SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 28, 2000
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WASTE INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
North Carolina
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(State or other jurisdiction of incorporation)
0-22417 56-0954929
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(Commission file Number) (IRS Employer ID Number)
3301 Benson Drive, Suite 601, Raleigh, North Carolina 27609
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (919) 325-3000
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3949 Browning Place, Raleigh, North Carolina 27609
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(Former name or former address, if changed since last report)
Item 5. Other Events.
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On September 28, 2000, the Registrant issued a press release stating as
follows:
Waste Industries, Inc. Pre-Announces Lower than Expected 3rd Quarter Earnings
Raleigh, N.C., September 28, 2000 /PRNewswire/ -- Waste Industries, Inc.
(NASDAQ: WWIN), a regional, non-hazardous solid waste services company, today
pre-announced that third quarter earnings per share are expected to be
approximately $0.13 to $0.14, as a result of higher than expected operating
costs, and higher than expected selling, general and administrative expenses.
"Cost of Operations increases were driven by higher labor costs, higher fuel
prices and increased SG&A expenses associated with attracting and retaining the
labor force throughout the Company. Unfortunately, we were unable to increase
revenues enough to cover these higher costs," said Lonnie C. Poole, Jr.,
Chairman and CEO.
Mr. Poole added, "We will be evaluating our operations over the next several
months for ways to achieve efficiencies, control expenses and increase revenue."
The Company has scheduled a conference call for Friday, September 29, 2000 at
9:00 am EST. The conference call number is (800) 946-0785 with a confirmation
code of 951488. The call is available for replay by calling (888) 203-1112.
The Company expects to release 3rd quarter earnings on Wednesday, November 1,
2000 after the market close with the quarterly conference call to follow on
Thursday, November 2, 2000 at 2:00 pm EST. The call number will follow at a
later date.
Waste Industries, Inc. is a vertically integrated solid waste services company
that provides collection, transfer, disposal and recycling services to
commercial, industrial and residential customer locations in the states of North
Carolina, South Carolina, Virginia, Tennessee, Mississippi, Alabama, Georgia and
Florida.
Certain parts of this press release are "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because the statement will
include words such as the Company "expects," "believes," "anticipates" or words
of similar import. Similarly, statements that describe the Company's future
plans, objectives or goals are also forward-looking statements. Forward-looking
statements are subject to risks and uncertainties, such as acquisition risks,
difficulties in managing rapid growth, and weather conditions, that could cause
actual results to differ materially from those currently anticipated. Consider
these factors carefully in evaluating the forward-looking statements. Additional
information concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is contained from time
to time in the Company's SEC filings. The forward-looking statements made herein
are only made as of the date of this press release and the Company undertakes no
obligation to publicly update such forward-looking statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WASTE INDUSTRIES, INC.
Date: September 28, 2000 /s/Stephen C. Shaw
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Stephen C. Shaw
Chief Financial Officer
(Principal Financial Officer)