Medical Waste Firm Stericycle Posts Strong Second Quarter Results

Medical waste firm Stericycle Inc. posted higher net income and revenue for its second quarter, aided by acquisitions.

The Lake Forest, Ill.-based company said for the period ended June 30 net income rose 14.7 percent to $78.4 million, or 89 cents per diluted share, compared with $68.4 million, or 78 cents per share, in the 2012 period, according to a news release.

Revenues climbed 12.3 percent to $526.5 million compared with $468.9 million a year earlier. Acquisitions accounted for about $34.1 million of the revenue in the latest period.

For the first half, net income rose 14.9 percent to $153.7 million, or $1.74 per diluted share, compared with $133.7 million, or $1.53 per diluted share, in the year-ago period.

Revenue advanced 12 percent for the first six months to $1.04 billion compared with $929 million in 2012.