WCA Waste Corp. sees its revenues decline in 2009.

Stephen Ursery, Editor, Waste Age Magazine

April 1, 2010

2 Min Read
Revenue Drop

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.

About the Author(s)

Stephen Ursery

Editor, Waste Age Magazine, Waste360

Stephen Ursery is the editor of Waste Age magazine. During his time as editor, Waste Age has won more than 20 national and regional awards. He has worked for Penton Media since August 1999. Before joining Waste Age as the magazine's managing editor, he was an associate editor for American City & County and for National Real Estate Investor.

Prior to joining Penton, Stephen worked as a reporter for The Marietta Daily Journal and The Fulton County Daily Report, both of which are located in metro Atlanta.

Stephen earned a BA in History from Rhodes College in Memphis, Tenn.

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