Medical Waste Firm Stericycle Posts Higher Profits for Quarter, Year

Medical waste firm Stericycle Inc. reported stronger net profits for its fourth quarter and 2011 year.

For the quarter ended Dec. 31, the Lake Forest, Ill.-based Stericycle posted a 28.6-percent increase in net earnings to $64.3 million, or 74 cents per diluted share, compared with  $50 million, or 57 cents per diluted share, in the 2010 fourth quarter, the company said in a news release.

Revenue for the fourth quarter rose 13.5 percent to $446.6 million from $393.5 million a year earlier.

For the year net income climbed 12.9 percent to $234.8 million, or $2.69 per diluted share, compared with $207.9 million, or $2.39 per diluted share, in 2010.

Revenue for 2011 jumped 16.4 percent to $1.68 billion, compared with $1.44 billion a year ago.

Acquisitions in 2011 added $48.9 million to revenue for the fourth quarter and $158.2 million for the year.