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E&E turns profitable as sales rise and costs fall

Lower expenses and a 9 percent rise in revenues helped Ecology & Environment turn profitable again during the third quarter.

E&E said it earned $1.8 million, or 42 cents per share, during the quarter that ended in April, up from a loss of $300,000, or 8 cents per share, a year ago.

Sales increased to $31.5 million from $30.3 million, as U.S. revenues increased by 9 percent, while its foreign sales sagged by 26 percent because of softness in its South American markets, especially the energy sector in Brazil.

E&E, which has been restructuring its operations for nearly two years, cut its operating expenses by 15 percent, saving $4.1 million.