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Swisher Hygiene Announces Results For The Three Months Ended March 31, 2013

Stocks in this article: SWI SWSH

Adjusted EBITDA loss for the three months ended March 31, 2013 was $6.3 million, compared to an Adjusted EBITDA loss of $4.3 million in the three months ended March 31, 2012.

Cash and Capital Resources

As of March 31, 2013, Swisher Hygiene had $50.6 million of cash on its balance sheet and $11.9 million in outstanding debt. During the first quarter of 2013, Swisher Hygiene repaid $2.5 million of outstanding debt.

Conference Call

Swisher Hygiene will host a conference call to discuss first quarter 2013 results today at 9:00 a.m. Eastern Time.

The conference call can be accessed over the phone by dialing 1-855-541-0980 or for international callers by dialing 1-970-315-0440; please dial-in 10 minutes before the start of the call. A replay will be available two hours after the call and can be accessed by dialing 1-855-859-2056 or for international callers by dialing 1-404-537-3406; the conference ID is 77300676. The replay will be available until Tuesday, June 4, 2013.

In order to access the live webcast, please go to the Investors section of Swisher Hygiene's website at http://www.swisherhygiene.com and click on the webcast link that will be made available. A replay will be available shortly after the original webcast.

Non-GAAP Financial Measures

This press release and the attached financial tables contain certain non-GAAP financial measures. In addition to net income determined in accordance with GAAP, we use certain non-GAAP measures such as "Adjusted EBITDA" in assessing Swisher Hygiene's operating performance. Swisher Hygiene believes this non-GAAP measure serves as an appropriate measure to be used in evaluating the performance of its business.

Swisher Hygiene defines Adjusted EBITDA as net loss excluding the impact of income taxes, depreciation and amortization expense, investigation and review related expenses, net interest expense, foreign currency gain and other income, net change on debt related fair value measurements, stock based compensation, severance, and third party costs directly related to merger and acquisitions.

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