Stericycle Inc. (SRCL) announced that its third-quarter net income was $46.5 million or $0.54 per share, compared to net income of $39.2 million or $0.45 per share for the third quarter of 2008.
Net income for the third quarter of 2008 included the effect of $0.1 million of charges related to an arbitration settlement, and net income for the third quarter of 2009 included the effect of $3.3 million of transactional expenses related to acquisitions offset by $1.8 million net release of prior years' tax reserves.
Adjusted for these charges, earnings per share increased to $0.55 per share, from $0.45 in the year ago quarter.
Revenues for the quarter were $297.8 million, up 7.5% from $277.1 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share on revenues of $300.58 million for the quarter. Analysts' estimates typically exclude special items.
For comments and feedback: editorial@rttnews.com