May 3 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
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
Revenue for the quarter jumped three-fold to about $55
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.