30.7.20006: Meldung: Stericycle, Inc.: Results for Second Quarter 2006

Stericycle, Inc. Reports Results for Second Quarter 2006
Thursday July 27, 4:03 pm ET

LAKE FOREST, Ill.-- July 27, 2006--Stericycle, Inc. today reported financial results for the second quarter of 2006.


SECOND QUARTER AND YEAR TO DATE RESULTS

Revenues for the quarter ended June 30, 2006 were $198.4 million, up 33.0% from $149.1 million in the same quarter last year. Acquisitions less than 12 months old contributed approximately $32.6 million in revenues for the quarter. Gross profit was $87.6 million, up 34.1% from $65.3 million in the same quarter last year. Gross profit as a percent of revenues was 44.1% versus 43.8% in the second quarter of 2005.

Net income for the second quarter of 2006 was $25.2 million or $0.56 per diluted share compared with net income of $23.0 million or $0.51 per diluted share for the same quarter last year. During the quarter we wrote off a $1.0 million investment ($0.6 million net of tax or $0.014 per share).

For the six months ended June 30, 2006, revenues increased to $377.7 million, up 30.4% from $289.7 million in the same period a year ago. Gross profit was $166.3 million, up 31.8% from $126.2 million in the same period a year ago. Gross profit as a percent of revenues was 44.0% versus 43.6% in the same period in 2005. Earnings per diluted share increased 8.8% to $1.08 from $0.99 per diluted share in the same period a year ago.

Net income in the second quarter of 2006 included $1.6 million of stock compensation expense ($2.7 million pre-tax) or $0.04 per diluted share recorded as a result of the adoption of FASB Statement No. 123R on January 1, 2006. Net income for the first six months of 2006 included $3.2 million of stock compensation expense ($5.3 million pre-tax) or $0.07 per diluted share.

Debt increased in the first six months due to acquisitions resulting in our total debt to capitalization percentage ratio at June 30, 2006 increasing to 45.0% from 40.9% at December 31, 2005.

Cash flow from operations was $64.3 million for the first six months of 2006. Cash flow and increased loan balances were used to strengthen our business and funded $126.1 million in acquisitions and international investments, $13.9 million in stock repurchases and $15.7 million in capital spending.

For more information about Stericycle, please visit our website at www.stericycle.com.

Contact:

Stericycle, Inc.
Frank ten Brink, 847-607-2012

Source: Stericycle, Inc.
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