Printer Friendly

USA WASTE SERVICES REPORTS 1991 EARNINGS

 USA WASTE SERVICES REPORTS 1991 EARNINGS
 DALLAS, Feb. 24 /PRNewswire/ -- USA Waste Services, Inc.


(NASDAQ: USAS), today announced earnings for the fourth quarter and year ended Dec. 31, 1991:
 USA WASTE SERVICES, INC.
 (In thousands, except per share amounts)
 Three Months ended Dec. 31,
 1991 1990
 Originally As
 Reported Restated(A)
 Total revenues $ 6,116 $ 1,316 $ 3,008
 Net income $ 992 $ 130 $ 475
 Earnings per share $ 0.10 $ 0.05 $ 0.06
 Average shares and equivalent
 shares outstanding 9,955 2,976 7,476
 Year ended Dec. 31,
 1991 1990
 Originally As
 Reported Restated(A)
 Total revenues $19,404 $ 3,861 $10,726
 Net income $ 2,971 $ 229 $ 2,114
 Earnings per share $ 0.32 $ 0.08 $ 0.28
 Average shares and equivalent
 shares outstanding 9,371 2,976 7,476
 (A) -- The financial results for 1990 have been restated for a June 1991 business combination, accounted for as a pooling of interests.
 Earl E. DeFrates, USA Waste's CFO, stated that the results for the year and fourth quarter ended Dec. 31, 1991, were right on target with the company's earlier projections. Net income of $992,000 for the fourth quarter reflected an increase of over 100 percent vs. the restated comparable 1990 quarter, while per share earnings of $.10 were up 67 percent over 1990 results.
 DeFrates further noted that the sharp increase in earnings reflected the company's philosophy of growth through acquisition in select markets, coupled with the disciplined management to enhance operating margins.
 USA Waste, which completed a series of five business acquisitions at or near year end 1991 (none of which are reflected in the 1991 results) is currently generating annual revenues of $33 million.
 USA Waste, based in Dallas, is a fast growing solid waste management company, performing both waste collection and disposal services in multiple locations nationwide.
 -0- 2/24/92
 /CONTACT: Earl E. DeFrates of USA Waste Services, 214-233-4212/
 (USAS) CO: USA Waste Services, Inc. ST: Texas IN: SU: ERN


GK -- NY058 -- 1961 02/24/92 14:06 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 24, 1992
Words:337
Previous Article:DONNELLY CORPORATION ANNOUNCES STOCK AND CASH DIVIDEND
Next Article:JAN BELL TO SETTLE CLASS ACTION LITIGATION
Topics:


Related Articles
USA WASTE SERVICES REPORTS FIRST QUARTER EARNINGS
USA WASTE SERVICES ANNOUNCES RECORD REVENUES AND EARNINGS
USA WASTE SERVICES REPORTS 1992 EARNINGS
USA WASTE SERVICES REPORTS INCREASE IN FIRST QUARTER EARNINGS
USA WASTE SERVICES REPORTS RECORD THIRD QUARTER EARNINGS
USA WASTE SERVICES REPORTS FIRST QUARTER EARNINGS
USA WASTE SERVICES REPORTS SECOND QUARTER EARNINGS
USA WASTE SERVICES REPORTS FOURTH QUARTER EARNINGS
USA WASTE SERVICES REPORTS FIRST QUARTER EARNINGS
USA Waste Reports Strong First Quarter Internal Growth and Net Income

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters