Stericycle Net Falls Sharply

The latest quarter has a charge for a lawsuit settlement.
Author:
Publish date:

Stericycle's

(SRCL) - Get Report

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%.

This story was created through a joint venture between TheStreet.com and IRIS.