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UMMM, nice financials! OH, and nice critique--------------
Charlotte Business Journal
Date: Tuesday, August 16, 2011, 10:39am EDT
Swisher Hygiene Inc. reports a second-quarter net loss of $7.1 million, or 4 cents per diluted share, down from a net loss of $1.8 million, or 3 cents per share, in the prior-year period.
Revenue for the Charlotte-based company (Nasdaq:SWSH) rose to $51.7 million from $15.2 million for 2010’s second quarter.
The company is expanding rapidly by buying companies that supply cleaning services or related chemicals. Since March 31, Swisher has completed 27 acquisitions, including 23 chemical, linen and waste companies and four franchises.
Excluding the impact of the acquisitions, organic revenue for the quarter increased 22% from the same period in 2010.
That figure is “evidence that our cross-selling and new-account initiatives are beginning to pay dividends,” says Steven Berrard, chief executive.
Adjusted earnings before interest, taxes, depreciation and amortization for the quarter rose to $3 million from negative $331,256 in the second quarter of 2010. That improvement is “further evidence that we are moving in the right direction toward profitability,” Berrard adds. “We have consistently grown our adjusted EBITDA margins to 5.8% in the second quarter of 2011 from negative 17.1% in the fourth quarter of 2010.”
Swisher is raising its revenue outlook for 2011 by $20 million to $220 million
Charlotte Business Journal
Date: Tuesday, August 16, 2011, 10:39am EDT
Swisher Hygiene Inc. reports a second-quarter net loss of $7.1 million, or 4 cents per diluted share, down from a net loss of $1.8 million, or 3 cents per share, in the prior-year period.
Revenue for the Charlotte-based company (Nasdaq:SWSH) rose to $51.7 million from $15.2 million for 2010’s second quarter.
The company is expanding rapidly by buying companies that supply cleaning services or related chemicals. Since March 31, Swisher has completed 27 acquisitions, including 23 chemical, linen and waste companies and four franchises.
Excluding the impact of the acquisitions, organic revenue for the quarter increased 22% from the same period in 2010.
That figure is “evidence that our cross-selling and new-account initiatives are beginning to pay dividends,” says Steven Berrard, chief executive.
Adjusted earnings before interest, taxes, depreciation and amortization for the quarter rose to $3 million from negative $331,256 in the second quarter of 2010. That improvement is “further evidence that we are moving in the right direction toward profitability,” Berrard adds. “We have consistently grown our adjusted EBITDA margins to 5.8% in the second quarter of 2011 from negative 17.1% in the fourth quarter of 2010.”
Swisher is raising its revenue outlook for 2011 by $20 million to $220 million
Swisher’s net loss rises as revenue swells
.
More trades after those total-- 1,563,705.
Look at the last trade made after the market closed. OMG!
4,895,202 shares.
Jun 24, 2011
US Market Closed
NASDAQ 2652.89 -33.86 -1.26% | DJIA 11934.58 -115.42 -0.96% | S&P 1268.45 -15.05 -1.17%
Home > Quotes > NLS Trade Reporting > SWSH
16:00:10
$ 5.62
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5,241
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Read more: http://www.nasdaq.com/aspx/nlstrades.aspx?symbol=SWSH&selected=SWSH#ixzz1QE5gK9mG
4tg, looking good!
.Financial Post FP Street Financial Services News
FP Deal Flow .
FP Street Follow the Money
Swisher sets record straight
Comments Twitter LinkedIn Email .Barry Critchley May 13, 2011 – 7:00 AM ET | Last Updated: May 12, 2011 6:18 PM ET
Steve Berrard is chief executive of Swisher Hygiene, the entity reborn last August when it merged with Cool Brands International, a Canadian shell with lots of cash. He is ready to set the record straight about Swisher, its strategy, its balance sheet, its integration plans — and short sellers. Here are the highlights:
Strategy
Swisher will continue to make acquisitions. Berrard insisted it’s not embarking on a “roll-up strategy,” which he defines as “buying a business in a market as a standalone and then try to gobble up synergies and efficiencies.” Now when it makes acquisitions, “those businesses are being integrated into already existing businesses. [With an acquisition] we are taking the customers and the employees…. So there are immediate economic synergies. The value of acquiring these customers is buying market share.”
