RTTNews | Aug 6, 2021 07:33AM EDT

07:33 Friday, August 6, 2021 (RTTNews.com) - Medical waste management company Stericycle, Inc. (SRCL) on Friday reported net income of $29.3 million, or $0.32 per share in the second quarter compared with net loss of $4.5 million, or $0.05 per share, in the same quarter a year ago.

Excluding items, earnings of $0.67 per share missed the average estimate of 10 analysts polled by Thomson Reuters at $0.69 per share.

Revenues for the quarter increased 12% to $672.7 million from $598.2 million in the year-earlier quarter. The company cited revenue growth was primarily due to more significant impacts from Covid-19 in last year's second quarter. The consensus estimate was for $669.43 million.

"We are encouraged to see demand for our services grow, along with the ongoing economic recovery from the impact of the pandemic, as reflected in our 14.4% organic revenue growth in the second quarter compared to 2020," said Cindy J. Miller, Chief Executive Officer. "Additionally, our team members are fully engaged in the launch of our North American ERP, the next step of our transformation."

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