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Swisher Expects To Record Material Non-Cash Goodwill Impairment Charge In Fourth Quarter 2013

CHARLOTTE, N.C., Feb. 25, 2014 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitizing solutions, announced today that it expects to timely file its 2013 Form 10-K and release fourth quarter and full year 2013 results by March 17, 2014. As part of filing its Form 10-K, Swisher is performing its goodwill impairment analysis and expects to record a material, non-cash goodwill impairment charge in the fourth quarter of 2013. Swisher is in the process of quantifying and finalizing the expected impairment, but it is anticipated to include all or a substantial amount of the goodwill on Swisher's consolidated balance sheet, which totaled $101.5 million as of September 30, 2013. The expected impairment will neither affect Swisher's liquidity or cash flows, nor impact Swisher's future operations.

As noted in a press release last week, Swisher will be presenting at the Robert W. Baird 2014 Business Solutions Conference today at 3:00 PM Eastern Time where it will provide an update on current operating trends. Investors and interested parties may listen to the webcast of the presentation by visiting Swisher's website at www.swsh.com under the "Investors" section at the appropriate time.

Cautionary Statement on Forward-Looking Information

All statements other than statements of historical fact contained in this press release constitute "forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this press release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.

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