Waste Management Reports Rise in First Quarter Profits

Houston — Despite lower revenues, Waste Management Inc. has reported a first quarter 2001 net income of $124 million, which is more than twice its first quarter 2000 net income of $55 million. Revenues for the quarter were $2.72 billion, down 16 percent from the same quarter a year ago. The company attributes the rise in net income to cost-cutting measures, and landfill volume and roll-off business increases.