Medical Waste Firm Stericycle Posts Higher 3rd Quarter Results

Medical waste giant Stericycle Inc. posted higher income and revenue for its third quarter.

Net income for the period ended Sept. 30 rose 4.4 percent to $59.2 million, or 68 cents per diluted share, compared with $56.7 million, 65 cents per diluted share, for the third quarter of 2010. The 2011 figure includes acquisition expenses, restructuring costs and other items. Excluding those, the company said in a news release that its earnings per diluted share was 71 cents for the quarter.

Revenues for the quarter climbed 16 percent to $420.9 million compared with $363 million from the same quarter last year. The company said $43.9 million of the latest revenue figure came from acquisitions less than 12 months old.

For the nine-month period gross profit increased 15.3 percent to $559.2 million compared with $485 million a year ago. Revenue advanced 17.6 percent to $1.23 billion compared with $1.05 billion in 2010.