April 27, 2010 / 10:34 PM / in 7 years

UPDATE 1-IESI-BFC posts higher Q1 profit

* Q1 EPS $0.18 vs $0.14/shr, yr ago

* Revenue up 18 pct to $264 mln

April 27 (Reuters) - Canadian waste management company IESI-BFC Ltd BIN.TO posted higher first-quarter earnings, helped partly by a rise in recycled commodity prices.

For the quarter ended March 31, the company earned $16.7 million, or 18 cents per share, compared with $9.6 million, or 14 cents a share, a year ago.

Adjusted net income was 20 cents per share.

Revenue rose 18 percent to $264 million.

The company said it remained focused on closing its acquisition of Waste Services Inc WSII.O, which it had announced in November. [ID:nN11358687]

“This transaction, when complete, will position us as North America’s third largest solid waste management company,” said Keith Carrigan, chief executive of IESI-BFC.

For Waste Services’ first-quarter results, please double click on [ID:nASA009T9] (Reporting by Abhiram Nandakumar in Bangalore; Editing by Aradhana Aravindan)

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