Strengths
Swisher has an attractive scalable business model with an established brand identity, operates in industries that are widely followed and has access and availability to capital with an experienced management team. “We are a sole-source, low-cost provider of essential hygiene and sanitation solutions, products and services. We are not a restroom cleaning company,” said Berrard, noting such activities generate just 20% of its current revenue. (For 2010, revenue was US$64-million; for 2011, it’s expected to be US$200-million.) Sales of chemicals, linens and facilities services (mats, bath towels and waste collection) make up the rest. And that revenue is “primarily re-occurring.” Berrard says through acquisitions Swisher has “created a significant point of differentiation between ourselves and the people we are competing with.” He says revenue in the four sectors it has identified is US$93-billion with no dominant provider.
Capital raising
Berrard said the old Swisher couldn’t have raised any capital had it kept its old strategy. Thanks to three private placements that help fund acquisitions, it has US$160-million of cash and access to a US$100-million credit facility. “The story would not have as much meaning if we didn’t have a capital structure in place today that will allow us to make acquisitions and grow our business. If the stock is $11, or $5 or $3 that’s not going to change our plan. We will continue to buy businesses and add additional customers and put additional products into existing customers.”
Investors
Berrard said buyers are attracted “not because of 2010 results. They are looking at the second half of 2011 and beyond,” because “they believe we have built a base that we can grow significantly. They are investing because the historicals give them an indication that we have an ability to grow this business rather dramatically and profitably as we have done in our past lives. We [Berrard and partner Wayne Huizenga] have a long- standing track record.”
Detractors
Berrard defines this group as “those who are looking backwards. Those are not investors but [people] who have an axe to grind, or [want] to turn over the apple cart relative to the progress we are making. They are short sellers.”
As for dealing with the short sellers, “we intend to perform. We will do a good job of putting out results like we have. This is not our experience with short sellers.”
Stock price moves
Berrard said the changes — it started the year at $4.79 rose to $10.10 (on April 18) and closed Thursday at $5.44 — means “people made a lot of money along the way and some took profits, a smart thing to do. Nothing has happened fundamentally in the company to cause that decline.”
.Posted in: FP Street Tags: Cool Brands International, Steve Berrard, Swisher .
4tg, well said.
Realitic SOB, I don't know if there will be a profit, but I've usually found conference calls to be positive. We'll find out!
Givd, based on customer relations. I was told it's listed on the filings.
Givd, based on customer relations. I was told it's listed on the filings.
It's Fidelity----
Swisher Hygiene Inc. has agreed to sell more than 9.8 million shares of its common stock for $75.9 million to certain funds of a global financial institution. Swisher didn’t disclose the institution’s name.
The company intends to use the proceeds from the private placement to fund acquisitions, as well as for working-capital purposes.
Read more: Swisher Hygiene to sell 9.8M shares | Charlotte Business Journal
JimmyRich, it should be illegal. I'm hoping they will be holding their shorts until after the meeting on 5/5.
Frank39, you're welcome.
Frank39, it is a FACT that they shorted 78,000 shares well before the article was written. Go to page 5 and it's disclosed. (most people don't read all 5 pages.)-----------------------
Important Disclosure: Prior to the publication of this article, TheStreetSweeper (through its members) has effected a “short sale” of 67,000 shares of the stock of SWSH beginning on April 11, 2011, at an average price of $8.9175 a share, with the intent of profiting from decreases in the price of the stock. TheStreetSweeper may choose to adjust the size of this investment – increasing, decreasing or covering its short position in the stock – and will fully disclose the details of those trades if and when they occur.
As a matter of policy, Melissa Davis – the editor of this website and the author of this story – will never take a financial position (short or long) in any of the stocks that she covers. To contact Ms. Davis, please send an email to editor@thestreetsweeper.org.
Frank39, these guys from the article SHORTED 79,000 shares BEFORE the article was released. Hmmmmmmmm!
Jamie3, is the quiet period for Swsh over May 5?
Thanks in advance.
Phowell23, they seem like they're doing very well. How did you come across this company?
This stock looks very interesting. I'm thinking of buying some before the earning's call.
Janice, LOL, look what I found. The DoM-
LAS VEGAS, May 16 /PRNewswire/ -- Countryland Wellness Resorts, Inc.
(CWRI) sold its mining interests in Plumas County, California to a foreign
ecclesiastical sovereignty in exchange for Treasury Bills ("T-Bills") having a
face value of $2,418,000,000.00, issued by the Dominion of Melchizedek
("DOM"). The T-Bills, payable without interest, mature on May 27, 2005. The
Company has booked the T-Bills at face value. As additional consideration,
DOM has credited to the account of the Company 300,000,000.00 Dominion Dollars
(the official currency of DOM), from which the Company has acquired a 5-year
Certificate of Deposit issued by the DOM state owned and licensed bank, Bank
of Salem. Bank of Salem is not licensed within the United States of America,
nor is it associated with any U.S.A. bank.
