Contact:   James P. Zeumer
Senior Vice President, Public Affairs,
Communications and Investor Relations
    Q2 Earnings Increase to $0.25 Per Share, Including Net Charges of $0.02 Per Share*
    Strong Pricing Drives Revenue to Record $1.6 Billion
    Operating Income Climbs 10% as Margins Expand 140 Basis Points to 19.2%
    Company Expects to Achieve High End of Outlook Range For Full-Year Operating Income and Expects Free Cash Flow to Exceed $400 Million
Phoenix, AZ – July 30, 2008 – Allied Waste Industries, Inc. (NYSE: AW), the nation’s second largest waste services company, today reported financial results for its second quarter and six months ended June 30, 2008. For the quarter, income from continuing operations increased 22% to $111.4 million, or $0.25 per share, inclusive of net charges of $0.02 per share* primarily associated with merger-related costs. Prior year income from continuing operations was $91.0 million, or $0.21 per share. On an adjusted basis, 2008 second quarter earnings per share were $0.27*, an increase of 29% over prior earnings of $0.21 per share.
Total revenue for the second quarter was a record $1.58 billion, an increase of $35 million, or 2.2%, over $1.55 billion in the second quarter 2007. Higher revenue for the quarter benefited from a 6.9% increase in average price, of which 280 basis points were associated with the company’s fuel recovery fee, partially offset by a 4.8% decrease in volumes. Lower volumes for the quarter primarily reflect the impact of U.S. economic conditions.
We continue to perform well against our long-term strategies that drive profitable growth, margin expansion, strategic pricing and greater financial returns, while successfully adjusting our day-to-day operations to the economic conditions which have remained very challenging,” said John Zillmer, Chairman and Chief Executive Officer. “Our management and operating leadership appreciate that we are involved in an exciting merger opportunity with Republic Services, but we remain focused on achieving our 2008 financial goals and on driving greater efficiencies in every area of the business.”
Second quarter operating income before depreciation and amortization, loss from divestitures and asset impairments, or EBITDA, inclusive of $9.0 million of merger-related costs, increased 7.9% to $453.4 million, compared with $420.1 million last year. EBITDA as a percentage of revenue increased 160 basis points to 28.7%, or 29.3% excluding merger-related costs, compared with 27.1% for the same period last year. For the quarter, operating costs as a percentage of revenue dropped 90 basis points as the Company benefited from ongoing initiatives to lower expenses and drive greater efficiencies throughout its operations. Operating costs in the second quarter also benefited from savings associated with the Company’s improved safety and claims experience, and from a favorable resolution of an environmental matter. EBITDA margins for the quarter also benefited from Company actions to control SG&A expenses, which decreased $15.7 million from the prior year, and declined as a percentage of revenue to 9.3% from 10.6% last year.
“Our ability to maintain strong pricing and to control costs in response to a slowing economy has been critical to sustaining Allied’s excellent operating and financial results,” said Don Slager, President and Chief Operating Officer. “Even after adjusting for significantly higher fuel costs, which were essentially offset through our fuel recovery fee, we were able to lower operating expenses as a percentage of revenue by 90 basis points and SG&A spending by an additional 130 basis points. These are important achievements and attest to the focus with which our managers are operating the business.”
Cash flow from operations in the second quarter 2008 was $317.4 million, compared with $373.0 million in the comparable quarter last year, as higher operating income was offset primarily by increases in working capital. Free cash flow* for the second quarter was $112.6 million, compared with prior year free cash flow of $234.4 million reflecting lower cash flow from operations and the timing of capital expenditures which


The following information was filed by Allied Waste Industries Inc on Wednesday, July 30, 2008 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.

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