Profit steady for Vegas garbage company

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Thursday, July 29, 2004 | 10:49 a.m.

FORT LAUDERDALE, Fla. -- Republic Services Inc., the third-largest U.S. trash hauler and the monopoly garbage company in Las Vegas, Wednesday said second-quarter profit was little changed as the cost of running its fleet of 5,500 vehicles and other expenses blunted growth in revenue.

Net income rose to $60.9 million, or 39 cents a share, from $60.4 million, or 37 cents, a year earlier, Fort Lauderdale-based Republic said in a statement. The earnings matched the mean estimate of 11 analysts surveyed by Thomson Financial.

Revenue climbed 7.2 percent to $683.2 million while expenses, including depreciation and operating costs, rose 8.2 percent to $567 million.