www.Carpark-Fly.com: Central Parking Corporation (NYSE:CPC) today announced that operating earnings before property-related gains and losses for its second fiscal quarter ended March 31, 2007, increased to $11.0 million compared with $5.2 million in the second quarter of the previous fiscal year. Total revenues for the second fiscal quarter were approximately $280 million compared with $270 million in the second quarter of 2006. Excluding reimbursed management expenses, revenues in the second quarter of fiscal 2007 were $158 million compared with $157 million in the prior year period.
Earnings from continuing operations for the second quarter of fiscal 2007 increased to $1.3 million from breakeven in the year-earlier period. The Company reported net earnings of $1.0 million, or $0.03 per diluted share, for the second quarter of fiscal 2007 compared with net earnings of $2.0 million, or $0.06 per diluted share, in the year earlier period. Earnings from continuing operations and net earnings include property-related gains and losses (including impairments) and merger-related expenses. Pre-tax property-related losses totaled $0.6 million in the second quarter of fiscal 2007 compared with losses of $1.2 million in the second quarter of last year. Expenses relating to the pending merger of the Company recorded in the second quarter of fiscal 2007 totaled $5.1 million.
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