Swisher Hygiene 1Q loss widens on expenses
Swisher Hygiene 1Q loss widens as total costs and expenses more than double
CHARLOTTE, N.C. (AP) -- Swisher Hygiene's first-quarter loss widened as its expenses climbed.
The hygiene and sanitation products and services company had delayed filing some of its financial results as it looked into possible accounting adjustments that may have been needed.
President and CEO Thomas Byrne said in a statement on Monday that the Charlotte, N.C., company plans to complete the filings of its second-quarter and third-quarter 2012 financial results as soon as possible.
For the three months ended March 31, 2012, Swisher Hygiene Inc.'s loss from continuing operations was $13.3 million, or 8 cents per share. In the prior-year period it lost $6 million, or 5 cents per share.
Route expenses more than doubled to $10.6 million, while selling, general and administrative expenses more than doubled to $30 million. Total costs and expenses more than doubled to $70.9 million from $30.3 million.
Revenue more than doubled to $58.2 million from $21.5 million, buoyed by some acquisitions.
Swisher bought Daley International, Cavalier and Kitter in 2011's third quarter.
