Federal Signal (FSS) Tops Q4 EPS by 3c; Will Acquire Joe Johnson Equipment in ~$79M Deal
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Federal Signal Finishes Strong Year with Operating Income of $103 million, up 16%
February 29, 2016 6:46 AM ESTOAK BROOK, Ill., Feb. 29, 2016 /PRNewswire/ -- Federal Signal Corporation (NYSE: FSS), a leader in environmental and safety solutions, today reported results for the fourth quarter and year ended December 31, 2015.Â
Consolidated net sales for the fourth quarter were $186.4 million, down 11% versus the same quarter a year ago. Fourth quarter income from continuing operations was $17.4 million, equal to $0.27 per diluted share, compared to $19.9 million, or $0.31 per share, in the prior-year quarter. The Company also reported adjusted net income from continuing operations for the fourth quarter of $16.0 million, equal to $0.25 per diluted... More
Federal Signal Executes Agreement to Acquire Joe Johnson Equipment
February 29, 2016 6:45 AM ESTOAK BROOK, Ill., Feb. 29, 2016 /PRNewswire/ --Â Federal Signal Corporation (NYSE: FSS), a leader in environmental and safety solutions, announced today the signing of a definitive agreement to acquire substantially all of the assets and operations of Joe Johnson Equipment ("JJE"), a leading Canadian-based distributor of maintenance equipment for municipal and industrial markets, for initial consideration of C$108 million (approximately U.S. $79 million), subject to post-closing adjustments. In addition, there is a deferred payment of C$8 million and a contingent earn-out payment of up to C$10 million. The transaction... More
