Capital Environmental Reports Year-End Results

Date: April 3, 2003

Source: News Room

Capital Environmental Resource Inc. (Nasdaq: CERI) has reported financial results for its year ended December 31, 2002. For the year, net income was $2.1 million, compared to a net loss of $19.7 for the comparable period in 2001. Revenue for 2002 increased 6.0% to $98.8 million from $93.2 million last year. EBITDA for 2002 increased 37.2% to $20.3 million, or 20.5% of revenue, from adjusted EBITDA of $14.8 million or 15.9% of revenue for 2001. Operating income for 2002 was $9.6 million or 9.7% of revenue compared to a loss of $8.7 million for the comparable period last year.
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