Q4 2006 Earnings 8K DOC

Washington, D.C. 20549


Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: February 7, 2007 (Date of earliest event reported)

Stericycle, Inc.
(Exact name of registrant as specified in its charter)


 (State or Other Jurisdiction of Incorporation or Organization)
(Commission File Number)
(IRS Employer Identification Number)

28161 North Keith Drive
Lake Forest, Illinois    60045

(Address of principal executive offices including zip code)

(847) 367-5910
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Item 2.02 Results of Operations and Financial Condition

On February 7, 2007 Stericycle, Inc. issued a press release announcing its financial results for the quarter and full year ended December 31, 2006. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated by reference.

The press release and accompanying balance sheet refer to Stericycle's total debt to capitalizaton percentage ratio. The total debt to capitalization percentage ratio is calculated by dividing total debt (numerator) by the sum of total debt, preferred stock, and shareholders' equity (denominator). We consider this leverage ratio to be a good indicator of the strength of a company's balance sheet and its ability to service its debt. Total debt to capitalization percentage is not a measure in accordance with accounting principles generally accepted in the United States. The ratio should not be considered as an alternative to net income, as an indicator of operating performance or as an alternative to cash flow as a measure of liquidity.

Item 9.01 Financial Statement and Exhibits

(d) Exhibits The exhibits listed below is being furnished with this form 8-K.

Exhibit Description

-------- ------------

Press release, dated February 7, 2006 announcing the Company's financial results for the fourth quarter and full year ended December 31, 2006.



Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned therunto duly authorized.

  Stericycle, Inc.

  By:  /s/ Frank J.M. ten Brink
  Frank J.M. ten Brink
  Executive Vice President and Chief Financial Officer

Dated: February 7, 2007




Exhibit 99.1

Press Release dated February 7, 2007.