LANCASTER, N.Y., Dec. 13, 2011 (GLOBE NEWSWIRE) — Ecology and Environment, Inc. (E & E) (Nasdaq:EEI – News) 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.
|Financial Report —|
|(In thousands, except per share information)|
|Three Months Ending|
|October 29, 2011||October 30, 2010|
|Revenue||$ 42,312||$ 42,026|
|Revenue less Subcontract Costs||$ 33,200||$ 34,944|
|Net Income||$ 1,160||$ 1,859|
|Net Income Per Common Share: Basic and Diluted||$ 0.28||$ 0.44|
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