WASHINGTON (dpa-AFX) - Clean Harbors Inc. (CLH) reported fourth-quarter net income of $61.9 million, or $1.11 per share compared to $38.2 million or $0.72 per share, last year. The results included a $52.4 million benefit from the release of unrecognized tax benefits due to expired statute of limitation periods, partially offset by approximately $7.5 million in costs related to the Safety-Kleen acquisition.
Revenues increased to $559.0 million from $545.9 million last year. Income from operations decreased to $36.2 million from $59.2 million prior year, primarily based on costs associated with the Safety-Kleen acquisition and an increase in depreciation and amortization expense.
Adjusted EBITDA, which includes the costs related to Safety-Kleen, was $83.6 million compared to $97.4 million prior year.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit of $0.40 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $536.78 million for the quarter.
Clean Harbors confirmed its previously announced 2013 revenue and adjusted EBITDA guidance. The company continues to expect 2013 revenues in the range of $3.72 billion to $3.77 billion. For 2013, the company expects adjusted EBITDA in the range of $605 million to $620 million. Analysts expect the company to report 2013 revenue of $3.71 billion.
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