Waste Services’ Revenues Decline in Second Quarter

Burlington, Ontario, Canada-based Waste Services posted a net income of $3.5 million on $107.5 million in revenue during the second quarter of this year. During the same period in 2008, the firm posted a net income of $3.9 million on $128.3 million in revenue.

For the first six months of this year, Waste Services posted a net income of $7.5 million on $203.3 million in revenue. During the same period in 2008, the firm posted a net income of $16.6 million on $244.9 million in revenue.

“We are pleased to report that we are on track to meet our full year guidance for adjusted earnings per share of $0.38 to $0.40 and that we have continued to perform well in the recessionary environment,” said David Sutherland-Yoest, president and CEO of Waste Services, in a press release. “We have managed our costs and raised prices to offset declines in revenue and volume, improving margins and positioning the company for strong results when economic conditions improve. We look forward to a solid third quarter and continuing improvement throughout the remainder of the year.”

TAGS: Financials