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updated 11:15, Tue November 06, 2007

Republic Services 3rd-Quarter Profit Falls on Environmental Compliance Costs

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FORT LAUDERDALE, Fla. (AP) -- Waste management company Republic Services Inc., said Monday its third-quarter profit dropped 13 percent hurt by charges related to remediation landfills in Ohio and California.

Net income was $67 million or 35 cents a share, down from $77.3 million, or 39 cents a share in the year-ago period. Results in the latest quarter include charges totaling $20.3 million, or 11 cents per share, to comply with an Ohio ruling on environmental conditions at a disposal facility in East Sparta, Ohio and for disposal and upgrade costs related to a facility in Contra Costa County, California.

Revenue increased 2 percent to $806.2 million from $787.1 million.

Analysts, on average, were expecting earnings or 43 cents a share on revenue of $819.2 million. Wall Street estimates typically exclude one-time charges.

Shares dropped 4 cents to close at $33.80. They recently rose 19 cents to $33.99 in after-hours trading.

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