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Ecology and Environment, Inc. Reports Records for Year and Fourth Quarter

2011-10-31 08:45 ET - News Release

LANCASTER, N.Y., Oct. 31, 2011 (GLOBE NEWSWIRE) -- Ecology and Environment, Inc., (E & E) (Nasdaq:EEI) reported record revenues of $169 million for fiscal year 2011, including record revenues for the fourth quarter of $44.2 million. E & E also reported net income of $1.65 per share for the fiscal year and $.45 per share for the fourth quarter – again both records for the year and quarter.

E & E's record fiscal year ending July 31, 2011, had an earnings increase of 63% to $1.65 per share on revenues of $169.2 million compared to earnings of $1.02 per share on revenues of $144.1 million in the prior year.

"We'd like to thank our clients and our employees globally," said E & E president and CEO Kevin Neumaier. "This was a record year for our operations around the world. Although there are economic uncertainties in the world, it is clear that the world must move to more sustainable business and a globally sustainable economy. E & E is well-positioned to support this with our depth of knowledge and global experience."         

E & E has completed over 50,000 projects for a wide variety of clients in 113 countries, providing environmental solutions in nearly every ecosystem on our planet. E & E is listed on the NASDAQ under the symbol EEI and the information contained in this press release is available on the Company's website at www.ene.com.

Financial Report --
       
(In thousands, except per share information)
       
  Fiscal Year Ending
  July 31, 2011 July 31, 2010 % Increase
       
Revenue  $ 169,173  $ 144,098 17%
       
Revenue less Subcontract Costs  $ 137,847  $ 113,806 21%
       
Net Income  $ 6,960  $ 4,258 63%
       
Net Income Per Common Share: Basic and Diluted  $ 1.65  $ 1.02 62%
       
       
       
  Three Months Ending  
  July 31, 2011 July 31, 2010  
       
Revenue  $ 44,161  $ 40,698  
       
Revenue less Subcontract Costs  $ 35,290  $ 32,807  
       
Net Income  $ 1,914  $ 1,876  
       
Net Income Per Common Share: Basic and Diluted  $ 0.45  $ 0.44  
       
CONTACT: Mr. John Mye, P.E.
         Vice President, Treasurer, and Chief Financial Officer
         (716) 684-8060
         jmye@ene.com

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