SOURCE: Ecology and Environment, Inc.
March 15, 2017 10:30 ET
LANCASTER, NY--(Marketwired - March 15, 2017) - Ecology and Environment, Inc., ("E & E" or the "Company") (NASDAQ: EEI) reported earnings of $0.13 per share for the six months ended January 28, 2017, up 225% from earnings of $0.04 per share reported for the same period of the prior year. A significantly reduced effective tax rate associated with South American operations and lower operating expenses in the U.S. and South America more than offset reductions in domestic and foreign revenues during the first half of fiscal year 2017.
Quarterly earnings improved to a loss of $0.07 per share for the current quarter from a loss of $0.11 per share for the second quarter of the prior year. Net income before taxes improved to income of $0.2 million for the current quarter from a loss of $0.5 million for the same quarter last year. The current quarter loss was mainly due to a tax charge related to repatriation of dividends from the Company's South American operations.
E & E is listed on the NASDAQ under the symbol EEI and the information contained in this press release is available on the Company's website at www.ene.com.
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