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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Heritage-Crystal Clean, Inc. Announces 2014 First Quarter Financial Results

Stocks in this article: HCCI

ELGIN, Ill., April 30, 2014 (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 first quarter of fiscal 2014, which ended March 22, 2014.

First quarter highlights include:

  • Revenues increased 9.9%, to $66.0 million, compared to $60.0 million in the first quarter of fiscal 2013. This increase was due to organic growth and acquisitions in the Environmental Services segment and increased output due to the expansion of our re-refining capacity in the Oil Business segment.
  • Our Environmental Services segment includes parts cleaning, containerized waste, and vacuum services. During the first quarter, Environmental Services revenues increased $4.1 million, or 11.8% compared to the first quarter of fiscal 2013. First quarter revenue growth in the segment was generated by organic growth and acquisitions. 
  • Same-branch revenues for our Environmental Services segment increased 6.2% for the quarter, measured for the 73 branches that were in operation throughout both the first quarters of fiscal 2014 and 2013. 
  • Average revenues per working day in the first quarter of fiscal 2014 in our Environmental Services segment were approximately $655,000, compared to $580,000 in the first quarter of fiscal 2013 and compared to $650,000 in the fourth quarter of fiscal 2013. 
  • Our Oil Business segment includes used oil collection and re-refining activities. During the first quarter of fiscal 2014, Oil Business revenues increased $1.8 million, to $27.1 million from $25.2 million in the first quarter of fiscal 2013 from increased volume at our used oil re-refinery.
  • Net loss attributable to common stockholders for the first quarter was $1.7 million compared to $0.4 million for the year earlier quarter. Loss per share was $0.09 in the first quarter of fiscal 2014 compared to $0.02 in the first quarter of fiscal 2013. 

The Company's Founder, President, and Chief Executive Officer, Joe Chalhoub, commented, "The first quarter of 2014 was challenging for our Company. In our Oil Business segment, extreme winter weather impeded our ability to collect used oil and operate our re-refinery in an efficient manner. We ran our re-refinery at 85% of its current 60 million gallon annual nameplate capacity during the first quarter."

1 of 3

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!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

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