Waste Connections reports increased revenue

Waste Connections, Inc. announced its results for the second quarter of 2010. Revenue totaled $330.5 million, a 9.1 percent increase over revenue of $302.8 million in the year ago period. Operating income was $69.4 million, or 21.0 percent of revenue, versus $59.4 million in the second quarter of 2009. Net income attributable to Waste Connections in the quarter was $30.4 million, or $0.39 per share on a diluted basis of 78.3 million shares.

Adjusted net income attributable to Waste Connections in the quarter was $37.2 million, or $0.48 per share, excluding costs primarily associated with the early redemption of the Company’s 2026 notes.

Adjusted net income attributable to Waste Connections in the prior year period was $29.6 million, or $0.37 per share, adjusted primarily for acquisition-related costs expensed due to the implementation of new accounting guidance for business combinations effective January 1, 2009, a gain on disposal of assets, and the impact of a deferred tax adjustment.