fourth-quarter earnings fell sharply from a year ago, hurt by litigation settlement expenses.
The company earned $71,000, or nothing a share, in the quarter, compared with $19.06 million, or 42 cents a share, a year ago. Adjusted for litigation expenses and other items, Stericycle earned 56 cents a share in the latest quarter, in line with analysts' estimates.
Revenue increased 19.9% from last year to $166.56 million, higher than the consensus estimate of $157.3 million.
In the fourth quarter the company took a pretax charge of $36.5 million to cover a settlement of the 3CI class-action litigation.
Gross profit increased by 22.61% to $74.24 million in the fourth quarter while gross profit margin rose 98 basis points to 44.57%.
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