Waste Age

Stericycle Posts Higher Net Income in Quarter, Year

Stericycle Inc. posted higher net income for its fourth quarter and year.

The Lake Forest, Ill.-based Stericycle said in a news release that net income attributable to the company for the period ended Dec. 31 rose 9 percent to $70.1 million, or 80 cents per diluted share, compared with $64.3 million, or 74 cents per diluted share. Revenue climbed 12.8 percent to $503.6 million, compared with $446.6 million in the fourth quarter last year.

For the year net earnings advanced 14.1 percent to $268 million, or $3.08 per diluted share, compared with $234.8 million, or $2.69 per diluted share, in 2011. Revenue jumped 14.1 percent to $1.91 billion compared with $1.68 billion a year earlier.

 

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MedicalWasteResearch
on Feb 11, 2013

Stericycle's earnings in their highly profitable Steri-Safe program may be hurt in the future with the introduction of the Compliance Publishing Corporation (private held) OSHA compliance program in May, 2012. This program is the first serious threat to the Steri-Safe program since MedServ (purchased by Stericycle in 2009), and has been adopted by many of Stericycle's strongest competitors. This program could remove as much as $40 million in annual revenue by 2014 with downward pricing pressure.

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