LYCOS RETRIEVER
Allied Waste Industries: Revenue
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For the nine-month period ended September 30, 2007, Allied Waste's revenues were $4.55 billion, as strong pricing drove an increase of $105.4 million over revenue for the prior year period. Operating income for the period increased 8.1% to $761.1 million, as margins expanded 90 basis points to 16.7%. Income from continuing operations for the period increased 30.2% to $192.2 million for the first nine months of 2007, compared with $147.6 million for the comparable period of 2006. Income from continuing operations for the first nine months of 2007 increased to $0.44 per share, compared with $0.32 per share in the prior year. Nine-month earnings for 2007 are inclusive of debt redemption and refinancing costs, as well as a loss on divestitures and impairment costs of $0.10 and $0.07 per share, respectively. Nine-month earnings for 2006 are inclusive of debt refinancing costs, as well as a loss on divestitures and asset impairments of $0.07 and $0.02 per share, respectively.
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For the year ended December 31, 2007, Allied Waste's revenue was $6.07 billion, an increase of $160.2 million, or 2.7%, over prior year. Continued strong pricing for the year of 6.0% was partially offset by a 3.5% decline in annual volumes driven primarily by a slowdown in housing construction.
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While Allied Waste's residential hauling volume tends to be recession-proof, that accounts for only about 28 percent of collection revenues. Most of the sources of its other revenue - construction, roll-offs and disposal of special wastes - are sensitive to economic slowdowns.
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