Allied Waste reports 24 percent profit increase

Scottsdale, Ariz.-based Allied Waste Industries on Wednesday released third quarter 2006 financial results indicating a significant rise in quarterly profits. Net income for the period climbed to $72.3 million, or 17 cents a share, up from $58.4 million, or 13 cents a share, a year ago. Quarterly revenue rose to $1.56 billion from $1.48 billion a year ago.

The company attributed the jump in quarterly income to higher prices for its garbage hauling services.