This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Heritage-Crystal Clean, Inc. Announces 2012 Fourth Quarter And Full Year Financial Results

ELGIN, Ill., Feb. 20, 2013 (GLOBE NEWSWIRE) -- Heritage-Crystal Clean, Inc. (Nasdaq:HCCI), a leading provider of parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services primarily focused on small and mid-sized customers, today announced results for the fourth quarter of fiscal 2012 and for the full fiscal year, which ended December 29, 2012.

Fourth quarter highlights include:

  • Revenues increased 41.4%, to $77.6 million, compared to $54.9 million in the fourth quarter of fiscal 2011. This increase was due to organic growth in the Environmental Services segment and the ramp up of the Oil Business segment.  
  • Loss per share was $0.01 in the fourth quarter of fiscal 2012 compared to a loss of $0.01 in the fourth quarter of fiscal 2011.  
  • Our Environmental Services segment includes parts cleaning, containerized waste, and vacuum services. During the fourth quarter, Environmental Services revenues increased $6.3 million, or 16.6% compared to the fourth quarter of fiscal 2011, primarily from organic growth. In addition, revenues for the Environmental Services segment in the fourth quarter include $1.2 million in revenues from the licensing of one of our parts washer designs for both fiscal 2012 and prior years.  
  • Same-branch sales for our Environmental Services segment increased 9.3% for the quarter, measured for the 66 branches that were in operation throughout both the fourth quarters of fiscal 2012 and 2011. Excluding the three branches in this group that gave up customers to new branch openings, the remaining 63 branches experienced an increase of $4.4 million, or 12.8% from fiscal 2011 to fiscal 2012.  
  • Average sales per working day in our Environmental Services segment was approximately $570,000, compared to $495,000 in the fourth quarter of fiscal 2011 and compared to $555,000 in the third quarter of fiscal 2012.  
  • Our Oil Business segment includes used oil collection and re-refining activities. During the fourth quarter of fiscal 2012, Oil Business revenues increased $16.4 million, to $33.2 million from $16.8 million in the fourth quarter of fiscal 2011, reflecting revenues from sales of base oil produced in our used oil re-refinery in Indianapolis, which had only produced intermediate products and byproducts in the fourth quarter of fiscal 2011. 

Fiscal year 2012 highlights include:   

  • For fiscal 2012, revenues increased 65.2% to $252.5 million, compared to $152.9 million in fiscal 2011. This increase was due to organic growth in the Environmental Services segment and production of re-refined base oil and byproducts at the used oil re-refinery.  
  • Basic and diluted earnings per share was $0.13 for fiscal 2012, compared to basic and diluted EPS of $0.10 in fiscal 2011.  
  • During fiscal 2012, Environmental Services segment revenues increased $19.6 million, or 16.4% when compared to fiscal 2011.   
  • For fiscal 2012 Environmental Services segment same-branch sales increased 11.9%, measured for the 66 branches that were in operation throughout both fiscal 2012 and fiscal 2011. Excluding the three branches in this group that gave up customers to new branch openings, the remaining 63 branches experienced an increase of $15.9 million, or 14.9% from fiscal 2011 to fiscal 2012.  
  • Average sales per working day in our Environmental Services segment was approximately $550,000, compared to $470,000 in fiscal 2011.  
  • During fiscal 2012, Oil Business revenues increased $80.0 million, or 240%. 

The Company's Founder, President, and Chief Executive Officer, Joe Chalhoub, commented, "The fourth quarter contained both achievements and challenges for the Company. In the Environmental Services segment we were able to continue to grow revenues at a double digit rate versus the prior year's fourth quarter. We also improved our margin in this segment compared to the third quarter of fiscal 2012. Commodity pricing continued to negatively impact the revenue and margin performance in our Oil Business segment. We also continue to work on improving the efficiency of our used oil collection routes, reducing the cost of transportation, and improving the efficiency of our re-refinery operations." 

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs