Net sales$198.7$198.5$0.2$365.2$382.9$(17.7)
Cost of sales(145.3)(146.6)1.3(270.1)(284.6)14.5
Gross profit53.451.91.595.198.3(3.2)
Selling, general and administrative(44.2)(43.6)(0.6)(83.4)(85.4)2.0
Acquisition and integration related costs(1.1)(1.1)(3.7)(3.7)
Restructuring charges(3.7)(3.7)(4.0)(4.0)
Operating income4.48.3(3.9)4.012.9(8.9)
Interest expense(3.2)(2.8)(0.4)(6.1)(6.2)0.1
Other expense, net(0.5)0.1(0.6)(1.3)(0.8)(0.5)
Income tax benefit (expense)0.7(1.2)1.92.0(1.0)3.0
Income (loss) from continuing operations1.44.4(3.0)(1.4)4.9(6.3)
(Loss) gain from discontinued operations and disposal, net of tax(1.8)(9.3)7.5(2.6)(8.8)6.2
Net loss$(0.4)$(4.9)$4.5$(4.0)$(3.9)$(0.1)
Other data:
Operating margin2.24.2(2.01.13.4(2.3
Loss per share continuing operations$0.02$0.09$0.07$(0.03)$0.10$(0.13)
Orders$187.3$152.3$35.0$386.0$311.3$74.7
Depreciation and amortization$5.0$3.7$1.3$9.2$7.4$1.8
Data column 3: Unable to interpret date in column header
Data column 6: Unable to interpret date in column header

Original filing from SEC EDGAR system.