Quite a Jump 7655

IESI-BFC Ltd.'s revenues increase by 63 percent in third quarter.

Stephen Ursery, Editor, Waste Age Magazine

November 1, 2010

1 Min Read
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Toronto-based IESI-BFC Ltd. posted a net income of $23.9 million on $436.3 million in revenue during the third quarter of 2010. During the same period in 2009, the firm posted a net income of $19.1 million on $268.4 million in revenue.

The nearly 63 percent increase in revenue stems in part from the firm's recent acquisition of Waste Services Inc. (WSI).

"The third quarter brought about a significant change to our company's operating and financial profile with our successful acquisition of WSI," said Keith Carrigan, vice chairman and CEO of IESI-BFC, in a statement. "We have been extremely pleased with the contributions from WSI's people and assets to our third quarter results, and we are even more confident than we were a quarter ago that we will realize the upper end of our expected synergies."

For the first nine months of 2010, IESI-BFC posted a net income of $60.5 million on $1 billion in revenue. During the same period in 2009, the firm posted a net income of $43.8 million on $746 million in revenue.

In other company financial news, Houston-based WCA Waste Corp. posted a net loss of $355,000 on $59.3 million in revenue during third-quarter 2010. During the same period in 2009, the firm posted a net loss of $250,000 on $49.5 million in revenue.

For the first nine months of this year, WCA Waste Corp. posted a net loss of $2 million on $171.9 million in revenue. During the same period in 2009, the firm posted a net loss of $969,000 on $147.9 million in revenue.

About the Author

Stephen Ursery

Editor, Waste Age Magazine, Waste360

Stephen Ursery is the editor of Waste Age magazine. During his time as editor, Waste Age has won more than 20 national and regional awards. He has worked for Penton Media since August 1999. Before joining Waste Age as the magazine's managing editor, he was an associate editor for American City & County and for National Real Estate Investor.

Prior to joining Penton, Stephen worked as a reporter for The Marietta Daily Journal and The Fulton County Daily Report, both of which are located in metro Atlanta.

Stephen earned a BA in History from Rhodes College in Memphis, Tenn.

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