Date: April 27, 2006
Source: PR Newswire
Republic Services, Inc. (NYSE: RSG) today reported that revenue for the three months ended March 31, 2006 increased 8.9 percent to $737.5 million compared to $677.2 million for the same period in 2005. The Company's internal growth during that period was 9.4%, with 4.3% from price and 5.1% from volume. Net income for the three months ended March 31, 2006 was $64.6 million, or $0.46 per diluted share, compared to $65.5 million, or $0.43 per diluted share last year. Operating income for the three months ended March 31, 2006 was $122.4 million compared to $119.5 million for the same period last year.
Commenting on these results, James E. O'Connor, Chairman & Chief Executive Officer of Republic Services, Inc., said, "We experienced a solid first quarter thanks to a strong economy which contributed to strong internal growth for the Company. Additionally, our field organization did a fine job managing costs and implementing our broad-based pricing initiative. Throughout the year, pricing will remain a primary focus as we continue to work to recover higher costs and improve returns on existing assets."
Company Declares Quarterly DividendRepublic announced that its Board of Directors declared a regular quarterly dividend of $0.14 per share for shareholders of record on July 3, 2006. The dividend will be paid on July 17, 2006.
Republic Services, Inc. is a leading provider of solid waste collection, transfer and disposal services in the United States. The Company's operating units are focused on providing solid waste services for commercial, industrial, municipal and residential customers.
More information: www.republicservices.com.