E&E profits quadruple - The Buffalo News

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E&E profits quadruple

Ecology & Environment's fourth-quarter profits more than quadrupled as the Lancaster-based environmental services firm's sales grew by 15 percent and the company kept a lid on operating costs.

E&E earned $2.2 million, or 51 cents per share, during the quarter that ended in July, up from $529,000, or 13 cents per share, a year ago.

Sales rose to $29.9 million from $25.9 million as revenue from U.S.-based projects grew by 13 percent, even though a slump in the energy and mining sector, along with competitive pricing pressure reduced E&E's average hourly service rates. Revenues in Brazil, Peru and Chile grew by 19 percent during the quarter.

 

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