This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

Swisher Hygiene Announces Results For The Three-Month Period Ended March 31, 2012

Stocks in this article: SWISWSH

CHARLOTTE, N.C., March 11, 2013 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitizing products and services, announced today that it has filed its 10-Q for the three-month period ended March 31, 2012. All amounts in this news release are in United States dollars.

First Quarter 2012 Highlights

  • The Waste segment, which was sold on November 15, 2012, is reported as discontinued operations beginning in the first quarter of 2012.  
  • Total revenue from continuing operations of $58.2 million, a 171% increase compared to the prior-year period. Hygiene revenue from company-owned operations, excluding acquisitions, increased 19% from the prior-year period.  
  • Adjusted EBITDA loss of $4.1 million based on a net loss from continuing operations of $13.3 million. For a reconciliation of non-GAAP to GAAP measures, please review the disclosures and table included with this release.  
  • Basic and diluted loss per share from continuing operations of $0.08, compared to basic and diluted loss per share from continuing operations of $0.04 in the prior-year period.

"Our progress in filing our outstanding financials continues with today's filing of our first quarter 2012 Form 10-Q and our plan to complete the filings of our second and third quarter 2012 Form 10-Qs as soon as possible," said Thomas Byrne, President and Chief Executive Officer of Swisher Hygiene. "As we review our financial results, it is important to keep in mind that we have reported our Waste segment as discontinued operations and these reported results reflect only our continuing Hygiene operations, which we believe provides more meaningful information to our shareholders."

"In terms of our first quarter 2012 results, we achieved 19% revenue growth from hygiene company-owned operations when excluding acquisitions," continued Mr. Byrne. "While our cost of sales increased as a percentage of our revenue due primarily to entering the wholesale chemical sales business in the latter half of 2011 through our acquisitions of Daley, Cavalier and Kitter, we saw considerable improvement in our route expense as a percentage of revenue through our initial route consolidation initiatives. We remain dedicated to serving our customers nationwide on a day-to-day basis with our comprehensive core chemical program as well as our complementary hygiene and sanitation services, and we look forward to providing additional 2012 results in the near future."

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 16,714.51 +36.61 0.22%
S&P 500 1,955.13 +4.31 0.22%
NASDAQ 4,465.9190 +13.1270 0.29%

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