UPDATE 1-Heckmann sees strong revenue; shares jump
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.
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Billy Joel, Shirley MacLaine feted at Kennedy Center Honors
- Singapore hit by rare outbreak of rioting, 27 arrested |