For the three-month period ended March 31, the company posted revenues of approximately $16.8 million, compared to revenues of $17.2 million during the fourth quarter of 1999 and $8.9 million for the period ended March 31, 1999. The increase of approximately $7,940,000, or 90%, from the first quarter of 1999, was primarily due to acquisitions completed during 1999.
The company's performance in the first quarter of 2000 was significantly impacted by several factors: the seasonality of the business, resulting in lower volumes and higher costs in winter months; the ongoing integration of the Eastern New England and Washington D.C. acquisitions; higher costs related to transporting waste from the company's Eastern New England and Washington D.C. transfer stations to the company's Pennsylvania landfills; higher maintenance costs related to the fleet acquired in Eastern New England; and the initial ramp-up phase at the Mostoller landfill.
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