FOR IMMEDIATE RELEASE

Contact:
Mr. John Mye, P.E.
Vice President, Treasurer, and Chief Financial Officer
 (716) 684-8060
jmye@ene.com


Ecology and Environment, Inc. Reports Record Quarterly Earnings


LANCASTER, NY, October 29, 2010  –
Ecology and Environment, Inc., (E & E) (NASDAQ: EEI) announced record earnings of $1.9 million or $.44 per share for the fourth quarter ending July 31, 2010, compared to earnings of $1.1 million or $.26 per share for the fourth quarter of the previous fiscal year.  The improvement in fourth quarter operations brought annual earnings to $1.02 per share on revenues of $144.9 million, compared to earnings of $1.27 per share on revenues of $146.9 million for the previous year.

E & E was able to capitalize on increased business and improved project execution to deliver solid profit gains in the fourth quarter.  “In our fourth quarter we posted record numbers for two of our key business metrics: revenues less subcontract costs and net income,” E & E President and CEO Kevin Neumaier stated.  “Increased work with private sector clients in the energy and other global markets more than offset reductions in work with state and federal customers.  This increased the amount of work we did during the quarter, which flowed through to the bottom line and improved margins.”  Indirect costs dropped to 33.3% of revenue in the fourth quarter this year, compared to 37.5% through the third quarter.  E & E saw quarterly income from operations margin grow to 10.1% compared to 5.5% through the third quarter of 2010.
 
E & E recorded a gain on the sale of land during the first quarter of fiscal year 2010 of $809,000 ($453,000 after tax) which positively impacted earnings by $.11 per share.  Excluding this sale, earnings for fiscal year 2010 were $.91 per share.  Fiscal year 2009 earnings included a net gain of $.24 per share attributable to a tax settlement in Kuwait and a net gain of $.10 per share attributable to the settlement of outstanding indirect rate adjustments with the federal government.  Excluding these items, earnings for fiscal year 2009 were $.93 per share.

FORWARD LOOKING STATEMENTS
 
Any statements that refer to projections or expectations concerning our future financial performance, anticipated growth and trends in our businesses are forward-looking statements.  Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  We undertake no obligation to revise or update any forward-looking statements for any reason.  Information on risks and uncertainties is available in our SEC filings.

Ecology and Environment, Inc. has completed more than 50,000 projects for a wide variety of clients in 96 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)
     
       
   
Three Months Ending
 
   
July 31, 2010
   
July 31, 2009
 
             
Revenue
  $ 40,988     $ 41,110  
Revenue less Subcontract Costs
  $ 32,807     $ 29,790  
Net Income
  $ 1,876     $ 1,059  
Net Income Per Common Share:  Basic and Diluted
  $ 0.44     $ 0.26  
                 
       
       
   
Fiscal Year Ending
 
   
July 31, 2010
   
July 31, 2009
 
                 
Revenue
  $ 144,875     $ 146,887  
Revenue less Subcontract Costs
  $ 113,806     $ 108,862  
Net Income
  $ 4,258     $ 5,221  
Net Income Per Common Share:  Basic and Diluted
  $ 1.02     $ 1.27  



 
 

 


The following information was filed by Ecology Environment Inc (EEI) on Friday, October 29, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Ecology Environment Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Ecology Environment Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account