DOM as an ecclesiastical sovereignty has suffered significant adverse
publicity because journalists and others have falsely labeled DOM as a
"country" when in fact DOM has always classified itself as an "ecclesiastical
sovereignty." The major negative publicity is available at the DOM news
section link to its web site at http://www.melchizedek.com.
The ability of DOM to pay the T-Bills at maturity is subject to a number
of conditions, such as its acquisition of sufficient foreign capital or the
Plumas mines producing enough revenues to pay off the T-Bills at maturity.
The Company has agreed to put the mines into production on behalf of DOM, and
will be permitted to retain as much as 60% of net revenues from production to
pay down the principal amount of the T-Bills before maturity.
DOM received title to the mining properties through a corporation
incorporated under the laws of DOM. "The International Monetary Reserve"
("TIMR"), which is qualified to do business in California and Florida, and
which is separately incorporated under the laws of the State of Nevada. DOM
is the controlling shareholder of TIMR, which is not related to the similarly
named "International Monetary Fund," ("IMF"). TIMR shares are quoted on the
offshore Internet stock exchange "Dominion Worldwide Stock Exchange" that is
regulated and managed by DOM outside the United States. It may be necessary
for DOM to sell its shares in TIMR to pay off the T-Bills, however it is
unknown if a sufficient market will develop for those shares. In the
alternative, the Company has an option, at any time prior to maturity, to
elect to receive full payment for the T-Bills in the form of Dominion Dollars.
The Company may elect to exercise this option should a strong market emerge
for Dominion Dollars.
According to DOM there are less than $100,000,000 of its T-Bills issued to
its citizens and third parties prior to those issued to the Company. DOM has
indicated that its reason for acquiring the Plumas mining properties is based
on its plan to float an Internet and printed currency, Dominion Dollars, in
the world market. With the proven reserves at the Plumas property, DOM's
currency can be backed by gold.
The Company's top officers are citizens and ambassadors-at-large of this
ecclesiastical sovereignty, but DOM owns none of the securities issued by the
Company.
Further details can be obtained by referring to those documents provided
in the Company's Form 10Q and Form 8K filings with the Securities and Exchange
Commission.
Investors are cautioned that this transaction involves risks and
uncertainties. Investors who seek more information about the company's
business and relevant risk factors may wish to review the company's periodic
reports filed with the Securities and Exchange Commission including, but not
limited to, its most recent Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q. This is not a solicitation to invest and certain material facts
may be omitted or not fully disclosed. The company urges caution in trading
its securities until it provides further details.
SOURCE Countryland Wellness Resorts, Inc.
I can't, there are none...... yet.
Sure looks same operation- AVPD -- Avalon Partners Holdings, Inc.
Com ($1)
Search for Dun & Bradstreet reports on this company.
Address:
76 Dean St.
P.O. Box 1117
Belize City, Belize
Phone: 011-501-22-77063
Business Description: Not Available
State of Incorporation: WY
Officers:
Ronald Allen, CEO; Lionel Welch, Sec't.
Outstanding Shares: Not Available
Estimated Market Cap: Not Available
Current Capital Change:
shs increased by 80 for 1 split. Payable upon surrender
Ex-Date: 2006-02-07
Record Date:
Pay Date:
Dividends:
Company Notes:
Formerly=IBA Ltd. until 2-06. Jurisdiction of Incorporation Belize changed to Wyoming concurrent with name change
Class Notes:
Issued=5-02 pursuant to spin off by Adatom.com. Basis: 1/100 sh IBA Ltd. for every sh Adatom.com Com held
Transfer Agent:
ke the same operation-
Jim Bishop, a name change & corporate address change, doesn't necessarily change the business operation, IMO.
LOL. Not yet, but when there's big money to be made, the money trail will be interesting to follow.
Could very well be. LOL.
Nevada Stock exchange- (Nvds) and Belize Stock Exchange- (Avpd) seeem to be working together.
LOL, Famulus. Is this the new format for the Nevada Stock Exchange, aka, Nvds?
Correct, it used to trade under the symbol- Ibbff, & now it trades under the symbol- Avpd.
Avpd is the trading symbol.
Famulus- great article. By the way, the Belize-stock market is still in existence. It's symbol is Avpd.
Janice shell, are business transactions still being conducted, today, from the DOM?