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ECOLOGY AND ENVIRONMENT, INC. ANNOUNCES EARNINGS INCREASE 35 PERCENT FOR THE THIRD QUARTER OF FISCAL YEAR 1993

 BUFFALO, N.Y., June 8 /PRNewswire/ -- Ecology and Environment, Inc. (AMEX: EEI) today announced net income for the third quarter ending May 1, 1993 was $1.2 million, or $.31 per share, up 35 percent from $.23 per share recorded in the third quarter of fiscal year 1992. Net revenues for the third quarter of fiscal year 1993 were $19.2 million, up from $18.1 million reported for the same period of the prior year.
 Ronald L. Frank, executive vice president and chief financial officer, attributes the increase in third quarter net income to the return to normal staffing levels. Personnel transitioned from the expired USEPA Field Investigation Teams (FIT) contract are now fully integrated into ongoing operating projects. Margins adversely affected by this transition have returned to historical norms. Mr. Frank anticipates this improvement in margin will be maintained for the balance of the fiscal year. In the third quarter of fiscal year 1993, the company recorded increased net revenues from contracts with the U.S. Environmental Protection Agency (EPA) and U.S. Department of Defense (DoD) as compared to the same quarter of last year. Net revenues continued to be realized from the U.S. Department of Energy (DOE) and the private sector energy industry. The company was awarded two contracts with the People's Republic of China in March 1993 valued at approximately $1.8 million.
 Widely recognized as a leading environmental consultant with 25 U.S. offices, and representation in 23 countries -- Ecology and Environment, Inc. is helping to solve global environmental problems such as biodiversity and ozone depletion. Its multi-disciplinary services include: solid, hazardous, nuclear and medical waste management; air and water pollution control; hazardous and risk management; environmental impact assessment; field monitoring; and analytical laboratory services.
 Ecology and Environment, Inc. is headquartered in Lancaster, N.Y., a suburb of Buffalo. Its common stock is listed on the American Stock Exchange under the symbol EEI.
 ECOLOGY AND ENVIRONMENT, INC.
 Financial Report
 (In thousands, except per share information)
 Three months ended 5/1/93 5/2/92
 Gross revenues $21,981 $19,920
 Net revenues 19,150 18,054
 Net income 1,224 907
 Net income per common share $.31 $.23
 Weighted average common
 shares outstanding 3,939 3,937
 Nine months ended 5/1/93 5/2/92
 Gross revenues $65,771 $68,342
 Net revenues 56,941 58,598
 Net income 3,498 3,618
 Net income per common share $.89 $.92
 Weighted average common
 shares outstanding 3,938 3,935
 -0- 6/8/93
 /CONTACT: Ronald Frank of Ecology and Environment, Inc., 716-684-8060/
 (EEI)


CO: Ecology and Environment, Inc. ST: New York IN: ENV SU: ERN

PS-OS -- NY021 -- 6457 06/08/93 10:36 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
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