Date: July 31, 2003
Source: News Room
Allied Waste Industries Inc. (NYSE: AW) has posted a 42 percent drop in second-quarter net income. The company reported net income of $30.8 million, or three cents a share, compared with net income of $53.2 million, or 18 cents a share, a year earlier. Revenue increased 1.5% to $1.39 billion from $1.37 billion a year earlier. The latest results included a gain of $3.5 million, or two cents a share, related to interest-rate swap contracts, and a charge of $31.3 million, or 15 cents a share, for deferred financing costs. In the year-earlier period, the company posted a charge of $14.6 million, or seven cents a share, also related to interest-rate swap contracts.
More information: www.alliedwaste.com.
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