Swisher Hygience Announces Restated Q1, Q2, Q3 2011 Results; Names Thomas Byrne CEO, William Nanovsky CFO

Swisher Hygiene Inc. ("Swisher Hygiene")

announced today restated first, second and third quarter results for 2011. All amounts in this news release are in United States dollars. Highlights of Restated Quarterly Results Aggregate adjustments result in $4.8 million increase in net loss before income tax. Aggregate adjustments result in $1.9 million increase in net loss. Aggregate adjustments result in $0.01 increase in net loss per share. In addition, Swisher Hygiene announced today that its Board has named Thomas C. Byrne as President and Chief Executive Officer, and William T. Nanovsky as Senior Vice President and Chief Financial Officer. Previously, both Messrs. Byrne and Nanovsky had been appointed to these positions in an interim capacity. "We are pleased to have completed the restatement process and will file our restated financial results for the first three quarters of 2011 by this afternoon with NASDAQ and the SEC," said Mr. Byrne. "In addition, we continue to work nonstop toward finalizing our 2011 Annual Report on Form 10-K, including our audited financial statements, as well as toward filing our quarterly reports for the first three quarters of 2012 as quickly as possible in order to regain compliance with our NASDAQ listing requirements. We have notified NASDAQ of our intention to file our 10-K on Monday, February 25." "We remain optimistic about Swisher Hygiene's overall operations and will provide further updates on our plans for 2013 and our long-term business strategy in due course," continued Mr. Byrne. "In the interim, we remain dedicated to serving our customers nationwide on a day-to-day basis with our comprehensive core chemical program as well as our complementary hygiene and sanitation services. We will announce a call for later today to discuss our restatements and plan to conduct a follow-up call on Monday, February 25 to discuss full year 2011 results." Select restated financials for each of the quarterly periods are summarized in the table below and include results from Swisher Hygiene's Waste segment, which was sold on November 15, 2012. The term Restatement Adjustments refers to adjustments to Swisher Hygiene's prior accounting and an adjustment to reflect the impact of a change in accounting estimate resulting from Swisher Hygiene's reassessment of the remaining useful lives of its property and equipment. Restated results are not necessarily indicative of fourth quarter and full year 2011 results. For complete restated financial results, please consult today's SEC filings of Swisher Hygiene's Amended Quarterly Reports on Form 10-Q/A for the quarterly periods ended March 31, June 30 and September 30, 2011. Fiscal quarter ended (in millions, except per share amounts) March 31, 2011 June 30, 2011 September 30, 2011 As Reported Restatement Adjustments As Restated As Reported Restatement Adjustments As Restated As Reported Restatement Adjustments As Restated Revenue $27.4 ($0.1) $27.3 $51.7 $0.2 $51.9 $67.2 $0.2 $67.4 Net loss before income taxes ($7.9) ($4.5) ($12.4) ($10.6) ($1.4) ($12.0) ($3.7) $1.1 ($2.6) Net loss ($3.2) ($2.8) ($6.0) ($7.1) ($1.0) ($8.1) ($3.8) $1.9 ($1.9) Basic and diluted loss per share ($0.03) ($0.02) ($0.05) ($0.04) ($0.01) ($0.05) ($0.02) $0.01 ($0.01)