Please standby we are about to begin. Good day everyone and welcome to today’s ABM Industries First Quarter Fiscal Year 2009 Conference Call. Today's call is being recorded. At this time I would like to turn the conference over to Mr. Henrik Slipsager. Please go ahead sir.

Thank you. I am Henrik Slipsager, President and CEO of ABM. Joining me today are Jim Lusk, Executive Vice President and CFO, and Sara McConnell, our Senior Vice President and General Counsel. On the call today, I will provide an overview of the 2009 fiscal first quarter ended January 31. Jim will discuss the details of our financial results. I’ll conclude our prepared remarks with a summary of the company’s operational achievement for the quarter as well as provide an update of management’s outlook for the first half of fiscal ‘09 as well as guidance for the full year. In addition, we are providing a slide presentation to accompany today’s prepared remarks. You can access the presentation now by going to our website at www.abm.com and under the Investor Relations tab you’ll see the Presentations tab on the left hand side of the page. Today’s presentation will be the first listed. Sarah?

Thank you, Henrik. I will pause for a moment to allow everyone a few moments to access our presentation on the ABM website. Referring to slide three and four of the presentation, before we begin, I need to tell you that our presentation today contains predictions, estimates, and other forward-looking statements. Our use of the words estimate, expect, and similar expressions are intended to identify these statements. These statements represent our current judgment on what the future holds. While we believe them to be reasonable, these statements are subject to risk and uncertainties that could cause our actual results to differ materially. Some of the important factors relating to our business are described in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Report on Form 10-K/A that we file with the SEC. During the course of this presentation certain non-GAAP financial information will be presented. A reconciliation of those numbers to GAAP financial measures is available on the company’s website under Investor Relations.

Thank you, Sarah. Now, please turn to slide five and six for a review of our consolidated financial results and operating performance for the first quarter. We delivered a strong performance despite challenging market conditions as we aggressively drove sales, pricing, and cost reductions to achieve double-digit earning growth, while our top line for the first quarter was relatively flat year-over-year at $887.5 million, which includes 12 more days of revenue contribution from OneSource, we significantly improved our profitability by focusing on cost savings, operational improvements, and synergies across our operating platform. Income from continuing operations more than doubled to $14.8 million and operating profit rose 73%. All of our core businesses janitorial, engineering, parking and security grew their operating profits compared to the year ago quarter and the strategic acquisition of OneSource continues to enhance financial performance. While the quarter did benefit from a $9.6 million or $5.8 million aftertax claims settlement related to a third-party administrator that no longer perform these services for ABM, this benefit was partially offset by a $6.6 million or $4 million aftertax of cost relating to corporate initiatives. Adjusted EBITDA for the first quarter was $30.3 million, a 27% increase for the same period last year. We improved our operating cash flow from total operations by nearly $51 million compared to the same period last year. And we ended the quarter with $227 million in debt on our balance sheet and over $100 million of availability on our credit facility. Yesterday, we announced the quarterly cash dividend of $0.13 per common share. ABM continues to reward our shareholders as this marks our 172nd consecutive dividend payment. Turning to slide seven, to drive result in this more challenging economy and offset the slowdown in commercial real estate, occupancy levels, we are focused on aspects…

Thank you, Henrik and good morning everyone. As I review our financial results for the first quarter, please keep in mind that the results discussed today exclude the results from our Lighting segment, substantially all of the operating assets of which we sold in the fourth quarter of fiscal 2008. Results from the Lighting segment are classified as discontinued operations. During the quarter, we recorded a $538,000 loss from discontinued operations, net of taxes or $0.01 per diluted share primarily related to severance and transition cost from the Lighting business. Unless otherwise noted results discussed today reflect continuing operations. Turning now to the first quarter fiscal 2000 (sic) (2009) results on slide eight. We are pleased with our solid overall performance particularly on the bottom line in light of recessionary pressures. Even though revenues for the first quarter were flat year-over-year at $887.5 million, compared to $887.8 million in the prior year period, operating profit increased 73% to $26 million in the first quarter of fiscal 2009 from $15 million in the same period last year. As Henrik noted, due to our focus on cost savings, synergies and performance improvements, our gross margin percent improved from 9.4 to a 11.3 in the quarter ended January 31, 2009, compared to a year ago quarter. Excluding the margin benefit from the settlement with a former third-party administrator of workers' compensation claims gross margin was 10.2%. Income from continuing operations was $14.8 million or $0.29 per diluted share for the first quarter of 2009, compared to $6.3 million or $0.13 per diluted share in the same period last year. Adjusted income from continuing operations before items impacted comparability increased 63% to $13 million in the first quarter of fiscal 2009 from $8 million in the same period last year. Items affecting comparability showed…

