SOURCE: Casella Waste Systems, Inc

Casella Waste Systems, Inc

August 29, 2012 16:30 ET

Casella Waste Systems, Inc. Announces First Quarter Fiscal Year 2013 Results

RUTLAND, VT--(Marketwire - Aug 29, 2012) -  Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, today reported financial results for its first quarter fiscal year 2013. 

Highlights for the quarter included:

  • Pricing growth of 1.0 percent in the collection line-of-business; 13 consecutive quarters of positive collection pricing growth.
  • Robust volume growth of 4.4 percent in the recycling line-of-business driven by continued adoption of Zero-Sort® Recycling.

For the quarter ended July 31, 2012, revenues were $121.2 million, down $6.0 million or 4.7 percent from the same quarter last year, with positive collection pricing more than offset by lower solid waste volumes and lower recycling commodity prices. 

The company's net loss attributable to common shareholders was ($8.4) million, or ($0.31) per common share for the quarter, compared to net loss of ($3.1) million, or ($0.12) per share for the same quarter last year. 

Operating income was $5.8 million for the quarter, down $4.5 million from the same quarter last year. The current quarter includes a $0.6 million expense related to the pending sale of the Maine Energy Recovery Company and certain financing costs. The quarter ended July 31, 2011 included a $1.0 million legal settlement charge. Adjusted EBITDA* was $24.3 million for the quarter, down $4.4 million from same quarter last year.

"During our first quarter recycling commodity prices weakened and we continued to experience declines in special waste volumes at our western New York landfills mainly due to decreased Marcellus Shale drilling activity," said John W. Casella, chairman and CEO of Casella Waste Systems. "Despite these headwinds, I believe that we are executing well against factors that we can control in this challenging economic environment, such as:

  • "As announced on August 10, we took a number of steps to realign our operations to streamline support functions and to eliminate approximately $6.5 million of annualized costs. We expect these permanent cost savings to partially offset the cyclical revenue declines from lower recycling commodity pricing and lower landfill special waste volumes. Further, these steps position us well to leverage a lower cost structure as cyclical revenues return in the future.

  • "In early August we signed a purchase and sale agreement to sell our waste-to-energy facility to the City of Biddeford, ME. We are expecting to complete the sale by December 2012. 

  • "Despite a stagnant economy, we have grown our residential and commercial customer counts year-over year, 6 percent and 1 percent, respectively, and have delivered positive pricing gains in each segment. We attribute this to our strategy of offering differentiated resource solutions that allow us to stand out in our markets as a service provider that creates value for our customers.

"Weakness in the roll-off collection line-of-business offset much of gains we had in the residential and commercial lines-of-business," Casella said. "The roll-off line-of-business was down in the quarter due to: pull forward of work into our fourth quarter with the early spring in the northeast, continued pressure on roll-off work because of depressed construction activity, and a tough comparison to the first quarter last year when we saw increased demand from flooding activity."

"Nevertheless, we've reduced costs and realigned the way we operate, making us more efficient and more customer service-oriented, and putting us in a great position to prosper when economic conditions improve," Casella said.

The company reaffirms guidance issued on August 10, 2012 for its fiscal year 2013, which began May 1, 2012, by estimating results in the following ranges:

  • Revenues between $475.0 million and $485.0 million;
  • Adjusted EBITDA* between $101.0 million and $105.0 million;

The above guidance does not include the financial impacts from the potential sale of Maine Energy or the potential refinancing of the 11.0 percent $180.0 million second lien notes due July 2014 during fiscal year 2013.

