Heritage-Crystal Clean (HCCI) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $3.44 million, or $ 0.15 a share in the quarter, against a net loss of $2.49 million, or $0.11 a share in the last year period. On an adjusted basis, the company has earned $4.48 million, or $0.20 a share for the quarter. 

Revenue during the quarter grew 6.37 percent to $106.75 million from $100.36 million in the previous year period. Operating margin for the quarter period stood at positive 5.44 percent as compared to a negative 3.44 percent for the previous year period.

Operating income for the quarter was $5.81 million, compared with an operating loss of $3.45 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $14.15 million compared with $8.26 million in the prior year period. At the same time, adjusted EBITDA margin improved 503 basis points in the quarter to 13.26 percent from 8.23 percent in the last year period.  

Net income attributable to common shareholders for fiscal 2016 was $5.8 million compared to net income attributable to common shareholders of $1.3 million for fiscal 2015. Basic earnings per share was $0.26 for fiscal 2016 compared to $0.06 in fiscal 2015. The Company’s recently appointed president and chief executive officer Brian Recatto commented, "We are pleased that we were able to achieve record net income during the year." Mark DeVita, chief financial officer stated, "Along with record profitability we were able to generate improved cash flow during 2016 which will give us the flexibility to take advantage of future opportunities to help grow our revenue."