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Ecology And Environment, Inc., First Quarter Earnings Down Vs. Last Year, Up Vs. Last Quarter

LANCASTER, N.Y., Dec. 19, 2012 (GLOBE NEWSWIRE) -- Ecology and Environment, Inc. (E & E) (Nasdaq:EEI) reported consolidated revenues for the first quarter of fiscal year 2013 of $36.8 million, a decrease of $5.5 million or 13% from the $42.3 million reported in the first quarter of fiscal year 2012. Revenue less subcontract costs was $29.8 million for the quarter compared to $33.2 million in the first quarter of fiscal year 2012, a decrease of $3.4 million or 10%. E & E reported net income of $.2 million or $.06 per share for the first quarter of fiscal year 2013, a decrease of $1.0 million from the net income of $1.2 million or $.28 per share reported in the first quarter of the prior year. However, compared to the fourth quarter of fiscal year 2012, net income for the first quarter of fiscal year 2013 has improved $1.1 million and E & E reported a profit of $.06 per share.

E & E has completed over 50,000 projects for a wide variety of clients in 122 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 31, 2012 October 29, 2011
     
Revenue  $ 36,822  $ 42,312
     
Revenue less Subcontract Costs  $ 29,806  $ 33,200
     
Net Income  $ 243  $ 1,160
     
Net Income Per Common Share: Basic and Diluted  $ 0.06  $ 0.28
 
CONTACT: Mr. John Mye, P.E.
         Vice President, Treasurer, and Chief Financial Officer
         (716) 684-8060
         jmye@ene.com

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