Rural/Metro makes early debt payment - East Valley Tribune: Business

Rural/Metro makes early debt payment

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Posted: Thursday, November 9, 2006 6:01 am | Updated: 2:17 pm, Fri Oct 7, 2011.

Scottsdale-based Rural/Metro Corp. Wednesday announced a $7 million unscheduled payment on the principal of its $293 million long-term debt.

After the payment, the company’s principal debt now stands at $100 million.

That’s down from $135 million as of March 2005.

“The company has a longstanding commitment to reduce overall debt and this payment represents another in a series of early payments in order to reach that goal,” said Liz Merritt, corporate spokeswoman.

“It comes from cash flow from operations.”

Rural/Metro’s total longterm debt is now $293 million, down from $305.5 million at the end of the fourth quarter of fiscal 2005.

The company also announced it has postponed its fourth-quarter earnings release from today to Nov. 14 because it needs more time to prepare its Form 10-Q for the U.S. Securities and Exchange Commission.

For the fiscal year that ended June 30, Rural/Metro reported $548.5 million in revenue, compared with $501.5 million for the previous year.

Net income totaled $3.5 million, including a $5.9 million loss from discontinued operations, compared with $88.3 million for fiscal 2005.

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