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| 8-K - ECOLOGY & ENVIRONMENT INC | form8k.htm |
Exhibit 99.1
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 Records for Year and Fourth Quarter
LANCASTER, N.Y., October 31, 2011 – 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 $144.1 million in the prior year.
“We’d like to thank our clients and our employees globally,” said E & E president and CEO Kevin Neumaier. “This was a record year for our operations around the world. Although there are economic uncertainties in the world, it is clear that the world must move to more sustainable business and a globally sustainable economy. E & E is well-positioned to support this with our depth of knowledge and global experience.”
E & E has completed over 50,000 projects for a wide variety of clients in 113 countries, providing environmental solutions in nearly every ecosystem on our planet. E & E is listed on the NASDAQ under the symbol EEI and the information contained in this press release is available on the Company’s website at www.ene.com.
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Financial Report -
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(In thousands, except per share information)
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Fiscal Year Ending
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July 31, 2011
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July 31, 2010
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% Increase
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Revenue
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$ | 169,173 | $ | 144,098 | 17% | |||||||
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Revenue less Subcontract Costs
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$ | 137,847 | $ | 113,806 | 21% | |||||||
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Net Income
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$ | 6,960 | $ | 4,258 | 63% | |||||||
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Net Income Per Common Share: Basic and Diluted
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$ | 1.65 | $ | 1.02 | 62% | |||||||
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Three Months Ending
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July 31, 2011
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July 31, 2010
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Revenue
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$ | 44,161 | $ | 40,698 | ||||||||
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Revenue less Subcontract Costs
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$ | 35,290 | $ | 32,807 | ||||||||
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Net Income
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$ | 1,914 | $ | 1,876 | ||||||||
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Net Income Per Common Share: Basic and Diluted
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$ | 0.45 | $ | 0.44 | ||||||||