National Waste Management Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
May 16, 2016 at 08:30 am EDT
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National Waste Management Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net cash provided by operating activities of $316,240 against $151,998 a year ago. Purchases of property and equipment were $51,389. Revenue was $1.6 million versus $390,592 for the quarter ended March 31, 2015. The increase in revenue was due to the acquisitions of Waste Recovery Enterprises and Gateway Rolloff during the fourth quarter of 2015 and the execution of its business model, increasing its customer base and expanded sales to current customers. Operating income was $44,014 versus operating income of $71,930 for the first quarter of 2015. Net loss was $41,206 or $0.001 earnings per share, versus net income of $38,374 or $0.001 earnings per share for the first quarter of 2015.
National Waste Management Holdings, Inc. through its subsidiaries provide a full-service solid waste management company. It is focused on five businesses related to waste removal and management, which includes landfill services, roll-off dumpster services, commercial and residential trash collection, transfer station operations, and paper shredding and data destruction. It specializes in construction and demolition landfill and roll-off services. It offers commercial and residential dumpster service and roll-off boxes for construction and cleanup projects specializing in the removal of debris, garbage, waste, hauling construction and demolition debris, focused on servicing general contractors, new home builders, reconstruction, renovation, landscaping, and home improvement professionals. It also provides grinding, demolition, mulch, and gravel services. Its subsidiaries include Sand/Land of Florida Enterprises, Inc., Waste Recovery Enterprises, LLC, and Gateway Rolloff Services, LP.