Republic Services, Inc.
reported that first quarter revenue increased seven percent to $535.4 million
from $501.5 million for the same period in 2000. Net income was $49.6 million,
compared to $50.2 million last year. Operating income for the three months
ended March 31 was $98.9 million, compared to $101.7 million for the same
quarter last year.
James E. O'Connor, CEO,
said, "I am pleased with the company's performance in the first quarter.
As we had anticipated, higher fuel and labor costs in certain markets
negatively impacted our year-over-year margins. We also experienced earnings
pressure in the first quarter due to soft commodity pricing. Nevertheless,
apart from the effects of commodity pricing, our core solid waste business
realized internal growth of 4.3% during the quarter, consisting of a 2.2%
increase in price and a 2.1% increase in volume.
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