Phoenix-based Republic Services posted a net income of $506.5 million in 2010, while taking in $8.11 billion in revenue. In 2009, the firm posted a net income of $495 million on $8.20 billion in revenue.

“In 2010, Republic Services exceeded our original financial goals and continued to expand margins,” said Donald W. Slager, president and CEO of Republic Services, in a statement. “Our strong, sustainable cash flows allowed us to pay off approximately $400 million of debt, increase our dividend and initiate a $400 million stock repurchase program.”

For the fourth quarter of 2010, Republic Services posted a net income of $147.6 million and took in $2.02 billion in revenue. During the same period in 2009, the firm posted a net income of $35.6 million on $2 billion in revenue.