*Non-GAAP Financial Measures
In addition to disclosing financial results prepared in accordance with Generally Accepted Accounting Principles in the United States (GAAP), the company also discloses earnings before interest, taxes, depreciation and amortization, adjusted for accretion, depletion of landfill operating lease obligations, gain on sale of assets, development project charge write-offs, legal settlement charges, bargain purchase gains, asset impairment charges, environmental remediation charges, as well as severance and reorganization charges (Adjusted EBITDA) which is a non-GAAP measure. The company also discloses earnings before interest, taxes, adjusted for gain on sale of assets, development project charge write-off, legal settlement charges, bargain purchase gains, asset impairment charges, environmental remediation charges, as well as severance and reorganization charges (Adjusted Operating Income) which is a non-GAAP measure. The company also discloses Free Cash Flow, which is defined as net cash provided by operating activities, less capital expenditures attributable to growth and maintenance (excluding acquisition related capital), less payments on landfill operating leases, less assets acquired through financing leases, plus proceeds from the sale of property and equipment, plus contributions from non-controlling interest holder, which is a non-GAAP measure. Adjusted EBITDA is reconciled to net income (loss), while Free Cash Flow is reconciled to net cash provided by operating activities.

The company presents Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow because it considers them important supplemental measures of its performance and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of the company's results. Management uses these non-GAAP measures to further understand the company's "core operating performance." The company believes its "core operating performance" represents its on-going performance in the ordinary course of operations. The company believes that providing Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow to investors, in addition to corresponding income statement and cash flow statement measures, affords investors the benefit of viewing its performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations may look in the future. The company further believes that providing this information allows its investors greater transparency and a better understanding of its core financial performance. In addition, the instruments governing the company's indebtedness use EBITDA (with additional adjustments) to measure its compliance with covenants such as interest coverage, leverage and debt incurrence.

Non-GAAP financial measures are not in accordance with or an alternative for GAAP. Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow should not be considered in isolation from or as a substitute for financial information presented in accordance with GAAP, and may be different from Adjusted EBITDA, Adjusted Operating Income, or Free Cash Flow presented by other companies.

About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States. For further information, investors contact Ned Coletta, vice president of finance and investor relations at (802) 772-2239, media contact Joseph Fusco, vice president at (802) 772-2247, or visit the company's website at http://www.casella.com.

Conference call to discuss quarter
The Company will host a conference call to discuss these results on Thursday, August 30, 2012 at 10:00 a.m. ET. Individuals interested in participating in the call should dial (877) 548-9590 or for international participants (914) 495-8541 at least 10 minutes before start time. The call will also be webcast; to listen, participants should visit Casella Waste Systems' website at http://ir.casella.com and follow the appropriate link to the webcast. A replay of the call will be available on the company's website, or by calling (855) 859-2056 or (404) 537-3406 (Conference ID 21047750) until 11:59 p.m. ET on Thursday, September 6, 2012. 

Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as "believe," "expect," "anticipate," "plan," "may," "will," "would," "intend," "estimate," "guidance" and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's beliefs and assumptions. We cannot guarantee that we actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in our forward-looking statements. Such risks and uncertainties include or relate to, among other things: current economic conditions that have adversely affected and may continue to adversely affect our revenues and our operating margin; we may be unable to reduce costs or increase pricing or volumes sufficiently to achieve estimated Adjusted EBITDA and other targets; landfill operations and permit status may be affected by factors outside our control; we may be required to incur capital expenditures in excess of our estimates; fluctuations in energy pricing or the commodity pricing of our recyclables may make it more difficult for us to predict our results of operations or meet our estimates; we may incur environmental charges or asset impairments in the future; and we may be unable to sell our waste-to-energy facility and shift waste volumes to other landfill sites. There are a number of other important risks and uncertainties that could cause our actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A, "Risk Factors" in our Form 10-K for the year ended April 30, 2012.

We undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

   
   
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES  
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  
(Unaudited)  
(In thousands, except amounts per share)  
             
    Three Months Ended  
    July 31,     July 31,  
    2012     2011  
                 
Revenues   $ 121,195     $ 127,193  
                 
Operating expenses:                
  Cost of operations     84,811       85,224  
  General and administration     15,324       16,207  
  Depreciation and amortization     14,756       14,506  
  Expense from divestiture and financing costs     553       -  
  Legal settlement     -       1,000  
      115,444       116,937  
                 
Operating income     5,751       10,256  
                 
  Other expense/(income), net:                
  Interest expense, net     11,844       11,151  
  Loss from equity method investment     1,766       2,257  
  Other income     (130 )     (105 )
      13,480       13,303  
                 
Loss from continuing operations before income taxes and discontinued operations     (7,729 )     (3,047 )
Provision for income taxes     650       661  
                 
Loss from continuing operations before discontinued operations     (8,379 )     (3,708 )
                 
Discontinued operations:                
  Gain on disposal of discontinued operations, net of income taxes (1)     -       646  
                 
Net loss     (8,379 )     (3,062 )
                 
  Less: Net loss attributable to noncontrolling interest     (8 )     -  
                 
Net loss attributable to common stockholders   $ (8,371 )   $ (3,062 )
                 
Common stock and common stock equivalent shares outstanding, assuming full dilution     26,992       26,564  
                 
Net loss per common share   $ (0.31 )   $ (0.12 )
                 
Adjusted EBITDA (2)   $ 24,315     $ 28,661  
                 
                 
                 
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
         
    July 31,   April 30,
ASSETS   2012   2012
             
CURRENT ASSETS:            
  Cash and cash equivalents   $ 3,505   $ 4,534
  Restricted cash     76     76
  Accounts receivable - trade, net of allowance for doubtful accounts     53,432     47,472
  Other current assets     15,539     15,274
Total current assets     72,552     67,356
             
Property, plant and equipment, net of accumulated depreciation     422,096     416,717
Goodwill     102,516     101,706
Intangible assets, net     3,487     2,970
Restricted assets     419     424
Notes receivable - related party/employee     723     722
Investments in unconsolidated entities     21,234     22,781
Other non-current assets     20,247     21,067
             
Total assets   $ 643,274   $ 633,743
             
LIABILITIES AND STOCKHOLDERS' EQUITY            
             
CURRENT LIABILITIES:            
  Current maturities of long-term debt and capital leases   $ 1,232   $ 1,228
  Current maturities of financing lease obligations     344     338
  Accounts payable     48,729     46,709
  Other accrued liabilities     39,987     40,060
Total current liabilities     90,292     88,335
             
Long-term debt and capital leases, less current maturities     487,501     473,381
Financing lease obligations, less current maturities     1,729     1,818
Other long-term liabilities     54,196     51,978
             
Total stockholders' equity     9,556     18,231
             
Total liabilities and stockholders' equity   $ 643,274   $ 633,743
             
 
 
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES  
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  
(Unaudited)  
(In thousands)  
             
