Casella Reports Higher Revenue, Lower Net Loss

Rutland, Vt.-based Casella Waste Systems reported a net loss of $6.4 million on $111.6 million in revenue during the third quarter of its 2011 fiscal year. During the same period in its 2010 fiscal year, the firm posted a net loss of $4.4 million on $109.9 million in revenue.

Casella’s third quarter ends on Jan. 31.

“While our third quarter results were below last year’s performance and our plan, the underperformance was mainly driven by adverse weather and non-recurring events,” said John Casella, chairman and CEO of Casella Waste Systems, in a statement. “The bad winter weather during the quarter impacted operational performance, with lower than projected productivity throughout the solid waste business and lower waste volumes.”

For the first three quarters of its 2011 fiscal year, Casella posted a net loss of $10.4 million on $356.5 million in revenue. During the same period in its 2010 fiscal year, the firm posted a net loss of $8.7 million on $344.9 million in revenue.

TAGS: Financials