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WCA Waste Corporation Announces Results For The Quarter Ended June 30, 2010

  • Reported net income available to common stockholders of $0.01 per share
  • Revenues increased 20% compared to the second quarter of 2009, boosted by acquisitions
  • Operating income more than doubled from the first quarter of 2010
  • Successfully amended credit facility, extending term to January 2014

HOUSTON, Aug. 4, 2010 (GLOBE NEWSWIRE) -- WCA Waste Corporation (Nasdaq:WCAA) announced today financial results for the three months ended June 30, 2010.

For the second quarter of 2010:
  • Revenue was $60.3 million, up 20.2% from $50.2 million in the second quarter of 2009.
  • Operating income was $7.6 million compared to $6.8 million in the same quarter last year.
  • Net income available to common stockholders was $0.01 per share while adjusted net income available to common stockholders was $0.02 per share.

For the first six months of 2010:
  • Revenue was $112.6 million, up 14.5% from $98.4 million in 2009.
  • Operating income was $11.2 million compared to $13.3 million in the prior year period.
  • Net loss available to common stockholders was $0.08 per share while adjusted net loss available to common stockholders was $0.06 per share.

Tom Fatjo, Chairman and CEO stated, "We are very pleased by the recovery in revenue and earnings in the second quarter which clearly rebounded following the severe weather in the first quarter of 2010. Our focus remains on driving growth in our Houston and Ohio markets and maximizing the operating leverage of these assets while creating value for our shareholders."

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