BUFFALO, N.Y., June 16, 2010 (GLOBE NEWSWIRE) — Ecology and Environment, Inc., (E & E) (Nasdaq:EEI) reported revenues for the third quarter of fiscal year 2010 (ended May 1) of .3 million, down 12 percent from the .0 million reported in the third quarter of fiscal year 2009.  Net income for the third quarter of fiscal year 2010 was 7,000 or .18 per share, a decrease from the .7 million or .42 per share reported in 2009 (which included a net gain of .24 per share attributable to a favorable tax settlement in Kuwait). Despite the decreases against a year ago, signs were positive against the previous quarter, with increasing revenue and net income.   

As reported by E & E in the second quarter of fiscal year 2010 ending January 30, 2010, the company was adversely impacted by temporary project and funding delays.  This adverse impact ended during the third quarter.  Compared to the previous quarter in 2010, E & E had revenue growth to .3 million from .1 million, and net income grew to 7,000 or .18 per share from 5,000 or .06 per share.  ”The improvement from last quarter in revenue and net income has been important for us,” said E & E president and CEO, Kevin Neumaier. ” It is showing that we have gotten past the slowdown that occurred at the start of the second quarter, and that our business development and proposal spending is resulting in increased revenues. I n addition to other work, as previously announced, we signed two contracts with the Navy totaling Million in March of this year.  These things, together with a high level of environmental concern globally, have us optimistic as we move into the fourth quarter and our 2011 fiscal year.”  

FORWARD LOOKING STATEMENTS

Any statements that refer to projections or expectations concerning future financial performance, anticipated growth and trends in the company’s businesses are forward-looking statements.  Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. The company undertakes no obligation to revise or update any forward-looking statements for any reason.  Information on risks and uncertainties is available in the company’s SEC filings.

Ecology and Environment, Inc. has completed more than 45,000 projects for a wide variety of clients in 84 countries, providing environmental solutions in nearly every ecosystem on the planet.  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/news.

CONTACT:  Ecology and Environment, Inc.
          John Mye
          (716) 684-8060
          jmye@ene.com