reported a 4.2% rise in profits for the fourth quarter, as better pricing offset higher operating costs.
The waste management company earned $60 million, or 43 cents a share, in the quarter, compared with $57.6 million, or 38 cents a share, a year ago. The profits included a non-cash charge of $1.3 million related to the vesting of stock options.
After adjusting for the charges, the company earned 44 cents a share in the latest quarter. Analysts polled by Thomson First Call were expecting earnings of 42 cents a share.
Fourth-quarter revenue rose 7.3% from a year ago to $738.1 million. Analysts were expecting revenue of $720.6 million in the most recent quarter. Revenue from their collection segment increased 9.3% to $562.9 million.
The company anticipates earnings of $1.90 to $1.93 a share for the fiscal year 2006.This guidance assumes the repurchase of $491 million of company stock during 2006 and includes stock option expense of 3 cents a share. Analysts were expecting earnings of $1.93 a share.
This story was created through a joint venture between TheStreet.com and IRIS.