WCA Waste Corp. Reports Net Loss For 2004

Houston — WCA Waste Corp., Houston, reported a net loss of $4.4 million on revenue of $73.5 million in 2004. In 2003, the firm posted a net income of $5.1 million on revenue of $64.2 million.

"We are pleased with our financial and operational results for the year ended Dec. 31, 2004. Our acquisition program has remained active …," says Tom J. Fatjo Jr., chairman and CEO of WCA. "We expect that our acquisition program will significantly increase revenue and profit over the long-term. In the short term, as expected, the cost of acquiring and integrating companies will continue to put pressure on operating results."

Fatjo also estimates that the costs of being a public company are about $500,000 quarterly. The firm had its initial public offering in June 2004.

During fourth-quarter 2004, WCA posted a net income of $692,000 on revenue of $20.6 million. During the same period a year earlier, the firm reported a net income of $320,000 on $16 million in revenue.

TAGS: Financials