Ecology
& Environment profit up - Higher sales help increase
earnings by 13 percent
Higher revenues, especially from commercial
clients, helped Ecology & Environment increase
its fourth-quarter profits by 13 percent, the
Lancaster-based environmental services firm
said Tuesday.
E&E's profits improved to $589,000, or
15 cents per share, from $518,000 or 14 cents
per share, a year earlier, as the company held
its indirect costs steady during the quarter.
E&E's net revenues rose by 8 percent to
$20.5 million during the quarter that ended
in July, compared with $18.9 million a year
earlier.
Ronald L. Frank, E&E's executive vice president
and chief financial officer, said the improved
revenues were partly due to stronger sales at
its Walsh Environmental subsidiary. Walsh's
revenues jumped by 36 percent as energy-related
work on mineral reserve and exploration analysis
increased.
Sales from E&E's commercial clients, which
account for slightly less than a quarter of
the company's revenues, nearly doubled to $4.9
million during the quarter. Most of the increase
was due to work on projects related to liquefied
natural gas imports and wind energy, Frank said.
E&E, which got nearly 12 percent of its
revenues during the fiscal year from work on
relief efforts related to hurricanes Rita and
Katrina, still is seeking more work in the Gulf
Coast region, especially on projects related
to damage to wetlands and coastal areas, Frank
said.