Exhibit 99.1
     
Contact:
  James P. Zeumer
 
  Senior Vice President, Public Affairs,
 
  Communications and Investor Relations
 
  480-627-2785
FOR IMMEDIATE RELEASE
ALLIED WASTE REPORTS SECOND QUARTER 2007 RESULTS
Phoenix, AZ – August 2, 2007 – Allied Waste Industries, Inc. (NYSE: AW), a leading waste services company, today reported financial results for its second quarter ended June 30, 2007. Allied Waste highlighted the following information from its reported quarterly financial results:
  Ø   Second quarter 2007 diluted earnings from continuing operations of $0.21 per share, compared with prior year second quarter earnings of $0.07 per share inclusive of $0.06 per share of costs associated with debt refinancings
 
  Ø   Gross margin of 37.7%, up 190 basis points, driven by strong pricing and greater operating efficiency; operating income up 11% to $278 million
 
  Ø   Average price for the quarter up 6.0%, with price up across all lines of business; volume decrease of 3.3% related primarily to roll-off, construction and special waste business
 
  Ø   Free cash flow for the quarter up four-fold to $236 million
 
  Ø   During the quarter, ratings on Allied’s senior secured notes raised to ‘BB+’ by Standard & Poor’s and to ‘BB’ by Fitch
Revenue for the second quarter ended June 30, 2007, was $1.56 billion, an increase of $35.3 million, or 2.3%, from $1.52 billion in the second quarter 2006. The increase in revenue resulted from internal growth of 2.7%, comprised of a 6.0% increase in same store average unit price, including a 0.5% increase associated with a fuel recovery fee, partially offset by a 3.3% decrease in same-store volumes.
“Integrated into our long-term strategic plans are financial objectives that include driving more profitable revenue growth, expanding margins and improving returns on invested capital,” said John Zillmer, Chairman and Chief Executive Officer. “Allied’s second quarter results demonstrate continued progress toward achieving these goals and the success of key support initiatives focused on improving customer service, advancing our strategic pricing programs and expanding our portfolio of national account work.”
Operating income for the second quarter increased 10.8% to $278.1 million, compared with $251.0 million last year. Operating income as a percent of revenue increased 130 basis points to 17.8%, compared with 16.5% for the same period last year, as lower cost of operations and depreciation and amortization expenses were partially offset by higher SG&A expenses. Gross profit* for the quarter was $588.1 million, up $42.8 million, or 7.8%, over the comparable period last year. Gross profit as a percentage of revenue increased 190 basis points to 37.7%, reflecting the positive impact of higher prices in the period and productivity initiatives that helped to reduce operating costs by 0.8% to $972.1 million.
“Allied’s second quarter results show solid progress in our efforts to further optimize our operations and to permanently remove costs from our business,” said Donald Slager, President and Chief Operating Officer. “Ongoing programs to capture greater efficiency in areas such as fleet operations, route management, supply chain and landfill development continue to identify opportunities to lower Allied’s cost of operations.”
Second quarter 2007 income from continuing operations was $91.7 million, or $0.21 per share, including approximately a $.02 per share benefit from the favorable resolution on an income tax matter. Second quarter 2006 income from continuing operations was $36.5 million, or $0.07 per share, inclusive of $40.8 million, or $.06 per share, for fees and expenses associated with a debt refinancing completed during the period.

1


The following information was filed by Allied Waste Industries Inc on Thursday, August 2, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Allied Waste Industries Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Allied Waste Industries Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account