UNITED STATES
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): May 13,
2004
Capital Environmental Resource Inc.
(Exact name of registrant as specified in its charter)
Ontario, Canada 000-25955 Not Applicable
___________________ _____________ _____________________
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1122 International Blvd., Suite 601
Burlington, Ontario L7L 6Z8
___________________________________ _____________________
(Address of principal executive (Zip Code)
officers)
Registrants' telephone number, including area code:
(905)319-1237
1005 Skyview Drive, Suite 201, Burlington, Ontario L7P 5B1
____________________________________________________________
(Former name or former address, if changed since last
report.)
____________________________________________________________
Item 7. Financial Statements and Exhibits
(c) Exhibit 99.1 Press Release issued May 13, 2004.
Item 12. Disclosure of Results of Operations and Financial
condition
Capital Environmental Resource Inc. ("Capital", "we", "us"
or "our") issued a press release on May 13, 2004 announcing
our results of operations for the quarter ended March 31,
2004. A copy of that release is furnished as Exhibit 99.1.
In our press release, we presented information on our
operating income before depreciation, depletion and
amortization for the quarter and on an annualized pro forma
basis. Operating income before depreciation, depletion and
amortization (on an actual and pro forma basis) is a "non-
GAAP" financial measure under Regulation G. The components
of operating income before depreciation, depletion and
amortization are computed by using amounts that are
determined in accordance with GAAP. As part of our press
release we provided a reconciliation of operating income
before depreciation, depletion and amortization for the
first quarter 2004 to income from operations for the same
period, which is its nearest comparable GAAP financial
measure. The reconciliation consists of adding
depreciation, depletion and amortization to income from
operations.
Operating income before depreciation, depletion and
amortization (on an actual and pro forma basis) is presented
because we believe that it may be used by certain investors
to analyze and compare our operating performance between
accounting periods and against the operating results of
other companies that have different financing and capital
structures or tax rates. In addition, management uses
operating income before depreciation, depletion and
amortization, among other things, as an internal performance
measure. Our lenders also use operating income before
depreciation, depletion and amortization and adjusted
operating income before depreciation, depletion and
amortization to measure our ability to service and/or incur
additional indebtedness under our credit facility. However,
operating income before depreciation, depletion and
amortization should not be considered in isolation or as a
substitute for net income, cash flows or other financial
statement data prepared in accordance with U.S. GAAP or as a
measure of a company's performance, profitability or
liquidity. Operating income before depreciation, depletion
and amortization is not calculated under U.S. GAAP and
therefore is not necessarily comparable to similarly titled
measures of other companies.
SIGNATURE
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, thereunto duly
authorized.
CAPITAL ENVIRONMENTAL RESOURCE INC.
By: /s/Ivan R. Cairns
______________________________________
Ivan R. Cairns
Executive Vice President,
General Counsel
& Secretary
Date: May 13, 2004