Clean Harbors Announces 2000 First Quarter Results.Business/Technology Editors BRAINTREE, Mass.--(BUSINESS WIRE)--April 20, 2000 Clean Harbors, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLHB CLHB Cardiff Local Health Board (UK) ) today announced its results for the first quarter ended March 31, 2000. Revenues for the first quarter were $52,737,000, an 18.1% increase over the $44,648,000 reported for the comparable period last year. Earnings Before Interest, Taxes, Depreciation and Amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
The first quarter income from operations increased to $938,000 from the $(523,000) operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. reported for the first quarter of 1999, an improvement of $1,461,000. The first quarter net loss for 2000 was $(1,440,000) or $(0.14) per basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share as compared to a net loss of $(2,842,000) or $(0.28) per share compared to the same quarter in 1999. Alan S. McKim, Chairman and Chief Executive Officer said: "We are very pleased with the progress made in the first quarter of 2000. Increasing revenues by over $8 million or 18% over last year's first quarter, as well as cutting the loss in half was a tremendous accomplishment in a quarter that traditionally is the weakest quarter of the year. We see continuing positive results from numerous initiatives to increase top line revenues and improve margins. I believe that Clean Harbors is well positioned to return to profitability in 2000." Clean Harbors Inc. is a national environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, corporation providing a wide range of industrial waste management services and environmental clean-up services to a diversified customer base including a majority of the Fortune 500 companies, numerous Federal and State government agencies and thousands of smaller entities. The Company currently has a network of sales and regional logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation offices located in 27 states and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. as well as 12 waste management facilities strategically located throughout the country.
CLEAN HARBORS, INC
CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited
(in thousands, except per share data)
Three Months Ended
March 31,
2000 1999
Revenues $ 52,737 $ 44,648
Cost of revenues 39,109 33,869
Selling, general and administrative
expenses 10,185 8,936
Depreciation and amortization 2,505 2,366
Income (loss) from operations 938 (523)
Interest expense, net 2,288 2,229
Loss before provision for
income taxes (1,350) (2,752)
Provision for income taxes 90 90
Net loss $ (1,440) $ (2,842)
Basic and diluted loss per share $ (0.14) $ (0.28)
Weighted average common
shares outstanding plus
potentially dilutive common
shares 10,935 10,514
Financial data:
Earnings before interest,
income taxes, depreciation
and amortization (EBITDA) $ 3,443 $ 1,843
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