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WCA Waste Corporation Announces Results For The Quarter And Year Ended December 31, 2010

Stock quotes in this article: WCAA

  • Revenue for the fourth quarter increased 24.6% over the fourth quarter of 2009
  • Operating income increased 41.4% over the fourth quarter of 2009
  • Completed four tuck-in acquisitions during 2010
  • Interest rate swap expired on November 1, 2010, which will improve annual cash flow by $6.7 million based on 2010 results

HOUSTON, March 2, 2011 (GLOBE NEWSWIRE) -- WCA Waste Corporation (Nasdaq:WCAA) announced today financial results for the quarter and year ended December 31, 2010.

WCA Waste Corporation Logo

For the fourth quarter of 2010:

  • Revenue was $57.6 million, up 24.6% from $46.2 million in the fourth quarter of 2009.
  • Operating income was $5.4 million compared to $3.8 million in the same quarter of 2009.
  • Net loss available to common stockholders was $0.03 per share while adjusted net loss available to common stockholders was $0.02 per share. This compares to a net loss of $0.14 per share and $0.10 per share, respectively, for the same quarter in 2009.

For the year of 2010:

  • Revenue was $229.5 million, up 18.2% from $194.1 million for the year ended December 31, 2009.
  • Operating income was $23.3 million.
  • Net loss available to common stockholders was $0.13 per share compared to a net loss of $0.21 in 2009. Adjusted net loss available to common stockholders was $0.10 per share.

WCA completed four tuck-in acquisitions during 2010 (three in Houston, Texas and one in Oklahoma) with approximately $7 million in total annualized revenue. The Company completed two of these acquisitions in the fourth quarter.

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