Houston-based WCA Waste posted a net loss of $1.7 million on $58 million in revenue during the first quarter of 2011. Both figures are improvements from their first-quarter 2010 counterparts. During the first three months of last year, WCA Waste posted a net loss of $1.9 million on $52.3 million in revenue.
“Even factoring in the weather disruptions, the solid waste operations produced organic growth with positive price and [municipal solid waste] volumes,” said Tom Fatjo Jr., chairman and CEO of WCA Waste, in a statement. “Also, special waste activity remains strong, providing further evidence that the economy, while slow growing, appears to be stable.”
According to WCA Waste, negative factors in the firm’s first-quarter performance included $1.2 million in increased fuel costs; $400,000 in legal and accounting fees related to the acquisitions of Emerald Waste Services in central Florida, and of a construction and demolition debris recycling facility and transfer station in Massachusetts; $300,000 in integration costs stemming from the acquisitions; and service interruptions caused by severe winter weather.
“We are excited to have completed the [Massachusetts] and Emerald Waste-central Florida transactions during the quarter,” Fatjo added in his statement. “We are confident that once our integration is completed, these transactions will strengthen our operations in the Boston area and further expand our presence in the Florida markets.”
The firm also reaffirmed its 2011 revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) goals of $270 million and $61 million, respectively.
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