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H.S. junior Avg
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New words:
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Financial report summary
?Competition
StericycleManagement Discussion
- Total revenues for the fiscal year ended June 30, 2021 of $76.4 million increased by $25.3 million, or 49.4%, from the total revenues for the fiscal year ended June 30, 2020 of $51.1 million. The increase in revenue is mainly due to increased billings in the Retail, Professional, Long-Term Care and Pharmaceutical Manufacturer markets. The net increase in billings is partially offset by current year deferred revenue net of product returns on sales in prior periods. Billings by market are as follows (in thousands):
- *Represents the net impact of the revenue recognition adjustments to arrive at reported generally accepted accounting principles (“GAAP”) revenue. Customer billings include all invoiced amounts associated with products shipped or services rendered during the period reported. GAAP revenue includes customer billings as well as numerous adjustments necessary to reflect, (i) the deferral of a portion of current period sales, (ii) recognition of certain revenue associated with product returned for treatment and destruction and (iii) provisions for certain product returns and discounts to customers which are accounted for as reductions in sales in the same period the related sales are recorded. See Note 2 “Summary of Significant Accounting Policies” in “Notes to Consolidated Financial Statements”.
- (1)The Company’s other products include IV poles, accessories, containers, asset return boxes and other miscellaneous items.