Clean Harbors Delays Financial Reports, Estimates Year and Quarter Results

Lynn Schenkman

Braintree, Mass. – Clean Harbors Inc. has delayed announcing fourth quarter and year-end financial results because of a what the company is calling a "complex acquisition." In September 2002, Clean Harbor acquired the chemical services division of Safety-Kleen, Plano, Texas. Clean Harbors will release final results for the fourth quarter and full-year 2002 when it files its form 10-K with the Securities and Exchange Commission, which is due March 31.

The company expects to report fourth-quarter revenues of $152.5 million to $153.5 million, compared with $75.8 million in the same quarter of 2001. Net income for the fourth quarter of 2002 is expected to be $3 million to $4 million, or 17 cents to 23 cents per diluted share, compared with a net income of $3.8 million or 27 cents per diluted share for the same quarter of the prior year.