<b>Waste Connections Sees Improving Quarter</b>

Waste Connections, Inc. reported first quarter revenue of $85.1 million, a 33 percent increase from last year’s first quarter figures. The company also reported operating income increased close to 50 percent to $23.2 million, from $15.6 million the same time last year.

Ronald J. Mittelstaedt, chairman and CEO, said, ``During the first quarter the company overcame a number of challenges, including some of the worst winter weather in decades in the Midwest and historically low commodity prices. We are very pleased with our performance despite these challenges and have seen a relatively normal seasonal increase in volumes going into the second quarter. During the quarter, there were relatively little special waste volumes, which were a meaningful contributor to revenues in both the third and fourth quarter of 2000. We also began to see results from our internal growth initiatives with a successful bid on a landfill management contract for Western Placer County in California and an award of the City of West Valley, Utah collection contract. We had an outstanding first quarter of acquisitions, having acquired businesses with $24 million in annualized revenues. With our acquisition of a majority ownership in LRI, our Pacific Northwest Region is substantially strengthened going forward due to full integration of this marketplace.

“Our backlog of acquisition discussions remains roughly equivalent to previous levels although the mix has changed somewhat to include fewer, yet larger transactions. We are pleased to have successfully completed a $115 million convertible subordinated debt offering, which has enhanced our capital structure and provided significant acquisition financing capacity. All in all, it was an excellent quarter.''

April 2001
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