E&E reports higher revenues from DOD, government and energy projects

Ecology and Environment Inc. (Lancaster, N.Y.) reported $2.6 million in income before taxes for the quarter ended October 31, 2015, a 34% increase over the same period last year. Results were driven by higher revenues from the Department of Defense, government, and energy project activity in the United States. Earnings in South America continued to be adversely affected by an economic downturn in Brazil and by global and regional economic trends affecting mining and energy projects elsewhere in South America. “Ongoing initiatives to stabilize and strengthen our domestic operations are paying off, as reflected by higher revenues and steady operating costs in the U.S. during the first quarter,” said E & E president and CEO Gerard A. Gallagher III. “We face serious challenges in South America, notably in Brazil, where we are closely monitoring economic conditions and reducing operating costs in response to lower project activity.”
E&E previously reports total revenues decreased slightly overall for fiscal year 2015. Higher revenues from U.S. operations, which represent nearly 70% of consolidated revenues, were offset by a 14% decrease in foreign revenues.