LYCOS RETRIEVER 
Allied Waste Industries
built 120 days ago
PHOENIX, Oct. 31 /PRNewswire-FirstCall/ -- Allied Waste Industries, Inc. AW, the nation's second largest waste services company, today reported financial results for its third quarter and nine-months ended September 30, 2007. Total revenue for the third quarter was $1.56 billion, an increase of $31.2 million, or 2.0%, over $1.53 billion for the third quarter 2006. The increase in revenue resulted from a 5.6% increase in same store average unit prices driven by the Company's programs to improve returns on invested capital. High prices for the period were partially offset by a 3.7% decrease in same-store volumes related primarily to a slowdown in the Company's economy-sensitive lines of business including roll-off, construction and special waste.
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Allied Waste Industries possesses a network of 304 collection companies. This network offers collection services to more than 10 million customers through the nation. They even provide this service to the residential customers. The residential customers are served under individual household subscriptions. Apart from that, they are even served under municipal contracts. In addition to that, they serve commercial and industrial customers throughout the country.
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During the third quarter 2007, Allied Waste completed the evaluation of the long-term closure and post-closure obligation at one of its landfills in the Midwestern region that, until recently, was managed by a third-party according to a partnership agreement. The evaluation indicated an increase in the asset retirement obligation and a resulting impairment of the landfill asset totaling $24.5 million (pre-tax) which is included in loss from divestitures and asset impairments.
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Allied Waste Industries Inc. (AW) opened at 11.00. So far today, the stock has hit a low of 10.43 and a high of 11.00. AW is now trading at 10.52, down 0.42 (-3.82%). The stock hit its 52 week high of 14.10 in June and set its 52 week low of 10.43 today. AW rose during the first half of 2007, but has traded lower since July. Allied Waste Industries shares have been falling today as the waste management sector is being dragged down by investors' concerns about continued credit crisis, following ratings agencies' decision to cut their outlook for bond insurers.
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Ivan came from industry leader Waste Management, where he worked with Ferreira. In October 1990, Ivan was promoted to president, in place of Ferreira who resigned "for personal reasons." At that time, AWI was poised to begin a program of mergers and acquisitions that would lead it from a small solid waste handler to a giant rivaling Waste Management, all in a relatively short period of time. Interestingly enough, the company first concentrated on markets small enough (communities of less that 50,000 people), so as not to compete with the big names, according to Ivan.
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Allied Waste Industries will collect Christmas trees for up to two weeks into the New Year without being scheduled. If the tree is longer than five feet in length it needs to be cut in half.
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