    Three Months Ended  
    July 31,     July 31,  
    2012     2011  
Cash Flows from Operating Activities:                
Net loss   $ (8,379 )   $ (3,062 )
Gain on disposal of discontinued operations, net     -       (646 )
Adjustments to reconcile net loss to net cash provided by operating activities -                
  Gain on sale of equipment     (46 )     (192 )
  Depreciation and amortization     14,756       14,506  
  Depletion of landfill operating lease obligations     2,288       2,030  
  Interest accretion on landfill and environmental remediation liabilities     933       869  
  Amortization of discount on second lien notes     259       230  
  Loss from equity method investment     1,766       2,257  
  Stock-based compensation     675       649  
  Excess tax benefit on the vesting of share based awards     (205 )     (246 )
  Deferred income taxes     565       939  
  Changes in assets and liabilities, net of effects of acquisitions and divestitures     (5,091 )     (3,394 )
    Net Cash Provided by Operating Activities     7,521       13,940  
Cash Flows from Investing Activities:                
  Acquisitions, net of cash acquired     (3,150 )     (715 )
  Additions to property, plant and equipment                
    - acquisitions     (288 )     -  
    - growth     (2,002 )     (1,143 )
    - maintenance     (14,394 )     (13,725 )
  Payment for capital related to divestiture     (618 )     -  
  Payments on landfill operating lease contracts     (1,814 )     (1,858 )
  Proceeds from sale of property and equipment     265       199  
  Investments in unconsolidated entities     (1,000 )     (650 )
    Net Cash Used In Investing Activities     (23,001 )     (17,892 )
Cash Flows from Financing Activities:                
  Proceeds from long-term borrowings     62,310       48,500  
  Principal payments on long-term debt     (48,689 )     (44,439 )
  Payment of financing costs     (96 )     (90 )
  Proceeds from exercise of share based awards     -       176  
  Excess tax benefit on the vesting of restricted stock     205       246  
  Contributions from noncontrolling interest holder     721       -  
    Net Cash Provided By Financing Activities     14,451       4,393  
    Net Cash Provided By Discontinued Operations     -       646  
Net (decrease) increase in cash and cash equivalents     (1,029 )     1,087  
Cash and cash equivalents, beginning of period     4,534       1,817  
Cash and cash equivalents, end of period   $ 3,505     $ 2,904  
Supplemental Disclosures:                
Cash interest   $ 11,391     $ 11,189  
Cash income taxes, net of refunds   $ (26 )   $ 2,159  
                 
                 
                 
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
(In thousands)

Note 1:     Discontinued Operations                           

On January 23, 2011, we entered into a purchase and sale agreement and related agreements to sell non-integrated recycling assets and select intellectual property assets to a new company (the "Purchaser") formed by Pegasus Capital Advisors, L.P. and Intersection LLC for $130,400 in gross proceeds. Pursuant to these agreements, we divested non-integrated recycling assets located outside our core operating regions of New York, Massachusetts, Vermont, New Hampshire, Maine and northern Pennsylvania, including 17 material recovery facilities ("MRFs"), one transfer station and certain related intellectual property assets. Following the transaction, we retained four integrated MRFs located in our core operating regions. As a part of the disposition, we also entered into a ten-year commodities marketing agreement with the Purchaser to market 100% of the tonnage from three of our remaining integrated MRFs.               

We completed the transaction on March 1, 2011 for $134,195 in gross cash proceeds. This included an estimated $3,795 working capital and other purchase price adjustment, which was subject to further adjustment, as defined in the purchase and sale agreement. The final working capital adjustment, along with additional legal expenses related to the transaction, of $646 was recorded to gain on disposal of discontinued operations, net of income taxes in the three months ended July 31, 2011.                                      

Note 2:     Non - GAAP Financial Measures                               

In addition to disclosing financial results prepared in accordance with Generally Accepted Accounting Principles in the United States (GAAP), we also disclose earnings before interest, taxes, depreciation and amortization, adjusted for accretion, depletion of landfill operating lease obligations, gain on sale of assets, development project charge write-offs, legal settlement charges, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization charges, as well as expenses from divestiture and financing costs (Adjusted EBITDA) which is a non-GAAP measure. We also disclose earnings before interest, taxes, adjusted for gain on sale of assets, development project charge write-offs, legal settlement charges, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization charges, as well as expenses from divestiture and financing costs (Adjusted Operating Income) which is a non-GAAP measure. We also disclose Free Cash Flow, which is defined as net cash provided by operating activities, less capital expenditures attributable to growth and maintenance (excluding acquisition related capital), less payments on landfill operating leases, less assets acquired through financing leases, plus proceeds from the sale of property and equipment, plus contributions from non-controlling interest holder, which is a non-GAAP measure. Adjusted EBITDA is reconciled to net income (loss), while Free Cash Flow is reconciled to net cash provided by operating activities.               

