UPDATE 1-Heckmann sees strong revenue; shares jump

Thu May 3, 2012 6:35pm EDT

May 3 (Reuters) - Wastewater management company Heckmann Corp forecast strong revenue for the full year, helped by its acquisition of Thermo Fluids, sending its shares up 10 percent in extended trading.

Heckmann expects revenue of $400 million to $420 million for the year.

Analysts, on average, were expecting $370.7, according to Thomson Reuters I/B/E/S.

In March, Heckmann said it will buy oil recycling company Thermo Fluids Inc from Chicago-based private equity firm CIVC Partners for $245 million in cash and stock.

For the first quarter, Heckmann posted net loss of $3.9 million, or 3 cents per share.

Excluding items, the company posted a loss of 1 cent a share.

Revenue for the quarter jumped three-fold to about $55 million.

Analysts expected the company to break even on a per-share basis on revenue of $54.3 million.

Shares of the company closed at $3.60 on Thursday on the New York Stock Exchange.

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