Jul. 22--Folsom-based trash disposal company Waste Connections on Tuesday posted solid profits and said it would expand its reach into the national garbage business.

The firm announced second-quarter net income of $30.4 million -- up nearly 19 percent from $25.6 million in the same period of 2008. Waste Connections' financial report also said it entered into an agreement in late June to acquire Eugene, Ore.-based Sanipac Inc., billed as the largest privately owned solid waste services provider in Oregon.

Financial terms of the deal were not disclosed.

Ronald Mittelstaedt, Waste Connections chairman and CEO, said the "closing of the Sanipac transaction, which remains subject to satisfaction of closing conditions, is expected to occur in the third quarter. -- With this transaction and others already completed, acquisition activity in the year totals approximately $165 million of annualized revenue."

Sanipac has operated as a family-owned business since 1980. It employs 130, and its Web site touts a state-of-the-art recycling program .

The pending deal with Sanipac continues a trend of striking growth at Waste Connections, even as it has been tightening its belt to rein in operating costs amid the soft economy. The company said Tuesday that it completed the acquisition of assets from Phoenix-based waste firm Republic Services Inc. in the second quarter, capping a $313.2 million deal. In November, it completed a $303.3 million acquisition of Harold LeMay Enterprises, a Washington state solid waste services firm.

Waste Connections' revenue for the quarter ended June 30 totaled $302.8 million, a 13.4 percent increase over revenue of $267 million in the April-June period of 2008.

"Stabilizing volumes, contribution from recently completed acquisitions and aggressive expense management enabled us to exceed our expectations for the second quarter," Mittelstaedt said.

For the six months ended June 30, revenue was $565.5 million, a 9.3 percent increase over $517.3 million a year ago. Net income for the first half was $52.4 million, compared with $48 million last year.

Currently, 12-year-old Waste Connections operates in 26 states -- mostly in the West and South. The company's stock closed Tuesday at $27.11, up 30 cents, on the New York Stock Exchange.

------

Call The Bee's Mark Glover, (916) 321-1184.

-----

To see more of The Sacramento Bee, or to subscribe to the newspaper, go to http://www.sacbee.com/.

Copyright (c) 2009, The Sacramento Bee, Calif.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NYSE:WCN, NYSE:RSG,

A service of YellowBrix, Inc.