American Eco Spectacular First Quarter Dwarfs Fiscal 1995 Results.HOUSTON--(BUSINESS WIRE)--March 19, 1996--AMERICAN ECO E·co , Umberto Born 1932. Italian writer best known for his novels, including The Name of the Rose (1981). He has also written extensively on semiotics and British and American popular culture. CORP. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ECGOF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ECX ECX European Climate Exchange ECX E-Commerce Exchange ECX eCatalog XML ECX Extended Count Register ECX Electronically Controlled Telephone Exchange ECX Extrusion-Cast Explosive (fine-grain) ECX Experimental Concentration - Percent ) AMERICAN ECO CORPORATION announced record 1st Quarter earnings for the three month period ending February 29, 1996, soaring four times to US$1.8 million or US$0.20 per share, compared to US$483,000 or US$0.07 per share in the 1st Quarter of 1995. Revenues also surged four times to US$40.0 million for the 1st Quarter, compared to US$11.0 million in the 1st Quarter of 1995. This performance reflects the impact of spectacular growth combined with recent acquisitions. Michael E. McGinnis, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Eco, stated, "Revenues of $40.0 million in the first quarter of 1996 compared to revenues for the TOTAL year 1995 of US$46.7 million indicates that American Eco expects to break the One-hundred million mark in 1996." Over 98 percent of American Eco revenues are now generated in the US market. The above quarterly results are unaudited. -0- 1st QUARTER COMPARISON (US Dollars):
Percent
1stQ - 1996 1stQ-1995 Change
$40,014,000 Revenue $11,027,000 363 $ 1,806,000 Income $ 482,753 375 9,023,843 Weighted Av. 7,191,296 25 US$ 0.20 EPS US$ 0.07 285 AMERICAN ECO announced on March 14th, the acquisition of Environmental Evolutions, Inc., of Corpus Christi, Texas Corpus Christi is a coastal city and the county seat of Nueces CountyGR6 in the U.S. state of Texas. It is part of the region known as South Texas. , and on January 31st, the acquisition of Petrocon Construction Resources of Beaumont, Texas. On October 18, 1995, American Eco announced its acquisition of The Lake Charles Group of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. with US$45.0 million worth of construction in progress. AMERICAN ECO's acquisitions are part of a coordinated strategy to expand geographically as a leading provider of single source construction, project management, maintenance, demolition, dismantlement and environmental remediation services in the refining, petrochemical, government, commercial, manufacturing, and utility industries. AMERICAN ECO shareholders Annual Meeting will be held at the Toronto Sheraton Center, on Thursday April 25, 1996. CONTACT: American ECO Corporation Michael E. McGinnis, 713/647-0505 or American ECO Corporation John C. Pennie, 416/340-2727 |
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