Date: October 28, 2010
Source: WCA Waste Corp.
In its latest financial report, WCA Waste Corp. (Houston, TX) announced the completion of four tuck-in acquisitions (three around Houston, Texas and one in Oklahoma) representing $7 million in total annualized revenue. Tom Fatjo, Chairman and CEO, stated, "Our focus remains on driving growth in our Houston and Ohio markets and maximizing the operating leverage of these assets while creating value for shareholders." President and COO Jerry Kruszka noted that "The successful completion of four tuck-in acquisitions clearly demonstrates the operating leverage we have in our core markets of Houston and the Midwest." Tom Fatjo added that "Acquisitions are a core component of WCA's growth, and as such we are placing emphasis on increasing the total volume and internalization of waste into our Sunny Farms Landfill in Ohio and our Fort Bend County Landfill near Houston, Texas."
FROM COMPANY EARNINGS REPORT:
WCA completed four tuck-in acquisitions (three around Houston, Texas and one in Oklahoma) with approximately $7 million in total annualized revenue. Two of the four acquisitions were closed on October 1, 2010. Our interest rate swap will expire on November 1, 2010, which will improve annual cash flow by approximately $6.7 million. Our operating cash flow was $22.9 million and our capital spending (excluding acquisition capital) was $20.4 million during the nine months ended September 30, 2010.
Tom Fatjo, Chairman and CEO, stated, "Our focus remains on driving growth in our Houston and Ohio markets and maximizing the operating leverage of these assets while creating value for shareholders."
President and COO Jerry Kruszka noted that "The successful completion of four tuck-in acquisitions clearly demonstrates the operating leverage we have in our core markets of Houston and the Midwest."
Tom Fatjo added that "Acquisitions are a core component of WCA's growth, and as such we are placing emphasis on increasing the total volume and internalization of waste into our Sunny Farms Landfill in Ohio and our Fort Bend County Landfill near Houston, Texas."
WCA Waste Corporation is an integrated company engaged in the transportation, processing and disposal of non-hazardous solid waste. The Company's operations currently consist of 25 landfills, 24 transfer stations/material recovery facilities and 26 collection operations located throughout Alabama, Arkansas, Colorado, Florida, Kansas, Massachusetts, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee and Texas. The Company's common stock is traded on the NASDAQ Global Market under the symbol "WCAA."
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