Thank you, Jim. I will now briefly review the operational results for the first quarter as well as update our outlook for the first half of fiscal '09. While the economic climate is causing downward pressure on revenues, we are pleased with our ability to improve our operating efficiencies, and drive operating profits across all divisions. Turning now to slide 10. For the first quarter, janitorial revenue increased by $2.4 million or 0.4% to $608.4 million, which does include 12 more days of revenue contribution from OneSource. Janitorial operating profit for the quarter increased a $11.4 million or 54.3% to $32.3 million as our team continue to execute on operational synergies from the OneSource acquisition and improve operational efficiencies across all regions. In addition, we had one less workday in the fiscal quarter of '09 that accounted for approximately one-third of the improvement year-over-year. We continue to have a solid pipeline of new business and as I mentioned, we remain focused on eliminating less profitable contracts and higher credit risk customers. Turning to slide 11. Parking revenue decreased in the first quarter by $2.3 million or 2%, $215.7 million due to management reimbursement revenue and reduced expenses at management contract locations, hotels, and airports. These costs are primarily passthroughs, so there is no negative margin impact. Excluding management reimbursement revenues, parking revenues increased by $2 million or 3.7% primarily due to new customers and an increased level of service to existing customers, especially in the Midwest, Southwest, and at HPSA. Operating profit for the first quarter increased 6.5% to $4.1 million. Profit from the parking segment remained strong, careful expense management plan, put in place in advance of the economic downturn. Continued organic growth at HPSA and a larger concentration of managed lots all contributed to the result. We are…

Thank you. (Operator Instructions). We will take our first question from David Gold, Sidoti. David Gold – Sidoti & Co.: Hi, good morning. Couple of follow-up questions, Henrik can you speak a little bit more to the climate or essentially what's happening in janitorial along the lines of and obviously revenue there is stable, but profitability up a bit some of it obviously attributed to OneSource, but, what's happening when you're presumably going or renegotiating on these contacts?

Well, I think a lot of things, it's not one or two things isolated, but the fact of life is that we are working very proactively with clients that wants cutback in their overall expense for their services and in that process we of course want to make sure that we can maintain profitability as much as possible and at the same time we are also trying to reduce some of our overhead associated with the accounts. So, overall if you look at it we will maintain in certain cases improve overall profitability, but not all directly associated with the account. David Gold – Sidoti & Co.: How do you reduce overhead on the accounts?

Well, some of it is associated with indirect costs associated with the account, the direct expenses associated with an account could be increased productivity, it could be change of specifications for the client in a changing environment, there might be clients that we work with that who will increase new sites. So, we have a bigger base to do the business on. There could be times where you work with a client if they're closing their offices down a week or month and I can't go [inner] on, there is no golden rule. The only golden rule is that we are proactive dealing with those clients in order to first to maintain the client, and second of all maintain profitability, and thirdly, but probably most important make sure the client is happy. David Gold – Sidoti & Co.: Okay. And then on your slides for janitorial, there is a note about a solid pipeline of new business and, curious if you can add some color there, I would guess in this environment, that would be winning business away market share gains rather than sort of new business to the environment or?

No, but that's accurate. I think the positive in this business if non-existing clients are faced for the challenging environment and using a number of different contractors we are very attractive because we are the only one with a national footprint and naturally they will come to us to see if they with one relationship with one client and achieve some savings, they may not be able to do with the 42 different subcontractors they are using today. So, I think size and footprint in this particular case are driving opportunities. David Gold – Sidoti & Co.: Okay. Can you also, I’m not sure if you gave a number, but can you give a sense for integration synergies where we are with that from the OneSource?

We are running on a annualized basis around 45 million, which I think is up from $44 million last quarter last year and if you remember the committed goal we had was around $47.5 million by the end of '09 and we are still targeting that, but of course the as you can see we are very close to our aim goals. So, the level of increases quarter-over-quarter will be very minimum. David Gold – Sidoti & Co.: Okay. And then one just last one, maybe this is more appropriate for Jim basically to your comment on tag work, presumably, if we go back a couple of quarters we had a little bit of an issue there with the financials, New York, San Francisco say it seems like from what I can tell over the last couple of quarters it's stabilized or maybe that work is bottomed out, but can you give some color I mean is there still work coming baked in there from the financials or has that really bottomed and what sort of a status for that piece of business?

Yeah. Thanks David. The reason I made the comment on tag work because I think its not always clear that it's not of risk, I mean most of the tag work as I said is related to things like storms and floods and cleaning out universities and things like that that's where the bulk of the work is. The work that we talked about last quarter, which is a small percentage of the overall tag work that is down, that is primarily in places like the financial industry, et cetera and we don’t see much more of that going down at this point in time. So, that's pretty much baked into our forecast and baked into where we are at this point. David Gold – Sidoti & Co.: Gotcha. And, I mean would it be fair to say as I said your expectation from those clients is presumably a lot lower maybe closer to almost or is very minimal at this point?

Yeah. I think the time of having IPO parties and holiday celebrations and that kind of stuff is clearly off the map, especially for some of the big companies that we read in the papers on the front page every single day. So, those things are fairly minimal right now. But the bulk of our tag work, which is the work I talked about earlier, that is continuing and that's not the kind of stuff that tends to be a jeopardy in this situation unless less act of god go away, so that's what would have to happen really. David Gold – Sidoti & Co.: Gotcha. That's it. Very good. Thank you both.

Thank you.

(Operator Instructions). And we have no further questions at this time. I’d like to turn the conference back over to Mr. Slipsager for any additional or closing remarks.

Well we are very proud of our first quarter and I want to thank all of the employees for a great job for the first quarter and we look very much forward to talk to all of you at the end of the second quarter. Have a nice day.

Ladies and gentlemen that concludes today's conference. We appreciate your participation. You may disconnect at this time.