Heritage-Crystal Clean, Inc. - FORM 8-K - EX-99 - EXHIBIT 99.1 - August 8, 2011

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8-K - FORM 8-K - Heritage-Crystal Clean, Inc.f8k_080811.htm
Heritage-Crystal Clean, Inc.
Historic Segment Financial Reporting
(In Thousands)
(Unaudited)
 
First Quarter Ended,
March 27, 2010
  
 
                          
                           
     
Environmental
Services
  
Oil Business
    
Corporate and
Eliminations
  
Consolidated
  
                           
Sales
   $ 22,764     $ 1,241     $ -     $ 24,005  
Operating expenses
                                
Operating costs
     16,122       1,496       -       17,618  
Operating depreciation and amortization
     875       8       -       883  
Profit (loss) before corporate selling, general, and administrative expenses
     5,767       (263 )             5,504  
Selling, general, and administrative expenses
     -       -       4,218       4,218  
Depreciation and amortization from SG&A
     -       -       146       146  
Total selling, general, and administrative expenses
                     4,364       4,364  
Operating income
                             1,140  
Interest expense - net
     -       -       -       -  
Income before income taxes
                       1,140  
Provision for income taxes
     -       -       478       478  
Net income
                           $ 662  
                                   
Second Quarter Ended,
June 19, 2010
  
 
                                  
                                   
     
Environmental
Services
  
Oil Business
    
Corporate and
Eliminations
  
Consolidated
  
                                   
Sales
   $ 24,132     $ 1,206     $ -     $ 25,338  
Operating expenses
                                
Operating costs
     16,609       1,714       -       18,323  
Operating depreciation and amortization
     896       9       -       905  
Profit (loss) before corporate selling, general, and administrative expenses
     6,627       (517 )             6,110  
Selling, general, and administrative expenses
     -       -       4,285       4,285  
Depreciation and amortization from SG&A
     -       -       150       150  
Total selling, general, and administrative expenses
     4,435       4,435  
Loss from disposal of fixed asset
     -       -       39       39  
Operating income
                             1,636  
Interest expense - net
     -       -       -       -  
Income before income taxes
                       1,636  
Provision for income taxes
     -       -       705       705  
Net income
                           $ 931  
                                   
Third Quarter Ended,
September 11, 2010
  
 
                                  
                                   
     
Environmental
Services
  
Oil Business
    
Corporate and
Eliminations
  
Consolidated
  
                                   
Sales
   $ 23,897     $ 2,839     $ -     $ 26,736  
Operating expenses
                                
Operating costs
     17,243       3,154       -       20,397  
Operating depreciation and amortization
     915       10       -       925  
Profit (loss) before corporate selling, general, and administrative expenses
     5,739       (325 )             5,414  
Selling, general, and administrative expenses
     -       -       4,000       4,000  
Depreciation and amortization from SG&A
     -       -       151       151  
Total selling, general, and administrative expenses
                     4,151       4,151  
Operating income
                             1,263  
Interest expense - net
     -       -       -       -  
Income before income taxes
                       1,263  
Provision for income taxes
     -       -       536       536  
Net income
                           $ 727  
 
 
 
 
 
Heritage-Crystal Clean, Inc.
Historic Segment Financial Reporting
(In Thousands)
(Unaudited)
 
Fourth Quarter Ended,
January 1, 2011
  
 
                          
                           
     
Environmental
Services
  
Oil Business
    
Corporate and
Eliminations
  
Consolidated
  
                           
Sales
   $ 33,427     $ 2,612     $ -     $ 36,039  
Operating expenses
                                
Operating costs
     24,013       3,422       -       27,435  
Operating depreciation and amortization
     1,259       14       -       1,273  
Profit (loss) before corporate selling, general, and administrative expenses
     8,155       (824 )             7,331  
Selling, general, and administrative expenses
     -       -       5,533       5,533  
Depreciation and amortization from SG&A
     -       -       195       195  
Total selling, general, and administrative expenses
                     5,728       5,728  
Operating income
                             1,603  
Interest expense - net
     -       -       -       -  
Income before income taxes
                       1,603  
Provision for income taxes
     -       -       652       652  
Net income
                           $ 951  
                                   
Year Ended
January 1, 2011
  
 
                                  
                                   
     
Environmental
Services
  
Oil Business
    
Corporate and
Eliminations
  
Consolidated
  
                                   
Sales
   $ 104,220     $ 7,898     $ -     $ 112,118  
Operating expenses
                                
Operating costs
     73,987       9,786       -       83,773  
Operating depreciation and amortization
     3,945       41       -       3,986  
Profit (loss) before corporate selling, general, and administrative expenses
     26,288       (1,929 )             24,359  
Selling, general, and administrative expenses
     -       -       18,036       18,036  
Depreciation and amortization from SG&A
     -       -       642       642  
Total selling, general, and
administrative expenses
     18,678       18,678  
Loss from disposal of fixed asset
     -       -       39       39  
Operating income
                             5,642  
Interest expense - net
     -       -       -       -  
Income before income taxes
                       5,642  
Provision for income taxes
     -       -       2,371       2,371  
Net income
                           $ 3,271  
                                   
                                   
Total Assets by Segment
  
                                   
     
March 27, 2010
    
June 19, 2010
    
September 11, 2010
    
January 1, 2011
  
Total assets:
                                
     Environmental Services
     24,944       25,832       25,305       26,498  
     Oil Business
     1,960       4,018       5,871       13,261  
     Unallocated corporate assets
     28,751       50,897       54,290       49,813  
               Total
     55,655       80,747       85,466       89,572  
 
Segment assets for the Environmental Services and Oil Business segments consist of property, plant, and equipment, intangible assets, and inventories allocated to each segment.  Assets for the Corporate unallocated amounts consist of property, plant, and equipment used at the Corporate headquarters, as well as cash, accounts receivable, and tax assets.

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