Boise-based waste company U.S. Ecology had a record year in 2012, according to its earnings report Thursday.
Its revenue for the year was about $169 million, up 9 percent from 2011, and its net income was $25.7 million, up 40 percent from 2011. The new highs reflect the company's overall growth in the waste cleanup business, with plants now in Idaho, Michigan, Nevada, Texas and Quebec. Its acquisition in May of a Michigan company also helped, with the Michigan plant about $6.7 million in revenue for the seven months it was part of U.S. Ecology.
The company's fourth quarter net income of $6.1 million was about $600,000 lower than the previous fourth quarter, which ends Dec. 31. Total revenue of $50.4 million was up 21 percent from the same quarter in 2011, with a high rate of growth coming from the waste-transportation side. But the company's overhead was higher, with sales, general and administrative expenses totaling $7.5 million for the quarter, compared with $5.6 million the previous fourth quarter. That increase was partly because of payroll costs and severance expenses related to a management reorganization last fall.