Printer Friendly

ALLIED WASTE INDUSTRIES, INC. ANNOUNCES RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31, 1993

 HOUSTON, May 7 /PRNewswire/ -- Allied Waste Industries, Inc. (NASDAQ-NMS: AWIN) today announced results for its first quarter ended March 31, 1993. The company's revenues increased 42 percent over the comparable 1992 quarter. Gross profit increased 88 percent and operation income 222 percent over the 1992 quarter reflecting the successful integration of acquired companies.
 Revenues for the first quarter 1993 were $10,005,000 compared with $7,066,000 for the first quarter 1992. Recurring net income was $407,000 for the first quarter 1993 and $179,000 for the first quarter 1992. The company also realized a $205,000 non-recurring gain on the sale of a landfill during the first quarter of 1992. After deducting preferred dividends of $77,000 in each quarter, earnings per common share were $.04 for the first quarter of 1993 and, excluding the non- recurring gain, $.01 for the 1992 first quarter. The non-recurring gain amounted to $.03 per share.
 Roger Ramsey, Allied's chairman, stated, "Our quarterly results continue to show substantial improvement in two key areas - gross margin and operating margin. Our gross margin improved by nearly one-third, from 30.3 percent for the first quarter 1992 to 40.2 percent in 1993, and illustrates the success of our efforts to become a fully integrated waste management company. In our Illinois region, for example, approximately 80 percent of the waste we collect now goes to our own landfills. The increase in our operating margins, from 8.6 percent to 19.6 percent for the comparable quarters, shows that we have been able to maintain effective cost control during the rapid growth Allied experience during the past twelve months."
 Allied Waste Industries, Inc. headquartered in Houston, is a rapidly growing solid waste management company providing non-hazardous waste collection, recycling and disposal services in the Midwest and Southwest.
 ALLIED WASTE INDUSTRIES, INC.
 (In Thousands)
 Quarter ended March 31, 1993 1992
 Revenues $10,005 $7,066
 Net Income from Recurring Operations $407 $179
 Less: Preferred Dividends $(77) $(77)
 Net Income from Recurring Operations
 Available to Common Shareholders $330 $ 102
 Non-Recurring Gain on Sale
 of Landfill $ -- $ 205
 Earnings per Common Share from
 Recurring Operations $.04 $ .01
 Earnings per Common Share from Sale of
 Landfill $ -- $ .03
 Total $.04 $ .04
 Weighted Average Common Shares (000) 10,772 7,260
 -0- 5/7/93
 /CONTACT: David M.K. Ruth of Allied Waste Industries, 713-664-1888/
 (AWIN)


CO: Allied Waste Industries, Inc. ST: Texas IN: ENV SU: ERN

SH -- NY054 -- 6018 05/07/93 14:20 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 7, 1993
Words:414
Previous Article:ORION CAPITAL CORPORATION DECLARES QUARTERLY DIVIDEND ON COMMON STOCK
Next Article:NORTH AMERICAN MORTGAGE HOLDS ANNUAL MEETING
Topics:


Related Articles
ALLIED WASTE ANNOUNCES 1991 RESULTS OF OPERATIONS
TRANSCOR WASTE SERVICES ANNOUNCES 63 PERCENT INCREASE IN REVENUE AND SIGNIFICANT INCREASES IN NET INCOME FOR THE FIRST QUARTER
REPUBLIC WASTE INDUSTRIES ANNOUNCES FIRST QUARTER 1993 EARNINGS OUTLOOK
BROWNING-FERRIS ANNOUNCES SECOND QUARTER AND MID-YEAR RESULTS
NATEC RESOURCES ANNOUNCES $828,000 IMPROVEMENT IN FIRST QUARTER
KIMMINS ENVIRONMENTAL SERVICE CORP. ANNOUNCES SIGNIFICANT IMPROVEMENT IN NET INCOME FOR THE FIRST QUARTER
TRANSAMERICAN WASTE REPORTS THIRD QUARTER RESULTS
TRANSAMERICAN WASTE INDUSTRIES REPORTS FIRST QUARTER RESULTS
REPUBLIC WASTE INDUSTRIES, INC. REPORTS $.10 PER SHARE EARNINGS FROM OPERATIONS FOR THE FOURTH QUARTER OF 1993 VERSUS $.07 PER SHARE IN THE FOURTH...
WMX TECHNOLOGIES, INC. REPORTS FIRST QUARTER RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters