National Waste Management Holdings reports 50% increase in revenueStaff writer ▼ | April 4, 2016
National Waste Management Holdings announced financial results for the year ended December 31, 2015.
National Waste Gross profit for 2015 was $1.2 million
The increase in revenue was due to the acquisitions we completed last year as well as the addition of new customers and expanded sales to our existing customers.
Gross profit for 2015 was $1.2 million or 47% of revenue versus $734,103 or 44% of revenue for the same period in 2014.
Operating income for the year December 31, 2015 was $240,219 versus operating income of $248,700 for year ended December 31, 2014.
Net loss for the year ended December 31, 2015 was ($62,408) or ($0.001) earnings per share, versus net income of $157,139 or $0.003 earnings per share for the year ended December 31, 2014.
The loss in 2015 is due to the one time non cash write off of landfill acquisition deposits. Without this one time charge off, without adjusting for the change in taxes, the company would have had net income of $237,592, an increase from prior year.
National Waste also incurred increased SG&A expenses to support the anticipated growth, as well as an increase in public company expenses in advance of the planned listing on a national exchange. ■