Waste Services Reports Fourth-Quarter Earnings

Waste Services, Burlington, Ontario, has reported a net loss of $10.5 million on revenues of $102.4 million for fourth-quarter 2008, compared to a net loss of $12 million on revenues of $123.3 million for the same quarter in 2007.

For the year, the Canadian hauler reports a net income of $9.6 million on revenues of $473 million, both increases from a net loss $23 million on revenues of $4612 million in 2007.

"We are pleased to report our results for the fourth quarter and the 2008 fiscal year,” said David Sutherland-Yoest, president and CEO of Waste Services, in a press release. “We achieved our previously provided guidance for adjusted EBITDA and earnings per share for 2008, and we have taken several steps that we feel will protect the company from further economic headwinds of today's business environment.”