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Revenue Drop

WCA Waste Corp. sees its revenues decline in 2009.

Houston-based WCA Waste Corp. posted a net loss of $2.3 million on $46.2 million in revenue during the fourth quarter of 2009. During the same period in 2008, the firm posted a net loss of $30 million on $53.6 million in revenue.

For all of 2009, WCA Waste posted a net loss of $3.3 million on $194.1 million in revenue. In 2008, the firm posted a net loss of $31.8 million on $208 million in revenue.

"2009 was a challenging year because of the economy … ," said Tom Fatjo, chairman of WCA Waste Corp., in a press release. "Our management was very responsive to this decrease in revenue and as a result our cost of services decreased by $11.8 million. This resulted in an adjusted EBITDA margin of 26.5 percent in 2009 compared to 25.9 percent in 2008."

In the press release, Fatjo said the firm's fourth-quarter 2009 acquisition of Live Earth would add approximately $30 million in revenue this year. Live Earth's assets include the Sunny Farms Landfill in Fostoria, Ohio, and the Champion City Recovery Transfer Station near Boston. The purchase price included $18.75 million in cash and 3.56 shares of WCA common stock.

WCA's assets, located primarily in the South and Midwest, include 25 landfills, 23 transfer stations/material recovery facilities and 26 collection operations.

In other financial news, Phoenix-based Republic Services will release its first-quarter earnings report on Thursday, April 29. The firm also will conduct an investor conference call at 5 p.m. on that day to discuss the results. Those wanting to listen can access the call by dialing (210) 234-0084. The pass code is "Republic Services." A live Webcast of the call will be available at www.republicservices.com (click on the "Investor Information" link). The Webcast also will be archived on the site.

TAGS: Financials