This Day On The Street
Continue to site
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

Swisher Hygiene Announces Results For The Three Months And Year Ended December 31, 2012

CHARLOTTE, N.C., May 1, 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 fourth quarter and full year results, as well as the filing of its Form 10-K, for the period ended December 31, 2012. All amounts in this news release are in United States dollars.

Fourth Quarter 2012 Highlights
  • The Waste segment, which was sold on November 15, 2012, is reported as discontinued operations for 2012.
  • Total revenue from continuing operations of $53.2 million for the fourth quarter of 2012, a 4% decrease compared to the fourth quarter of 2011. Hygiene revenue from company-owned operations for the fourth quarter of 2012, excluding acquisitions, decreased 7% compared to the fourth quarter of 2011.
  • Adjusted EBITDA loss of $5.3 million for the fourth quarter of 2012, based on a net loss from continuing operations before income taxes of $16.6 million, and compared to an Adjusted EBITDA loss of $6.5 million for the fourth quarter of 2011. 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 $0.20 for the fourth quarter of 2012, compared to basic and diluted loss per share from continuing operations of $0.05 in the fourth quarter of 2011.

"With today's release and the filing of our 10-K, we will have completed the restatement process and our 2012 public reporting obligations," said Thomas Byrne, President and Chief Executive Officer of Swisher Hygiene. "We again thank our shareholders for their patience and continued support over the past year."

"Our fourth quarter 2012 results were affected by the investigation and review process that was completed in February 2013, which impacted our top line growth and bottom line results," continued Mr. Byrne. "As a result of the overall process, we lost a couple of large accounts, from which we will continue to see effects in the first half of 2013. However, we are encouraged by the renewed interest we have seen in our corporate account and distributor programs during the first quarter of 2013, and we will continue to expand our field cross-selling programs while emphasizing customer service, retention and new customer acquisition. Additionally, we continue to simplify and standardize operations, which is enhancing our customer service and allowing us to further eliminate costs and improve cash flow."

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,825.45 +13.26 0.07%
S&P 500 2,089.88 +0.74 0.04%
NASDAQ 5,113.5190 +10.7110 0.21%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs