Republic Reports Third-Quarter Gains

Fort Lauderdale, Fla.-based Republic Services experienced a 32 percent increase in profits during third-quarter 2008. The company reports a net income of $88.7 million on revenues of $834 million for the quarter, both increases from a net income of $67 million on revenues of $806 million for the same quarter in 2007.

For the year, Republic reports a net income of $206 million on revenues $2.4 billion, compared to a net income of $208 million on revenues of $2.4 billion for the same period in 2007.

"The fundamentals of our business remain strong," said James O'Connor, chairman and CEO of Republic, in a press release. "We remain on target to achieve our full-year free cash flow guidance. While we continue to experience a reduction in volume related to the overall economy, I am pleased that pricing during the third quarter was consistent with prior quarters.”

TAGS: Financials