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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (26190)3/5/1999 4:32:00 AM
From: Jenna  Read Replies (2) of 120523
 
Allied Waste Announces 100% Increase in 1998 Fourth Quarter and
Full-Year Results

SCOTTSDALE, Ariz., March 5 /PRNewswire/ -- Allied Waste Industries, Inc. (NYSE: AW - news) today announced financial results for the fourth quarter and full
year ended December 31, 1998.

For the quarter ended December 31, 1998, pro forma net income increased 109% to $46.3 million, or $0.25 per diluted share, compared with pro forma net income
of approximately $22.2 million or $0.12 per diluted share in the comparable period in 1997. Revenues increased 14% to $407.1 million from $356.7 million in the
corresponding period in 1997. Pro forma operating income increased more than 68% to $100.7 million from $59.9 million, and pro forma EBITDA (earnings before
interest, taxes, depreciation and amortization) increased more than 41% to $145.0 million from $102.7 million in the corresponding period in 1997. The pro forma
results exclude after-tax charges of $144.7 million for acquisition related and unusual costs and asset impairments and after-tax charges of $121.7 million for
extraordinary items and include a pro forma effective tax rate of 40.5%. Reported results have been restated for acquisitions completed during the year accounted for
under the pooling-of-interests method of accounting.
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