Stericycle 4Q revenues up 2 percent

LAKE FOREST - Stericycle Inc. reported revenues for the fourth quarter of 2016 were up 2 percent, which were boosted by recent acquisitions.

The company reported revenues of $ 906.4 million, up $18.1 million from $888.3 million in the fourth quarter of last year. Acquisitions contributed approximately $5 million to the period's growth in revenues. Organic revenues grew 4.4 percent.

Gross profit was $373.7 million, down 1.8 percent from $380.4 million in the fourth quarter of last year. Gross profit as a percentage of revenues was 42.0% compared to 42.9% in the fourth quarter of last year.

"Shred-it synergies remain on track. We completed the integration of the inside sales and customer service teams and established standardized best practices for our operational teams. Additionally our cross selling efforts produced several sizable wins among our national and hospital accounts," said Brent Arnold, Chief Operating Officer.

Revenues for 2016 were $3.56 billion, up $576.4 million or 19.3 percent from $2.99 billion in the same period last year. Acquisitions contributed approximately $570.1 million to the current year's growth in revenues. Organic revenues grew 3.2 percent.

Gross profit was $1.5 billion, up $237 million or 18.7 percent from $1.27 billion in the same period last year. Gross profit as a percentage of revenues was 42.2 percent compared to 42.4 percent in the same period last year.

"We were very pleased with our fourth quarter operational performance. Additionally, our recall team delivered a record-breaking quarter which enhanced our results," said Charlie Alutto, President and Chief Executive Officer.