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October 2006

 

Casella Waste announces loss

Casella Waste Systems, Inc. reported financial results for the first quarter of its 2007 fiscal year.

For the quarter ended July 31, 2006, the company reported revenues of $143.5 million versus $132.0 million for the same period in fiscal year 2006. The company’s net loss per common share was $0.04, versus net income per common share of $0.09 for the same period a year ago.

Operating income for the quarter was $8.7 million versus $13.0 million for the same quarter a year ago. Cash provided by operating activities in the quarter was $18.4 million versus $22.6 million in the first quarter last year.

John W. Casella, chairman and chief executive officer, said. “As we indicated in mid-August, these results reflect the cumulative impact of a number of factors, including historical record rainfalls affecting already-flat seasonal construction activity, as well as landfill maintenance costs, landfill volume pressures in our Massachusetts market, a drop in plastics commodities pricing, and additional and front-loaded general and administration expenses.”


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