Republic Services Announces Third Quarter Results

Wendy Angel

Fort Lauderdale -- Republic Services has reported a net income of $62.5 million on total revenue of $699.9 million for the third quarter of 2004, up almost 40 percent from its $44.7 million net income for the same period last year.

For the first nine months of the year, Republic had a net income of $180.3 million on revenues of $2.0204 billion, up from $159.7 million in income on $1.8799 billion in revenue for the same period last year.

The company’s board has also announced approval for up to $275 million in stock buybacks for the remainder of this year and 2005. This represents about 6 percent of outstanding stock at current prices.