This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ecology And Environment, Inc., Third Quarter Earnings Down And Year-To-Date Earnings Unchanged Vs. Last Year

LANCASTER, N.Y., June 21, 2013 (GLOBE NEWSWIRE) -- Ecology and Environment, Inc., ("E & E" or the "Company") (Nasdaq:EEI) reported consolidated revenues for the third quarter of fiscal year 2013 of $32.2 million, a decrease of $3.8 million or 11% from the $36.0 million reported in the third quarter of fiscal year 2012. Revenue less subcontract costs of $26.1 million for the current quarter decreased $3.9 million or 13% compared to the third quarter of fiscal year 2012. E & E reported a net loss of $0.4 million or $.10 per share for the third quarter of fiscal year 2013, a decrease of $0.5 million from the net income of $0.1 million or $.01 per share reported in the third quarter of the prior year. Compared to the second quarter of fiscal year 2013, net income for the third quarter decreased $2.3 million.

Consolidated revenues for the first nine months of fiscal year 2013 were $105.2 million, a decrease of $13.3 million or 11% from the $118.5 million reported in the first nine months of fiscal year 2012. Revenue less subcontract costs of $86.6 million for the first nine months of fiscal year 2013 decreased $7.2 million or 8% compared to the same period in the prior fiscal year.  Net income of $1.7 million or $.40 per share for the first nine months of 2013 was relatively unchanged from net income reported for the same period last year.

E & E's expansion to countries in the Middle East, Africa and Asia over the past several years has resulted in heightened political, regulatory, and cultural risks within these regions in comparison with similar risks associated with its business in the United States, Canada and South America. The Company has experienced slow and inconsistent collections from clients in the Middle East, Africa, and Asia, which in turn has had a significant impact on the comparability of its quarterly and annual results due to large swings in allowances established to record contract receivables at expected amounts.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs