Revenues Increase 24% Driven by Acquired Companies

Weaker Economy Impacts Outlook

NEW YORK--(BUSINESS WIRE)-- ABM Industries Incorporated (NYSE:ABM):

					Three Months Ended												Nine Months Ended
(in millions,					July 31,								Increase				July 31,								Increase
except per share data)					2011				2010				(Decrease)				2011				2010				(Decrease)
Revenues					$	1,076.2			$	869.0			23.8	%			$	3,165.5			$	2,594.4			22.0	%
Net cash provided by continuing operating activities					$	51.0			$	35.2			44.9	%			$	82.6			$	73.0			13.1	%
Income from continuing operations					$	27.9			$	21.0			33.1	%			$	50.5			$	42.4			19.1	%
Income from continuing operations per diluted share					$	0.51			$	0.40			27.5	%			$	0.93			$	0.80			16.3	%
Net income					$	27.9			$	21.0			33.0	%			$	50.5			$	42.3			19.2	%
Net income per diluted share					$	0.51			$	0.40			27.5	%			$	0.93			$	0.80			16.3	%
Adjusted income from continuing operations					$	27.9			$	22.0			27.0	%			$	54.6			$	47.9			13.9	%
Adjusted income from continuing operations per diluted share					$	0.51			$	0.42			21.4	%			$	1.01			$	0.91			11.0	%
Adjusted EBITDA					$	54.9			$	45.9			19.7	%			$	132.7			$	108.0			22.9	%
(This release refers to non-GAAP financial measures described as "Adjusted EBITDA", "Adjusted Income from Continuing Operations", and "Adjusted Income from Continuing Operations per Diluted Share" (or "Adjusted EPS"). Refer to the accompanying financial tables for supplemental financial data and corresponding reconciliation of these non-GAAP financial measures to certain GAAP financial measures.)

ABM Industries Incorporated (NYSE:ABM) today announced revenues for the third quarter of fiscal year 2011 of $1.08 billion, a 23.8% increase compared to third quarter of fiscal year 2010 revenues of $869.0 million. Income from continuing operations for the third quarter of fiscal year 2011 was $27.9 million, a 33.1% increase from $21.0 million in the third quarter of fiscal year 2010. Income from continuing operations per diluted share for the third quarter of fiscal year 2011 increased 27.5% to $0.51 compared to income from continuing operations per diluted share of $0.40 in the third quarter of fiscal year 2010. Income from continuing operations increased primarily as a result of a $4.7 million after-tax increase in Divisional operating profit, driven by the companies acquired in calendar 2010, $4.7 million related to a re-measurement of certain unrecognized tax benefits and $1.5 million after-tax from settling a dispute related to an acquisition. This year-over-year increase in income from continuing operations was partially offset by higher share-based compensation expense of $2.2 million after-tax and a $1.9 million after-tax increase in interest expense compared to the year-ago quarter.

"Our Divisions once again generated quarterly revenues exceeding $1 billion, driven by the companies we acquired last year, and including slight organic growth," said Henrik Slipsager, president and chief executive officer, ABM Industries. "All four Divisions produced higher revenues year-over-year, consistent with prior quarters in the 2011 fiscal year. The higher revenues helped the Divisions' combined operating profit, excluding corporate, increase 15% to more than $60.0 million. Janitorial operating profit increased 4.6%, despite year-over-year increases in fuel costs and state unemployment insurance expenses. Our Engineering and Parking segments generated double digit growth. Engineering profits were up 61.5%, reflecting the contribution from the Linc operations we acquired in the first quarter of the current fiscal year. Parking achieved year-over-year growth of 23.1%, primarily related to operating profit associated with lots acquired in the L&R acquisition. Even as we produced higher revenues and profit in the quarter, we also saw clear signs that the current slow to no growth economy is causing clients to take additional cost containment measures, leading to further price reductions in an already compressed market. This erosion, combined with the shift in revenues from delayed federal appropriations, impacts our view of the fourth quarter."

"In the third quarter, net income and adjusted income from continuing operations both increased to nearly $28 million and $0.51 per diluted share as items impacting comparability did not significantly influence the quarter's results. As noted, our results included the $4.7 million related to a re-measurement of certain unrecognized tax benefits compared to the year-ago quarter, partially offset by the $2.2 million after-tax increase in share-based compensation expense. Adjusted EBIDTA increased to $54.9 million, up nearly 20%, and our adjusted EBITDA margin increased sequentially 114 basis points to 5.1%. We grew our cash from continuing operations, increasing nearly 45% to $51.0 million, compared to the third quarter of fiscal year 2010."

Excluding items impacting comparability, adjusted income from continuing operations was $27.9 million, or $0.51 per diluted share, for the third quarter of fiscal year 2011. This compares to adjusted income from continuing operations of $22.0 million, or $0.42 per diluted share, in the third quarter of fiscal year 2010.

The Company's adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, and excluding discontinued operations and items impacting comparability) for the third quarter of fiscal year 2011 was $54.9 million, a 19.7% increase compared to $45.9 million in the third quarter of fiscal year 2010.

Net cash from continuing operations was $51.0 million in the third quarter of fiscal year 2011, a 44.9% increase compared to $35.2 million in the third quarter of fiscal year 2010.

The Company reported revenues for the nine months ended July 31, 2011 of $3.17 billion, driven by the companies acquired in calendar 2010, a 22.0% increase compared to year-ago revenues of $2.59 billion. Income from continuing operations for the first nine months of fiscal year 2011 was $50.5 million, or $0.93 per diluted share, compared to $42.4 million, or $0.80 per diluted share, for the first nine months of fiscal year 2010. Adjusted income from continuing operations for the first nine months of fiscal year 2011 was $54.6 million, or $1.01 per diluted share, compared to $47.9 million, or $0.91 per diluted share, for the first nine months of fiscal year 2010. Adjusted EBITDA for the first nine months of fiscal year 2011 was $132.7 million, a 22.9% increase compared to $108.0 million for the first nine months of fiscal year 2010. Net cash from continuing operation increased to $82.6 million for the first nine months of fiscal year 2011, a 13.1% increase compared to $73.0 million for the first nine months of fiscal year 2010.

The Company also announced that the Board of Directors has declared a fourth quarter cash dividend of $0.14 per common share payable on November 7, 2011 to stockholders of record on October 6, 2011. This will be ABM's 182^nd consecutive quarterly cash dividend.

Guidance

Slipsager concluded: "Through the first two quarters, our performance was essentially in line with our expectations. During the third quarter, it became clear that the U.S. economy will be weaker than anticipated, impacting our clients and resulting in further price compression, particularly in our Janitorial business. Further, as we have previously discussed, the delay in passing federal appropriations had an adverse impact on the timing of awarding contracts to Linc Government Services, which we expect to shift the start of projects from fiscal year 2011 to fiscal year 2012. Taken together, along with higher unemployment insurance expense and fuel and related costs, we are lowering our expectations for the fourth quarter."

The Company now estimates that income from continuing operations per diluted share for the full 2011 fiscal year will be in the lower end of the range of $1.23 to $1.33 and is revising the range for adjusted income from continuing operations per diluted share, for the same period, to $1.32 to $1.42.

Earnings Webcast

On Friday, September 9, 2011, at 9:00 a.m. (EDT), ABM will host a live webcast of remarks by President and Chief Executive Officer Henrik Slipsager and Executive Vice President and Chief Financial Officer James Lusk.

The webcast will be accessible at: http://investor.abm.com/eventdetail.cfm?eventid=101716

Listeners are asked to be online at least 15 minutes early to register, as well as to download and install any complimentary audio software that might be required. Following the call, the webcast will be available at this URL for a period of 90 days.

In addition to the webcast, a limited number of toll-free telephone lines will also be available for listeners who are among the first to call 877-664-7395 within 15 minutes before the event. Telephonic replays will be accessible during the period from two hours to seven days after the call by dialing 855-859-2056 and then entering ID #94700142.

Earnings Webcast Presentation

In connection with the webcast to discuss earnings (see above), a slide presentation related to earnings and operations will be available at the Company's website at www.abm.com and can be accessed through the Investor Relations portion of ABM's website by clicking on the "Presentations" tab.

About ABM Industries Incorporated

ABM Industries Incorporated (NYSE:ABM), which operates through its subsidiaries (collectively "ABM"), is a leading provider of integrated facility services. With fiscal 2010 revenues of approximately $3.5 billion and nearly 100,000 employees, ABM provides commercial cleaning and maintenance, facility engineering, energy efficiency, parking and security services for thousands of commercial, industrial, government and retail clients across the United States and various international locations. ABM's business services include ABM Janitorial Services, ABM Facility Services, ABM Engineering Services, Ampco System Parking and ABM Security Services. For more information, visit www.abm.com.

Cautionary Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements that set forth management's anticipated results based on management's current plans and assumptions. Any number of factors could cause the Company's actual results to differ materially from those anticipated. These factors include but are not limited to the following: (1) risks relating to our acquisition of Linc, including risks relating to reductions in government spending on outsourced services as well as payment delays, may adversely affect a significant portion of revenues generated by government contracts, and political and compliance risks, both domestically and abroad, may adversely impact our operations; (2) our acquisition strategy may adversely impact our results of operations; (3) intense competition can constrain our ability to gain business, as well as our profitability; (4) we are subject to volatility associated with high deductibles for certain insurable risks; (5) an increase in costs that we cannot pass on to clients could affect our profitability; (6) we provide our services pursuant to agreements which are generally cancelable by either party upon 30 to 90 days' notice; (7) our success depends on our ability to preserve our long-term relationships with clients; (8) we incur significant accounting and other control costs that reduce profitability; (9) a decline in commercial office building occupancy and rental rates could affect our revenues and profitability; (10) deterioration in economic conditions in general could further reduce the demand for facility services and, as a result, reduce our earnings and adversely affect our financial condition; (11) financial difficulties or bankruptcy of one or more of our major clients could adversely affect results; (12) we are subject to risks relating to foreign currency fluctuations and foreign exchange exposure; (13) our ability to operate and pay our debt obligations depends upon our access to cash; (14) because we conduct our business through operating subsidiaries, we depend on those entities to generate the funds necessary to meet financial obligations; (15) that portion of our revenues which are generated from international operations are subject to political risks and changes in socio-economic conditions, laws and regulations, including labor, monetary and fiscal policies, which could negatively impact our ability to operate and grow our business in the international arena; (16) future declines or fluctuations in the fair value of our investments in auction rate securities that are deemed other-than-temporarily impaired could negatively impact our earnings; (17) uncertainty in the credit markets may negatively impact our costs of borrowings, our ability to collect receivables on a timely basis, and our cash flow; (18) any future increase in the level of debt or in interest rates can affect our results of operations; (19) an impairment charge could have a material adverse effect on our financial condition and results of operations; (20) we are defendants in several class and representative actions or other lawsuits alleging various claims that could cause us to incur substantial liabilities; (21) since we are an attractive employer for recent émigrés to this country and many of our jobs are filled by such, changes in immigration laws or enforcement actions or investigations under such laws could significantly adversely affect our labor force, operations and financial results as well as our reputation; (22) labor disputes could lead to loss of revenues or expense variations; (23) federal health care reform legislation may adversely affect our business and results of operations; (24) we participate in multi-employer defined benefit plans that could result in substantial liabilities being incurred; and (25) natural disasters or acts of terrorism could disrupt our services.

Additional information regarding these and other risks and uncertainties the Company faces is contained in the Company's Annual Report on Form 10-K for the year ended October 31, 2010 and in other reports the Company files from time to time with the Securities and Exchange Commission.

Use of Non-GAAP Financial Information

To supplement ABM's consolidated financial information, the Company has presented income from continuing operations, as adjusted for items impacting comparability, for the third quarter of fiscal years 2011 and 2010. The Company also presents guidance for fiscal year 2011, as adjusted. These adjustments have been made with the intent of providing financial measures that give management and investors a better understanding of the underlying operational results and trends and ABM's marketplace performance. In addition, the Company has presented earnings before interest, taxes, depreciation and amortization and excluding discontinued operations and items impacting comparability (adjusted EBITDA) for the third quarter of fiscal years 2011 and 2010. Adjusted EBITDA is among the indicators management uses as a basis for planning and forecasting future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial statements prepared in accordance with generally accepted accounting principles in the United States. (See accompanying financial tables for supplemental financial data and corresponding reconciliations to certain GAAP financial measures.)

Financial Schedules
ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED)
					Three Months Ended July 31,										Increase
(In thousands, except per share data)					2011					2010					(Decrease)
Revenues					$	1,076,247				$	869,029				23.8	%
Expenses
Operating						952,844					776,224				22.8	%
Selling, general and administrative						76,356					54,697				39.6	%
Amortization of intangible assets						6,314					2,782				127.0	%
	Total expenses					1,035,514					833,703				24.2	%
Operating profit						40,733					35,326				15.3	%
Income from unconsolidated affiliates, net						1,166					-				NM	*
Interest expense						(4,114	)				(1,149	)			258.1	%
Income from continuing operations
	before income taxes					37,785					34,177				10.6	%
Provision for income taxes						(9,874	)				(13,204	)			(25.2	)%
Income from continuing operations						27,911					20,973				33.1	%
Loss from discontinued operations, net of taxes						(36	)				(10	)			NM	*
Net Income					$	27,875				$	20,963				33.0	%
Net Income Per Common Share - Basic
	Income from continuing operations				$	0.52				$	0.40				30.0	%
	Loss from discontinued operations					-					-				NM	*
	Net Income				$	0.52				$	0.40				30.0	%
Net Income Per Common Share - Diluted
	Income from continuing operations				$	0.51				$	0.40				27.5	%
	Loss from discontinued operations					-					-				NM	*
	Net Income				$	0.51				$	0.40				27.5	%
* Not Meaningful
Average Common And Common Equivalent Shares
	Basic					53,207					52,149
	Diluted					54,201					52,996
Dividends Declared Per Common Share					$	0.140				$	0.135

ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENT INFORMATION (UNAUDITED)
					Nine Months Ended July 31,										Increase
(In thousands, except per share data)					2011					2010					(Decrease)
Revenues					$	3,165,499				$	2,594,374				22.0	%
Expenses
Operating						2,821,672					2,330,299				21.1	%
Selling, general and administrative						242,406					182,743				32.6	%
Amortization of intangible assets						17,273					8,251				109.3	%
	Total expenses					3,081,351					2,521,293				22.2	%
Operating profit						84,148					73,081				15.1	%
	Other-than-temporary impairment losses
		on auction rate security:
		Gross impairment losses				-					(114	)			NM	*
		Impairments recognized in
		other comprehensive income				-					(13	)			NM	*
Income from unconsolidated affiliates, net						2,785					-				NM	*
Interest expense						(12,477	)				(3,541	)			252.4	%
Income from continuing operations
	before income taxes					74,456					69,413				7.3	%
Provision for income taxes						(23,940	)				(26,981	)			(11.3	)%
Income from continuing operations						50,516					42,432				19.1	%
Loss from discontinued operations, net of taxes						(60	)				(117	)			NM	*
Net Income					$	50,456				$	42,315				19.2	%
Net Income Per Common Share - Basic
	Income from continuing operations				$	0.95				$	0.81				17.3	%
	Loss from discontinued operations					-					-				NM	*
	Net Income				$	0.95				$	0.81				17.3	%
Net Income Per Common Share - Diluted
	Income from continuing operations				$	0.93				$	0.80				16.3	%
	Loss from discontinued operations					-					-				NM	*
	Net Income				$	0.93				$	0.80				16.3	%
* Not Meaningful
Average Common And Common Equivalent Shares
	Basic					53,051					51,992
	Diluted					54,084					52,754
Dividends Declared Per Common Share					$	0.420				$	0.405

ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES
SELECTED CONSOLIDATED CASH FLOW INFORMATION (UNAUDITED)
					Three Months Ended July 31,
(In thousands)					2011					2010
Net cash provided by continuing operating activities						51,028					35,219
Net cash provided by discontinued operating activities						631					748
Net cash provided by operating activities					$	51,659				$	35,967
Net cash (used in) investing activities					$	(4,840	)			$	(36,193	)
Proceeds from exercises of stock options
(including income tax benefit)						1,788					3,121
Dividends paid						(7,444	)				(7,037	)
Borrowings from line of credit						179,000					69,500
Repayment of borrowings from line of credit						(210,000	)				(64,500	)
Changes in book cash overdrafts						6,160					11,101
Net cash (used in) provided by financing activities					$	(30,496	)			$	12,185
					Nine Months Ended July 31,
(In thousands)					2011					2010
Net cash provided by continuing operating activities						82,552					72,959
Net cash provided by discontinued operating activities						2,285					7,331
Net cash provided by operating activities					$	84,837				$	80,290
Acquisition of Linc (net of cash acquired)						(290,253	)				-
Other investing						(12,312	)				(47,932	)
Net cash used in investing activities					$	(302,565	)			$	(47,932	)
Proceeds from exercises of stock options
(including income tax benefit)						9,519					6,166
Dividends paid						(22,278	)				(21,051	)
Deferred financing costs paid						(4,991	)				-
Borrowings from line of credit						740,500					298,500
Repayment of borrowings from line of credit						(516,000	)				(321,000	)
Changes in book cash overdrafts						11,146					3,776
Net cash provided by (used in) financing activities						217,896				$	(33,609	)

ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION (UNAUDITED)
					July 31,				October 31,
(In thousands)					2011				2010
Assets
Cash and cash equivalents					$	39,614			$	39,446
Trade accounts receivable, net						565,267				450,513
Prepaid income taxes						4,187				1,498
Current assets of discontinued operations						2,954				4,260
Prepaid expenses						46,615				41,306
Notes receivable and other						56,923				20,402
Deferred income taxes, net						40,256				46,193
Insurance recoverables						9,240				5,138
	Total current assets					765,056				608,756
Non-current assets of discontinued operations						322				1,392
Insurance deposits						35,860				36,164
Other investments and long-term receivables						3,273				4,445
Deferred income taxes, net						42,479				51,068
Insurance recoverables						61,557				70,960
Other assets						43,223				37,869
Investments in auction rate securities						15,148				20,171
Investments in unconsolidated affiliates, net						15,911				-
Property, plant and equipment, net						62,055				58,088
Other intangible assets, net						135,119				65,774
Goodwill						746,832				593,983
	Total assets				$	1,926,835			$	1,548,670
Liabilities
Trade accounts payable					$	129,076			$	78,928
Accrued liabilities
	Compensation					98,499				89,063
	Taxes - other than income					20,141				17,663
	Insurance claims					79,316				77,101
	Other					114,549				70,119
Income taxes payable						728				977
	Total current liabilities					442,309				333,851
Income taxes payable						33,791				29,455
Line of credit						365,000				140,500
Retirement plans and other						39,134				34,626
Insurance claims						262,463				271,213
	Total liabilities					1,142,697				809,645
Stockholders' Equity						784,138				739,025
	Total liabilities and stockholders' equity				$	1,926,835			$	1,548,670

ABM INDUSTRIES INCORPORATED AND SUBSIDIARIES
REVENUES AND OPERATING PROFIT BY SEGMENT (UNAUDITED)
					Three Months Ended July 31,										Increase
(In thousands)					2011					2010					(Decrease)
Revenues
Janitorial					$	598,697				$	575,204				4.1	%
Engineering						236,213					94,383				150.3	%
Parking						153,323					114,222				34.2	%
Security						87,736					84,900				3.3	%
Corporate						278					320				(13.1	)%
					$	1,076,247				$	869,029				23.8	%
Operating Profit
Janitorial					$	40,144				$	38,380				4.6	%
Engineering						9,878					6,118				61.5	%
Parking						7,171					5,823				23.1	%
Security						2,813					2,026				38.8	%
Corporate						(19,273	)				(17,021	)			(13.2	)%
Operating profit						40,733					35,326				15.3	%
Income from unconsolidated affiliates, net						1,166					-				NM	*
Interest expense						(4,114	)				(1,149	)			258.1	%
Income from continuing operations
	before income taxes				$	37,785				$	34,177				10.6	%
REVENUES AND OPERATING PROFIT BY SEGMENT (UNAUDITED)
					Nine Months Ended July 31,										Increase
(In thousands)					2011					2010					(Decrease)
Revenues
Janitorial					$	1,783,557				$	1,717,537				3.8	%
Engineering						658,058					285,716				130.3	%
Parking						462,316					340,813				35.7	%
Security						260,630					249,209				4.6	%
Corporate						938					1,099				(14.6	)%
					$	3,165,499				$	2,594,374				22.0	%
Operating Profit
Janitorial					$	104,942				$	101,040				3.9	%
Engineering						24,170					16,415				47.2	%
Parking						16,799					16,033				4.8	%
Security						5,011					4,313				16.2	%
Corporate						(66,774	)				(64,720	)			(3.2	)%
Operating profit						84,148					73,081				15.1	%
	Other-than-temporary impairment losses
		on auction rate security:
		Gross impairment losses				-					(114	)			NM	*
		Impairments recognized in
		other comprehensive income				-					(13	)			NM	*
Income from unconsolidated affiliates, net						2,785					-				NM	*
Interest expense						(12,477	)				(3,541	)			252.4	%
Income from continuing operations
	before income taxes				$	74,456				$	69,413				7.3	%
* Not Meaningful

