Clean Harbors Inc. (CLH) 2002年年度报告「NYSE」.pdf

1、C L E A N H A R B O R S IA N N U A L R E P O R T2002TA K I N G T H E L E A D TO G E T H E RDear Fellow Shareholder,For Clean Harbors,2002 was a year of intense activity and tremendousaccomplishment.Tripling the Companys size by acquiring Safety-KleensChemical Services Division(CSD),we established Cl

2、ean Harbors as one ofNorth Americas largest providers of environmental services and the largestoperator of hazardous waste management services in North Americareshaping our industrys competitive landscape in the process.We extendedClean Harbors geographic reach to every corner of the continent.We in

3、creased our penetration in virtually every market segment.And we expanded our customer base to over 30,000,including most of theFortune 500.We have completed numerous acquisitions since our founding in 1980,butthe purchase of CSD was our largest and most strategic.Against a backdropof recession and

4、faltering economic recovery,coupled with the difficult envi-ronment in the capital markets,the CSD acquisition was by far the mostcomplex and challenging as well.Nonetheless,we were able to secure a totalof$280 million in financing to close the transaction.For the full year,which included CSD for ap

5、proximately four months,wereported record revenues of$350.1 million.In closing the CSD acquisition,we recorded a$28.7 million extraordinary loss for debt retirement costs plusone-time restructuring and other acquisition-related charges of$6.1 million.This resulted in a net loss for the year of$28.2

6、million and loss per dilutedshare of($2.42).Excluding the extraordinary loss and restructuring andother acquisition charges,net income for the year was$2.6 million.As a result of the acquisition,we begin our first full year as a combinedorganization with the industrys strongest asset infrastructureo