Consolidated Envirowaste Reports 2009 Annual Results

Consolidated Envirowaste Industries Inc. (TSX VENTURE:CWD) announced today its
results for the year ended September 30, 2009. A complete copy of the Company's
audited annual financial statements and accompanying management's discussion and
analysis is available on SEDAR at www.sedar.com. Excerpts from the annual
audited financial statements are as follows:




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September 30                                        2009             2008
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Total Revenues                               $18,276,420      $19,411,701
Net loss from continuing operations            ($764,835)     ($1,097,162)
Loss per share-basic                              ($0.07)          ($0.11)
Loss per share-diluted                            ($0.07)          ($0.11)
Net loss for the year                          ($764,835)     ($1,097,162)
Loss per share-basic                              ($0.07)          ($0.11)
Loss per share-diluted                            ($0.07)          ($0.11)
Weighted average number of common shares
 outstanding-basic                            10,414,699       10,414,699
Weighted average number of common shares
 outstanding-diluted                          10,414,699       10,414,699

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The Company recorded a net loss after income taxes of $764,835 or $0.07 per
share ($0.07 per share diluted) for the year ended September 30, 2009 compared
to a net loss of $1,097,162 or $0.11 per share ($0.11 per share diluted) for the
year ended September 30, 2008. Results for the 2009 fiscal year were
characterized by the varying effects of the continuing economic malaise in
Florida and operating adjustments made by the Company's CRR Florida subsidiary
to meet these conditions, weakening of the Canadian dollar versus the U.S.
dollar until late in the year, higher capacity utilization in the Company's
Canadian operations offset by poor weather conditions at the onset of the spring
growing season and a continuation of inclement weather on the Canadian Prairies
throughout the remainder of the year, and the decision by management to
establish a valuation allowance for the Company's U.S. future income tax assets
resulting from the continued poor performance of the U.S. operations in the face
of the economic conditions in Florida.


Total revenue for the year ended September 30, 2009 declined 6% or approximately
$1,135,000, from $19,411,701 for the year ended September 30, 2008 to
$18,276,420. While the Company's U.S. dollar denominated revenues for the year
ended September 30, 2009 fell 22% in terms of U.S. dollars compared to 2008,
currency translation differences increased its U.S. dollar denominated portion
of revenues by approximately $1,984,000 or 17% to reduce the impact of the
revenue shortfall to only 9% in terms of Canadian funds. Less volatile fuel
costs (44% lower than for fiscal 2008) helped ease pressure on manufacturing
overhead and transportation costs. Having made significant operational
adjustments to the Company's U.S. operations during the current fiscal year, the
Company managed to increase operating margins during the year ended September
30, 2009 compared to 2008 with strong cost controls on its manufacturing inputs.


A significant change in income tax amounts between fiscal year ends 2009 and
2008 also affected the comparative net losses between the two years, with income
tax expense of approximately $141,000 for the year ended September 30, 2009
compared to an income tax recovery of approximately $669,000 for the year ended
September 30, 2008. As management reviewed the U.S. operating results for this
and previous fiscal years, the timing of future income tax asset benefits, and
the prospects of the U.S. subsidiaries' poor results continuing into and beyond
the 2010 fiscal year, management decided, in consultation with the Company's tax
advisors, that the Company would, more likely than not, be unable to utilize
these future income tax assets prior to expiration, and wrote off these future
income tax assets during the current fiscal year.


The Company recorded a net loss after provision for income taxes of $935,196, or
$0.09 per share ($0.09 per share diluted) for the fourth quarter of 2009,
compared to a net loss after income tax recoveries of $548,426, or $0.05 per
share ($0.05 per share diluted) for the same quarter of 2008.


Revenue for the quarter, at $3,730,673, was down approximately 15% from
$4,401,108 reported in the fourth quarter of 2008. Fourth quarter comparative
translation of the Company's U.S. dollar denominated revenues improved
comparative revenues by approximately 5% or $168,000 as the Canadian dollar
rebounded late in the fourth quarter of fiscal 2009, but not nearly to the
levels it was during last year's fourth quarter.


For the year ended September 30, 2009, cash provided by operating activities
after changes in working capital was $1,138,742, compared to $867,014 provided
by operating activities after changes in working capital for the year ended
September 30, 2008, reflecting a return to the Company's seasonal operating
characteristics and the $474,000 swing in cash provided by the write-down of the
future income tax benefits in the current fiscal year.


We expect the 2010 fiscal year to reflect seasonal operating patterns
experienced over the past two years. We also expect a continuation of the
challenging Florida economic environment well into the 2010 fiscal year and
beyond. The upward trend in fuel prices continues to be an operational concern.
The Company intends to maintain strong operating cost controls to optimize
operations in the face of these challenges and to explore new opportunities as
they present themselves.


Consolidated Envirowaste Industries Inc. is a leading processor of wood and
other organic wastes in Western Canada and Florida. The Company markets and
supplies biomass boiler fuel for electric generation facilities, charcoal
manufacturers and pulp and paper mills in the U.S., bulk landscaping products in
both of these regions, and packaged soil products to major Western Canadian
retailers.


Forward-Looking Statements This report contains statements that are
forward-looking in nature. Readers are cautioned that such forward-looking
statements are not guarantees and may involve known and unknown risks and
uncertainties that could cause the actual results of the Company to be
materially different from those expressed or implied by those forward-looking
statements. Such risks include, among others: general economic and business
conditions, weather factors, competition, product selling prices, the cost and
availability of raw materials, operating costs, changes in foreign currency
exchange rates, dependence on contracts, the regulatory environment,
seasonality, risk of liability for environmental damage, risks associated with
litigation, and concentration of shareholder control. For a fuller description
of those risks, please see the sections headed "Critical Accounting Estimates"
and "Risk Factors" in management's discussion and analysis for the year ended
September 30, 2009, a copy of which is available under the Company's name on
SEDAR at www.sedar.com.


Consolidated Envirowaste Industries Inc.

James E. Darby, Chairman and Chief Executive Officer