Waste Management blames results on labor disruption
Waste Management, Inc. announced third quarter revenues were $3.40 billion
as compared with $3.44 billion in the year ago period. Net income for the
quarter was $278 million, or $0.54 per diluted share, compared with $300
million, or $0.55 per diluted share, in the prior year period.
The Company noted a $16 million after-tax decrease, or
approximately $0.03 per diluted share, in the current quarter’s net income related primarily
to the cost of the labor disruption in the Oakland, California area.
Income from operations as a percent of revenue was 16.6%
in the third quarter of 2007.