Published on April 26, 2012 at 12:05 AM
Stericycle, Inc. (NASDAQ:SRCL), today reported financial results
for the first quarter of 2012.
Revenues for the quarter ended March 31, 2012 were $460.1 million, up
15.6% from $398.1 million from the first quarter last year. Acquisitions
contributed approximately $41.0 million to the current period growth in
revenues compared with last year in the period. The impact on revenues
from foreign exchange in the quarter was $3.3 million unfavorable. Gross
profit was $205.3 million, up 12.5% from $182.4 million in the first
quarter last year. Gross profit as a percent of revenue was 44.6%
compared with 45.8% in the first quarter of 2011.
Net income attributable to Stericycle for the first quarter of 2012 was
$64.9 million or $0.75 per diluted share compared with $55.7 million or
$0.64 per diluted share for the first quarter of 2011. Net income
attributable to Stericycle for the first quarter of 2012 and first
quarter of 2011 includes acquisition expenses, adjustments of contingent
consideration to fair value, and other items. Excluding the effects of
these items, non-GAAP earnings per diluted share were $0.78 for the
quarter (see table below). Our non-GAAP earnings per diluted share
increased 12.9% from our non-GAAP earnings per diluted share of $0.69 in
the first quarter of 2011.
Cash flow from operations was $99.6 million and $65.6 million for the
three months ended March 31, 2012 and 2011, respectively.
Source: Stericycle, Inc.