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.