Exhibit 99.1
Selected Financial Data
The following tables set forth our selected consolidated financial data for the periods indicated and are qualified by reference to, and should be read in conjunction with our Consolidated Financial Statements and the Notes thereto, which are included elsewhere in this filing, especially Notes 3 and 4 as they relate to our business combinations, significant asset acquisitions and dispositions, and “Management’s Discussion and Analysis of Financial Condition and Results of Operation,” which is also included elsewhere in this filing. The financial data as of December 31, 2007, 2006, 2005, 2004 and 2003 and for each of the years then ended have been derived from our Consolidated Financial Statements. The selected consolidated financial data as of December 31, 2007, 2006, 2005, 2004 and 2003 and for each of the years then ended have been prepared in accordance with accounting principles generally accepted in the United States.
For Each of the Years Ended December 31, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Statement of Operations and Cash Flow Data: | ||||||||||||||||||||
Revenue | $ | 461,447 | $ | 362,672 | $ | 327,163 | $ | 266,292 | $ | 124,985 | ||||||||||
Income (loss) from operations | 40,813 | 13,272 | 8,919 | 6,039 | (4,888 | ) | ||||||||||||||
Net loss from continuing operations | (14,303 | ) | (49,530 | ) | (51,596 | ) | (49,259 | ) | (22,740 | ) | ||||||||||
Net income (loss) from discontinued operations net of income tax provision of nil, $652, $852, $574 and nil for the years ended December 31, 2007, 2006, 2005, 2004 and 2003 respectively | 2,796 | 999 | 1,306 | 880 | (158 | ) | ||||||||||||||
Loss on sale of discontinued operations | (11,607 | ) | — | — | — | — | ||||||||||||||
Loss before cumulative effect of change in accounting principle | (23,114 | ) | (48,531 | ) | (50,290 | ) | (48,379 | ) | (22,898 | ) | ||||||||||
Cumulative effect of change in accounting principle | — | — | — | 225 | 518 | |||||||||||||||
Net loss | (23,114 | ) | (48,531 | ) | (50,290 | ) | (48,154 | ) | (22,380 | ) | ||||||||||
Net loss attributable to common shareholders | (23,114 | ) | (48,531 | ) | (50,290 | ) | (48,154 | ) | (76,952 | ) | ||||||||||
Loss per share, basic and diluted — continuing operations | (0.31 | ) | (1.40 | ) | (1.57 | ) | (1.67 | ) | (5.97 | ) | ||||||||||
Income (loss) per share, basic and diluted — discontinued operations | (0.19 | ) | 0.03 | 0.04 | 0.03 | (0.02 | ) | |||||||||||||
Basic and diluted loss per share before cumulative effect of change in accounting principle | (0.50 | ) | (1.37 | ) | (1.53 | ) | (1.64 | ) | (5.99 | ) | ||||||||||
Cumulative effect of change in accounting principle | — | — | — | 0.01 | 0.04 | |||||||||||||||
Loss per share — basic and diluted | $ | (0.50 | ) | $ | (1.37 | ) | $ | (1.53 | ) | $ | (1.63 | ) | $ | (5.95 | ) | |||||
Weighted average common shares outstanding - basic and diluted | 46,007 | 35,354 | 32,880 | 29,410 | 12,927 | |||||||||||||||
Cash flows from operating activities of continuing operations | $ | 54,677 | $ | 26,668 | $ | 14,372 | $ | 24,240 | $ | 10,024 | ||||||||||
Capital expenditures for continuing operations | 57,557 | 39,747 | 25,455 | 24,673 | 22,106 | |||||||||||||||
Average exchange rate C$ to US$ | $ | 0.9303 | $ | 0.8817 | $ | 0.8255 | $ | 0.7699 | $ | 0.7160 |
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As of December 31, | ||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Balance Sheet Data: | ||||||||||||||||||||
Cash and cash equivalents | $ | 20,706 | $ | 8,532 | $ | 8,885 | $ | 8,473 | $ | 21,048 | ||||||||||
Property, equipment and landfill sites, net | 383,049 | 322,574 | 219,202 | 220,708 | 177,487 | |||||||||||||||
Goodwill and other intangible assets, net | 397,766 | 323,939 | 281,287 | 278,869 | 154,190 | |||||||||||||||
Total assets | 938,488 | 865,063 | 728,389 | 720,583 | 470,998 | |||||||||||||||
Total debt and capital lease obligations (exclusive of cumulative mandatorily redeemable Preferred Stock) | 445,539 | 410,353 | 286,669 | 278,363 | 177,449 | |||||||||||||||
Cumulative mandatorily redeemable Preferred Stock | — | — | 84,971 | 64,971 | 48,205 | |||||||||||||||
Total shareholders’ equity | $ | 350,595 | $ | 339,357 | $ | 264,491 | $ | 298,776 | $ | 201,117 | ||||||||||
Year end exchange rate C$ to US$ | $ | 1.0088 | $ | 0.8581 | $ | 0.8598 | $ | 0.8319 | $ | 0.7713 |
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