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Saturday, January 03, 2009 5:20:40 AM
* Cuts 2009 revenue outlook
Dec 3 (Reuters) - Waste management company Casella Waste Systems (CWST.O) posted second-quarter profit that missed analysts' estimates by a cent, hurt in part by the shutdown of one of its landfill facilities, and cut its fiscal 2009 revenue outlook.
For the quarter ended Oct. 31, the company's net income fell 27 percent to $2.1 million. Revenue rose 5 percent.
Casella said it had closed a landfill facility at Colebrook, creating a $1.1 million negative variance in Earnings Before Interest, Tax, Depreciation and Amortization compared with a year earlier.
The company cut its revenue outlook for fiscal 2009 to $580 million to $600 million, from $610 million to $628 million.
Casella also cut its capital expenditure to $65 million to $69 million, from $73 million to $77 million.
Shares of the Rutland, Vermont-based company closed at $4.57 Wednesday on Nasdaq.
For the alerts, please double click [ID:nWNAB9339]
For the press release, please double click [ID:nMKW57571a] (Reporting by Arup Roychoudhury in Bangalore; Editing by Amitha Rajan) (arup.roychoudhury@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arup.roychoudhury.reuters.com@reuters.net))
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