ABM Industries Incorporated and Subsidiaries
Reconciliations of Non-GAAP Financial Measures
(Unaudited)
(in thousands, except per share data)
						Three Months Ended July 31,										Nine Months Ended July 31,
						2011					2010					2011					2010
Reconciliation of Adjusted Income from Continuing
Operations to Net Income
Adjusted income from continuing operations						$	27,882				$	21,952				$	54,585				$	47,917
Items impacting comparability, net of taxes							29					(979	)				(4,069	)				(5,485	)
Income from continuing operations							27,911					20,973					50,516					42,432
Loss from discontinued operations							(36	)				(10	)				(60	)				(117	)
Net income						$	27,875				$	20,963				$	50,456				$	42,315
Reconciliation of Adjusted Income from Continuing
Operations to Income from Continuing Operations
Adjusted income from continuing operations						$	27,882				$	21,952				$	54,585				$	47,917
Items impacting comparability:
Linc purchase accounting							(140	)				-					(838	)				-
Corporate initiatives and other (a)							(328	)				-					(328	)				(1,869	)
Insurance adjustment							(1,079	)				-					(1,079	)				-
Litigation and other settlements							1,967					(1,006	)				1,047					(5,406	)
Acquisition costs							(385	)				(552	)				(5,312	)				(1,658	)
Total items impacting comparability							35					(1,558	)				(6,510	)				(8,933	)
Income taxes (expense) benefit							(6	)				579					2,441					3,448
Items impacting comparability, net of taxes							29					(979	)				(4,069	)				(5,485	)
Income from continuing operations						$	27,911				$	20,973				$	50,516				$	42,432
Reconciliation of Adjusted EBITDA to Net Income
Adjusted EBITDA						$	54,937				$	45,912				$	132,684				$	107,959
Items impacting comparability							35					(1,558	)				(6,510	)				(8,933	)
Discontinued operations							(36	)				(10	)				(60	)				(117	)
Income tax							(9,874	)				(13,204	)				(23,940	)				(26,981	)
Interest expense							(4,114	)				(1,149	)				(12,477	)				(3,541	)
Depreciation and amortization							(13,073	)				(9,028	)				(39,241	)				(26,072	)
Net income						$	27,875				$	20,963				$	50,456				$	42,315
(a) Corporate initiatives for the three and nine months ended July 2011 includes the integration costs associated with The Linc Group (TLG). Corporate initiatives for the three and nine months ended July 2010 includes: (i) costs associated with the implementation of a new payroll and human resources information system, (ii) the upgrade of the Company's accounting system, (iii) the completion of the corporate move from San Francisco, (iv) the integration costs associated with OneSource.
																					(Continued)
Reconciliation of Adjusted Income from Continuing Operations per Diluted
Share to Income from Continuing Operations per Diluted Share
						Three Months Ended July 31,										Nine Months Ended July 31,
						2011					2010					2011					2010
Adjusted income from continuing
operations per diluted share						$	0.51				$	0.42				$	1.01				$	0.91
Items impacting comparability, net of taxes							-					(0.02	)				(0.08	)				(0.11	)
Income from continuing operations
per diluted share						$	0.51				$	0.40				$	0.93				$	0.80
Diluted shares							54,201					52,996					54,084					52,754

ABM Industries Incorporated and Subsidiaries
Reconciliation of Estimated Adjusted Income from Continuing Operations per Diluted Share to
Income from Continuing Operations per Diluted Share for the Year Ending October 31, 2011
			Year Ending October 31, 2011
			Low Estimate					High Estimate
			(per diluted share)
Adjusted income from continuing operations per diluted share			$	1.32				$	1.42
Adjustments to income from continuing operations (a)				(0.09	)				(0.09	)
Income from continuing operations per diluted share			$	1.23				$	1.33
(a) Adjustments to income from continuing operations are expected to include transaction and integration costs associated with the acquisition of The Linc Group (TLG) and other unique items impacting comparability.

ABM Industries Incorporated
Investors & Analysts: David Farwell
(212) 297-9792
dfarwell@abm.com
or
Media: Tony Mitchell
(212) 297-9828
tony.mitchell@abm.com

Source: ABM Industries Incorporated

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