IESI-BFC to Release First-Quarter Report in Late April

Toronto-based IESI-BFC will release its first-quarter 2011 financial report after the close of the stock markets on Thursday, April 28. The company will discuss the results in a conference call with analysts at 8 a.m. EST on Friday, April 29.

You can listen to the call live by dialing (888) 300-0053 approximately 10 minutes before the start of the call. The identification number is 58005300. A live webcast of the call also will be available on IESI-BFC’s website.

IESI-BFC Ltd. posted a net income of $21.7 million on $429.9 million in revenue during the fourth quarter of 2010. Both figures represented significant jumps from the same period in 2009, when IESI-BFC posted a net income of $9.9 million on $262.5 million in revenue.

IESI-BFC officials attribute the increased figures in part to acquisitions the firm completed last year, such as its July 2010 purchase of Burlington, Ontario-based Waste Services. Another notable acquisition by IESI-BFC in 2010 was the $159 million purchase of the collection, transfer and landfill assets of Fred Weber Inc. in December. Among the assets included in that transaction was the Fred Weber Landfill, one of the largest remaining privately owned landfills in the United States, and the largest landfill in the state of Missouri by volume. The estimated remaining lifespan of the landfill is 80 years.

At the time of the release of its fourth-quarter 2010 report, IESI-BFC’s outlook for 2011 was positive: the firm projected a 25.9 percent increase in revenue for this year when compared with 2010.

TAGS: Financials