1) 75 people were laid off from the
corporate (Braintree) office on Friday (1/21), with a good
portion being in their national accounts program; with
more to come through the mid-atlantic, trickling it's
2) about 1mm shares change hands
last week, bought by Al McKim, Gene Cookson & 1
3) Steve Dovell, Pres. of the newly formed Harbors
Industrial Services, Inc. has resigned.
changes (espically the large block stock purchase &
layoffs) and an inside rumored tank on qIV's earnings,
what do you think will be happening next?
you say bonjour to the new owners?
Not all expenses on the income statement are
actually cash expenses. Depreciation and amortization are
Cash can be managed separately from the
reported net income (and doesn't necessarily need higher
revenue to have a positive change in the cash account).
Over the past 5 years, I think only 1998 showed a
reduction in the cash account. As long as CHI takes in more
cash than it spends, it will stay afloat.
I agree, cash flow is the key. Without a revenue
recovery, cash flow never gets better. This is really
frustrating. Why wouldn't McKim just retire, or something? I
don't think there is anyone left to acquire CLHB before
the Senior Notes come due. This doesn't seem very
And they were again up for the year. Not for the
quarter because SG&A balooned but those costs
(investments) should pay off next year.
Announces Fourth Quarter and 1999 Earnings
- February 03, 2000 18:08
Mass.--(BUSINESS WIRE)--Feb. 3, 2000--Clean Harbors, Inc.
(NASDAQ:CLHB) today announced its results for the fourth
quarter and year ended December 31, 1999.
Revenues for the fourth quarter were flat at $52,597,000
as compared to $52,588,000 for the fourth quarter of
1998. Net loss for the fourth quarter of 1999 was
$(424,000) or $(0.05) per basic and diluted share as
compared to a net profit of $84,000 or $0.00 per basic and
diluted share for the same quarter of the prior year.
Revenues for the year 1999 increased $5,526,000 to
$202,965,000 an increase of 2.8% from the $197,439,000
reported for the year ended 1998. The net loss for the
year ended 1999 was $(2,244,000) or $(0.25) per basic
and diluted share compared to a net loss of
$(3,854,000) or $(0.42) per basic and diluted share for the
year ended 1998.
Alan S. McKim, Chairman and
CEO said: "We are pleased with the progress we made
this past year in increasing top line revenue growth
by over $5.5 million and improving our bottom line
results from last year. The increase in SG&A reflects
strategic steps taken to introduce new service offerings
such as our Harbor Industrial Services division, Y2K
preparations and expansions into new market areas. We enter
Year 2000 with the start-up costs of these initiatives
behind us, and with major system enhancements in place
to allow us to leverage these investments in the
Mr. McKim also announced
expansions of the Company's E-Commerce initiatives by
stating: "We are also continuing to enhance our Internet
functionality in the areas of order fulfillment, waste
profiling and transportation scheduling. Additionally, we
are now moving forward to become an Application
Service Provider (ASP) with our environmental software
Is that industry practice, or is CLHB special?
Are these temporary workers in the event business, or
is it meat and bones of the organization? The former
makes sense, the latter does not.
How is CLHB
doing? Any outlook on how Q4 was? How was January?
Sorry, hit the wrong key.
Kimball are that earnings are up for
Q4!! What new
owners are you talking about?
There doesn't seem
to be any validation to the rumor that someone may
be buying CHESI.
Can you provide more info on
any possible buyout?
I am intrigued by your post, Tim Brews(ter?). But
why would top officers be buying stock at rising
prices if Q4 earnings are going to be in the tank? That
just doesn't make sense. Also, layoffs normally would
be bad for a company's stock, so, why buy at higher
prices rather than at the lower price that would follow
a layoff announcement?
Also, with Q4 over
but not yet reported, there probably is a blackout
period applicable during which insiders can neither buy
nor sell. So, your item #1 and #3 may be accurate,
but they are logically in conflict with #2. Still,
you get the gold star for the most interesting post
Sorry Egg, not who you think I am...
being a former employee (with no bad blood, so that's
not my spin) with a good friend from MA (who's a
recent emigree from CHESI) who's got a line at
corporate, I think most of my info is QUITE
So, that being said...be on the lookout for the
possibility of more layoffs in the coming week. Historically,
their layoffs have not really made sense (not just all
upper/middle mgmnt or sales/marketing), usually a broad swatch
of employees (but NEVER the field guys, they're the
Also, no OT is allowed at the