Exhibit 99.1

 

Investor Contact:
Sharon Merrill Associates
(617) 542-5300
trr@investorrelations.com

Company Contact:
Carl Paschetag, CFO
(978) 970-5600
cpaschetag@trcsolutions.com

 

TRC announceS Fourth Quarter and fiscal
Year-End 2007 financial results

 

Company Increases Net Service Revenue;

Completes Implementation of New Enterprise-Wide Operating Platform

 

Lowell, MA, November 30, 2007 - TRC (NYSE: TRR), a recognized leader in engineering, consulting and construction management, today announced financial results for the fourth quarter and fiscal year ended June 30, 2007.

 

Fourth-Quarter Results

 

For the three months ended June 30, 2007, gross revenue increased 15.9% to approximately $115.0 million compared with approximately $99.2 million for the three months ended June 30, 2006. Net service revenue for the fourth quarter of fiscal 2007 increased 3.7% to approximately $63.9 million compared with approximately $61.6 million for the fourth quarter of fiscal 2006. Gross revenue includes subcontracted costs that can fluctuate period to period. The Company believes that net service revenue more closely reflects the value of services provided by TRC to customers.

 

The net loss for the three months ended June 30, 2007 was approximately $4.3 million compared with a net loss of approximately $12.2 million for the comparable period in fiscal 2006. The net loss applicable to common shareholders was approximately $4.3 million, or $0.23 per share, compared with a net loss of approximately $12.4 million, or $0.74 per share, for the three months ended June 30, 2006.

 

Fiscal Year 2007 Results

 

For the fiscal year ended June 30, 2007, gross revenue increased 11.5% to approximately $441.6 million compared with approximately $396.1 million for fiscal 2006. Net service revenue for fiscal 2007 increased 7.5% to approximately $255.9 million compared with approximately $238.0 million for fiscal 2006.

 

The net loss for fiscal 2007 was approximately $3.6 million compared with a net loss of approximately $23.8 million for fiscal 2006. The net loss applicable to common shareholders for fiscal 2007 was approximately $5.9 million, or $0.33 per share, compared

 

TRC
650 Suffolk Street 
  Lowell, Massachusetts 01854
Telephone 978-970-5600     Fax 978-453-1995

 


The following information was filed by Trc Companies Inc (TRR) on Friday, November 30, 2007 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.

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