Casella Waste Systems, Inc. Announces First Quarter Fiscal Year 2011 Results

Casella Waste Systems, Inc. reported financial results for the first quarter of its 2011 fiscal year, that included growth in both revenue and operating income.

For the quarter ended July 31, 2010, we reported revenue of $139.8 million, up $7.3 million or 5.6 percent over the same quarter last year. Operating income was $14.5 million for the quarter, up $5.4 million from the same quarter last year, including a $3.5 million gain on divestitures. The gain on divestitures resulted from the sale of our Rochester, Massachusetts construction and demolition debris transfer station; our Cape Cod, Massachusetts transfer station; and our Cape Cod hauling assets and related equipment for consideration of $7.8 million on July 1, 2010. Our net loss applicable to common shareholders was ($2.9) million, or ($0.11) per common share in the quarter, compared to net loss of ($2.8) million, or ($0.11) per share for the same quarter last year.