Casella Waste Systems reports higher 1Q earnings

Casella Waste Systems Inc., a garbage collector and recycler, reported Wednesday that earnings edged upwards in its first quarter due to controls on operating costs.

For Casella's first fiscal quarter, the company posted net income of $2.2 million, or 8 cents per share, up from $1.7 million, or 7 cents per share, in the same period last year.

Revenue rose 6.3 percent to $157.9 million for the period ended July 31.

The company said its GreenFiber business, which markets housing insulation, has been hurt by a slowdown in home construction. Casella's sold waste group helped offset slowing growth in other divisions.

Chief Executive John Cassella said it was "a solid operational quarter, with our efforts to improve asset performance offsetting the negative headwinds from a sluggish Northeast economy and rapid increase in diesel prices."

Shares of Casella Waste fell 17 cents Wednesday to close at $13.11.