We present Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow because we consider them important supplemental measures of our performance and believe they are frequently used by securities analysts, investors and other interested parties in the evaluation of our results. We use these non-GAAP measures to further understand our "core operating performance." We believe our "core operating performance" represents our on-going performance in the ordinary course of operations. We believe that providing Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow to investors, in addition to corresponding income statement and cash flow statement measures, affords investors the benefit of viewing our performance using the same financial metrics that our management team uses in making many key decisions and understanding how the core business and our results of operations may look in the future. We further believe that providing this information allows our investors greater transparency and a better understanding of our core financial performance. In addition, the instruments governing our indebtedness use EBITDA (with additional adjustments) to measure our compliance with covenants such as interest coverage, leverage and debt incurrence.            

Non-GAAP financial measures are not in accordance with or an alternative for GAAP. Adjusted EBITDA, Adjusted Operating Income, and Free Cash Flow should not be considered in isolation from or as a substitute for financial information presented in accordance with GAAP, and may be different from Adjusted EBITDA, Adjusted Operating Income, or Free Cash Flow presented by other companies.    

             
Following is a reconciliation of Adjusted EBITDA and Adjusted Operating Income to Net Loss:  
             
    Three Months Ended  
    July 31,     July 31,  
    2012     2011  
                 
Net Loss   $ (8,379 )   $ (3,062 )
  Gain on disposal of discontinued operations, net     -       (646 )
  Provision for income taxes     650       661  
  Other expense, net     1,636       2,152  
  Interest expense, net     11,844       11,151  
  Legal settlement     -       1,000  
  Expense from divestiture and financing costs     553       -  
  Depreciation and amortization     14,756       14,506  
  Severance and reorganization charges     34       -  
  Depletion of landfill operating lease obligations     2,288       2,030  
  Interest accretion on landfill and environmental remediation liabilities     933       869  
Adjusted EBITDA (2)   $ 24,315     $ 28,661  
  Depreciation and amortization     (14,756 )     (14,506 )
  Depletion of landfill operating lease obligations     (2,288 )     (2,030 )
  Interest accretion on landfill and environmental remediation liabilities     (933 )     (869 )
Adjusted Operating Income (2)   $ 6,338     $ 11,256  
                 
Following is a reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities:                
    Three Months Ended  
    July 31,     July 31,  
    2012     2011  
Net Cash Provided by Operating Activities   $ 7,521     $ 13,940  
Capital expenditures - growth and maintenance     (16,396 )     (14,868 )
Payments on landfill operating lease contracts     (1,814 )     (1,858 )
Proceeds from sale of property and equipment     265       199  
Contributions from noncontrolling interest holder     721       -  
Free Cash Flow (2)   $ (9,703 )   $ (2,587 )
                 
                 
                 
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES  
SUPPLEMENTAL DATA TABLES  
(Unaudited)  
(In thousands)  
                     
Amounts of our total revenues attributable to services provided for the three months ended July 31, 2012 and 2011 are as follows:  
                     
    Three Months Ended July 31,  
    2012   % of Total Revenue     2011   % of Total Revenue  
Collection   $ 53,043   43.8 %   $ 53,626   42.2 %
Disposal     30,967   25.5 %     32,173   25.3 %
Power generation     2,663   2.2 %     3,042   2.4 %
Processing and organics     14,633   12.1 %     14,738   11.6 %
  Solid waste operations     101,306   83.6 %     103,579   81.5 %
Major accounts     9,524   7.9 %     10,711   8.4 %
Recycling     10,365   8.5 %     12,903   10.1 %
Total revenues   $ 121,195   100.0 %   $ 127,193   100.0 %
                         
                         
                         
Components of revenue growth for the three months ended July 31, 2012 compared to the three months ended July 31, 2011 are as follows:  
   
    Amount     % of Related Business     % of Solid Waste Operations     % of Total Company  
Solid Waste Operations:                          
Collection   $ 541     1.0 %   0.5 %   0.4 %
Disposal     (375 )   -1.2 %   -0.3 %   -0.3 %
Solid Waste Yield     166           0.2 %   0.1 %
                           
