Ecology & Environment (EEI) Trades Strong Following Solid Q3 Report

Ecology & Environment (NASDAQ: EEI) is up over 18 percent with strong volume Wednesday following the company's FQ315 report, which was issued after markets closed Tuesday.

EEI reported Q3 EPS of $0.42, versus a loss of $0.08 per share reported FQ314. Revenue for the quarter came in at $30.35 million, versus $31.5 million reported last year.

Revenues from U.S. operations improved 9% during the current quarter, as compared with the same quarter last year, driven by higher Department of Defense and energy sector project activity. A 25% decrease in foreign revenues, largely attributable to reduced energy sector project activity in Brazil, resulted in an overall 2% decrease in revenue less subcontract costs during the current quarter. Brazilian operations have been adversely affected by a recent economic downturn and weakening of the Brazilian Real in relation to the U.S. dollar.

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