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September 2006

 

Waste Connections reports second quarter results

Waste Connections, Inc. announced its results for the second quarter 2006. Revenue totaled $207.0 million, a 14.8% increase over revenue of $180.3 million a year ago.

Operating income was $40.8 million versus $43.6 million in the second quarter of 2005. Net income was $19.2 million, or $0.41 per share on a diluted basis of 46.9 million shares.

Waste Connections noted three items in the second quarter 2006 results which combined to decrease diluted earnings per share by approximately $0.05:

  • Additional development costs for insurance claims from prior years of $3.8 million ($2.4 million net of taxes).
  • Stock-based compensation costs of $1.0 million ($0.6 million net of taxes).
  • Reduced interest expense due to the redemption of convertible notes of $1.0 million ($0.6 million net of taxes).


877-777-0737    •     Fax 419-931-0740     •     118 E. Third Street, Suite A   Perrysburg, OH 43551
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