LAKE FOREST (dpa-AFX) - Stericycle, Inc. (SRCL) reported third-quarter results that missed analysts' projections both in terms of profit and revenue. Net income was down year-over-year as the company reported higher expenses during the quarter. Gross profit was up 7.5% from last year.
GAAP earnings per share decreased 51.6% to $0.47 from $0.96. Non-GAAP earnings per share, when adjusted for various items, remained at $1.08. Analysts polled by Thomson Reuters expected the company to report profit per share of $1.19 for the quarter. Analysts' estimates typically exclude special items.
Revenues were $718.6 million, up 7.6%, from $667.9 million in the third quarter last year. Acquisitions contributed approximately $33.3 million in revenues to the current period's growth. Revenues increased 12.5% compared to the prior period when adjusted for unfavorable foreign exchange impact. Analysts expected revenue of $735.47 million for the quarter.
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