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January 16, 2013
08:02 EDTSWSHSwisher Hygiene provides operations update
Swisher Hygiene announced that it was providing certain preliminary financial figures ahead of its plans to file its restated financials for 2011 and the filing of its financials for 2012. As of November 30, 2012, which includes the divestiture of its waste division, Swisher Hygiene had run-rate revenue, defined as annualized Q3 revenue, of $225M. Approximately 65% of its run-rate revenue is currently generated from its core chemical operation. In addition, as of December 31, 2012, Swisher Hygiene had approximately $70M in cash and cash equivalents, as well as $12.5M currently being held back from the sale of Choice Environmental Services pending the delivery of audited financial statements, and total debt outstanding of approximately $13M.
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