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