Federal Signal Corp. (FSS)

Federal Signal Corporation designs and manufactures a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers worldwide. The company operates in three segments: Safety and Security Systems, Fire Rescue, and Environmental Solutions. The Safety and Security Systems segment offers various systems for automated license plate recognition, campus and community alerting, emergency vehicles, first responder interoperable communications, industrial communications and command, municipal networked security, vehicle classification, parking revenue, and access control. This segment also provides products, such as lightbars and sirens, public warning sirens and public safety software. The Fire Rescue segment offers articulated and telescopic aerial platforms for rescue, fire fighting, and maintenance purposes. This segment sells its products to municipal and industrial fire services, civil defense authorities, rental companies, electric utilities and industrial customers. The Environmental Solutions segment provides various self-propelled street cleaning vehicles, vacuum loader vehicles, municipal catch basin/sewer cleaning vacuum trucks, and water blasting equipment. The company was founded in 1901 and is based in Oak Brook, Illinois.

For the nine months ended 30 September 2006, Federal Signal Corporation's revenues rose 6% to $901.4M. Net income from continuing ops. fell 28% to $24.5M. Revenues reflect higher volume of safety & environmental product shipments and increased pricing across all segments. Net income was offset by an increase in interest expense due to a rise in short term borrowing rates and the absence of gain on sale of the product lines recorded in the prior year period.