Phoenix-based Republic Services posted a net income of $46.5 million on revenues of $2.09 billion during the second quarter of this year. During the same period in 2010, the firm posted a net income of $159.7 million on the same amount of revenue, $2.07 billion.
"The business continues to track to our expectations,” said Donald W. Slager, president and CEO of Republic Services, in a press release. “The Company's performance is a direct result of continued focus on pricing, productivity improvements and customer service. This is the fifth quarter in a row we have seen improvement in our collection volumes. We are confident in reaffirming our guidance. We remain committed to a consistent cash utilization strategy that includes both dividend growth and share repurchase."
For the first six months of this year, Republic reported a net income of $204.7 million on revenue of $4.05 billion. For the same period in 2010, the firm reported a net income of $224.7 million on $4.02 billion in revenue.