Collection     (1,799 )         -1.7 %   -1.4 %
Disposal     (890 )         -0.9 %   -0.7 %
Processing and organics     37           0.0 %   0.0 %
Solid Waste Volume     (2,652 )         -2.6 %   -2.1 %
                           
Fuel surcharge     (174 )         -0.2 %   -0.1 %
Commodity price & volume     (693 )         -0.7 %   -0.5 %
Acquisitions     1,096           1.1 %   0.8 %
Closed landfill     (16 )         0.0 %   0.0 %
Total Solid Waste     (2,273 )         -2.2 %   -1.8 %
                           
Major Accounts     (1,187 )               -0.9 %
                           
Recycling Operations:               % of Recycling Operations        
Commodity price     (3,101 )         -24.0 %   -2.4 %
Commodity volume     563           4.4 %   0.4 %
Total Recycling     (2,538 )         -19.6 %   -2.0 %
                           
Total Company   $ (5,998 )               -4.7 %
                           
Solid Waste Internalization Rates by Region:                          
                         
    Three Months Ended July 31,              
    2012     2011              
Eastern region     53.8 %   54.1 %            
Western region     72.5 %   76.1 %            
Solid waste internalization     63.9 %   65.6 %            
                           
                           
   
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES  
SUPPLEMENTAL DATA TABLES  
(Unaudited)  
(In thousands)  
             
GreenFiber Financial Statistics (1):            
             
    Three Months Ended
July 31,
 
    2012     2011  
Revenues   $ 13,101     $ 16,016  
Net loss     (3,569 )     (4,515 )
Cash flow provided by (used in) operations     225       (1,278 )
Net working capital changes     1,935       906  
Adjusted EBITDA   $ (1,710 )   $ (2,184 )
                 
As a percentage of revenues:                
                 
Net loss     -27.2 %     -28.2 %
Adjusted EBITDA     -13.1 %     -13.6 %
                 
(1) We hold a 50% interest in US Green Fiber, LLC ("GreenFiber"), a joint venture that manufactures, markets and sells cellulose insulation made from recycled fiber.  
                 
Components of Growth and Maintenance Capital Expenditures (1):  
             
    Three Months Ended
July 31,
 
    2012     2011  
Growth capital expenditures:                
Landfill development   $ 332     $ 41  
Water treatment facility     760       -  
Landfill gas-to-energy project     -       367  
MRF equipment upgrades     -       509  
Other     910       226  
Total Growth Capital Expenditures     2,002       1,143  
                 
Maintenance capital expenditures:                
Vehicles, machinery / equipment and containers   $ 3,053     $ 6,440  
Landfill construction & equipment     10,922       6,997  
Facilities     279       175  
Other     140       113  
Total Maintenance Capital Expenditures     14,394       13,725  
                 
Total Growth and Maintenance Capital Expenditures   $ 16,396     $ 14,868  
                 
(1) Our capital expenditures are broadly defined as pertaining to either growth, maintenance or acquisition activities. Growth capital expenditures are defined as costs related to development of new airspace, permit expansions, and new recycling contracts along with incremental costs of equipment and infrastructure added to further such activities. Growth capital expenditures include the cost of equipment added directly as a result of organic business growth as well as expenditures associated with increasing infrastructure to increase throughput at transfer stations and recycling facilities. Maintenance capital expenditures are defined as landfill cell construction costs not related to expansion airspace, costs for normal permit renewals, and replacement costs for equipment due to age or obsolescence. Acquisition capital expenditures are defined as costs of equipment added directly as a result of new business growth related to an acquisition.  

Contact Information

  • Investors:
    Ned Coletta
    Vice President of Finance and Investor Relations
    (802) 772-2239

    Media:
    Joseph Fusco
    Vice President
    (802) 772-2247

    http://www.casella.com