SK 138% increase in EPS,(could show more gains tomorrow) BBBY beats the street, TECD beats the street. These were already up on anticipation.
Safety-Kleen Corp. Announces Second Quarter Operating Results; 138% Increase In Earnings Per Share
COLUMBIA, S.C., March 30 /PRNewswire/ -- Safety-Kleen Corp. (NYSE: SK - news) today announced operating results for the second quarter ended February 28, 1999.
Revenue for the second quarter totaled $402.1 million, up 132% from $173.2 million in the second quarter one year ago. Operating income for the second quarter increased 275% to $73.9 million for an operating margin of 18.4%. This compares with operating income of $19.7 million and a margin of 11.4% in the same quarter of fiscal 1998.
Earnings before interest, taxes, depreciation and amortization (''EBITDA'') for the quarter totaled $107.5 million for an EBITDA margin of 26.7%, up from $30.6 million in the second quarter one year ago and in line with management's expectation to achieve EBITDA in excess of $500 million in the current fiscal year.
Net income for the second quarter of fiscal 1999 was $18.2 million, up 413% compared with the same quarter in the prior year. On a diluted basis, net income was $0.19 per share for the quarter, an increase of 138% over $0.08 per share reported in the prior year. Average shares outstanding for the second quarters of fiscal 1999 and 1998 on a diluted basis were 111.8 million and 45.7 million, respectively, reflecting the 1-for-4 reverse stock split implemented December 1, 1998.
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