LANCASTER, N.Y., Dec. 13, 2011 (GLOBE NEWSWIRE) -- Ecology and Environment, Inc. (E & E) (Nasdaq:EEI) reported revenues for the first quarter of fiscal year 2012 of $42.3 million, up slightly from the $42.0 million reported in the first quarter of fiscal year 2011. Revenue less subcontracts was $33.2 million for the quarter compared to $34.9 million in the first quarter of fiscal year 2011, a decrease of 5% from the record level in fiscal year 2011. Net income for the first quarter of fiscal year 2012 was $1.16 million or $.28 per share, down from the $1.86 million or $.44 per share reported in the prior year.
"There is some natural ebb and flow in our business, as seen in the successful completion of a large field program and the comparison against last year's record earnings," said E & E president and CEO Kevin Neumaier. "While there is some softness in the U.S. market, we see a long-term global demand for our services."
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.
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Financial Report -- |
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(In thousands, except per share information) |
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Three Months Ending |
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October 29, 2011 |
October 30, 2010 |
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Revenue |
$ 42,312 |
$ 42,026 |
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Revenue less Subcontract Costs |
$ 33,200 |
$ 34,944 |
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Net Income |
$ 1,160 |
$ 1,859 |
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Net Income Per Common Share: Basic and Diluted |
$ 0.28 |
$ 0.44 |
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CONTACT: Mr. John Mye, P.E.
Vice President, Treasurer, and Chief Financial Officer
(716) 684-8060
jmye@ene.com
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