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Stericycle Pedals Higher

Shares rise 8%.

Medical waste management service provider

Stericycle

(SRCL) - Get Stericycle, Inc. Report

rose 8% Thursday after posting a third-quarter earnings gain.

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The Lake Forest, Ill.-based company earned $27.5 million, or 61 cents a share, in the quarter, compared with $23.4 million, or 52 cents a share, a year ago. Third-quarter result includes stock based compensation expense of 4 cents a share. Analysts polled by Thomson First Call were expecting earnings of 59 cents a share.

Third-quarter revenue rose 32.7% from a year ago to $203.3 million, topping the consensus estimate of $200.4 million.

Gross profit for the quarter rose 33.9% from a year ago to $90.5 million and gross profit margin increased 40 basis points to 44.5%. Operating income for the rose 26.4% to $53 million. However, operating margin declined 130 basis points to 26.1%.

Shares rose $5.44 to $71.44.

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