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Stericycle: Results for the third quarter
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Stericycle, Inc., reported financial results for the third quarter of 2008.
Revenues for the quarter ended September 30, 2008 were $277.1 million, up 16.8% from $237.3 million in the same quarter last year. Acquisitions less than 12 months old contributed approximately $18.0 million to the growth in revenues for the quarter. Gross profit was $123.0 million, up 15.2% from $106.8 million in the same quarter last year. Gross profit as a percent of revenue was 44.4% versus 45.0% in the third quarter of 2007.
Net income for the third quarter of 2008 was $39.2 million or $0.45 per diluted share compared with net income of $32.9 million or $0.37 per diluted share for the third quarter of 2007.
For the nine months ended September 30, 2008, revenues were $809.7 million, up 18.9% from $681.2 million in the same period last year. Gross profit was $359.8 million, up 17.7% from $305.6 million in the same period last year. Gross profit as a percent of revenues was 44.4% versus 44.9% in the same period in 2007. Earnings per diluted share increased 18.2% to $1.24 from $1.05 per diluted share in the same period last year. Earnings per diluted share for the nine months ended 2008 were negatively impacted by $0.04 per diluted share related to the arbitration settlement recorded in the first quarter of 2008.
Cash flow from operations was $156.3 million for the first nine months of 2008. Cash flow and increased loan balances were used to strengthen our business and funded share repurchases, acquisitions, international investments and capital expenditures.
For more information about Stericycle, please visit our website at www.stericycle.com.
Safe Harbor Statement: Statements in this press release may contain forward-looking statements that involve risks and uncertainties, some of which are beyond our control (for example, general economic conditions). Our actual results could differ significantly from the results described in the forward-looking statements. Factors that could cause such differences include changes in governmental regulation of medical waste collection and treatment and increases in transportation and other operating costs, as well as the other factors described in our filings with the U.S. Securities and Exchange Commission. As a result, past financial performance should not be considered a reliable indicator of future performance, and investors should not use historical trends to anticipate future results or trends. We make no commitment to disclose any subsequent revisions to forward-looking statements.
Contact:
Stericycle, Inc.
Frank ten Brink 847-607-2012
Source: Stericycle, Inc.
Stericycle, Inc., reported financial results for the third quarter of 2008.
Revenues for the quarter ended September 30, 2008 were $277.1 million, up 16.8% from $237.3 million in the same quarter last year. Acquisitions less than 12 months old contributed approximately $18.0 million to the growth in revenues for the quarter. Gross profit was $123.0 million, up 15.2% from $106.8 million in the same quarter last year. Gross profit as a percent of revenue was 44.4% versus 45.0% in the third quarter of 2007.
Net income for the third quarter of 2008 was $39.2 million or $0.45 per diluted share compared with net income of $32.9 million or $0.37 per diluted share for the third quarter of 2007.
For the nine months ended September 30, 2008, revenues were $809.7 million, up 18.9% from $681.2 million in the same period last year. Gross profit was $359.8 million, up 17.7% from $305.6 million in the same period last year. Gross profit as a percent of revenues was 44.4% versus 44.9% in the same period in 2007. Earnings per diluted share increased 18.2% to $1.24 from $1.05 per diluted share in the same period last year. Earnings per diluted share for the nine months ended 2008 were negatively impacted by $0.04 per diluted share related to the arbitration settlement recorded in the first quarter of 2008.
Cash flow from operations was $156.3 million for the first nine months of 2008. Cash flow and increased loan balances were used to strengthen our business and funded share repurchases, acquisitions, international investments and capital expenditures.
For more information about Stericycle, please visit our website at www.stericycle.com.
Safe Harbor Statement: Statements in this press release may contain forward-looking statements that involve risks and uncertainties, some of which are beyond our control (for example, general economic conditions). Our actual results could differ significantly from the results described in the forward-looking statements. Factors that could cause such differences include changes in governmental regulation of medical waste collection and treatment and increases in transportation and other operating costs, as well as the other factors described in our filings with the U.S. Securities and Exchange Commission. As a result, past financial performance should not be considered a reliable indicator of future performance, and investors should not use historical trends to anticipate future results or trends. We make no commitment to disclose any subsequent revisions to forward-looking statements.
Contact:
Stericycle, Inc.
Frank ten Brink 847-607-2012
Source: Stericycle, Inc.