HOUSTON--(BUSINESS WIRE)--April 7, 1997--American Eco Corp.
(NASDAQ/TSE:ECGOF;ECX) announced record 1st quarter earnings for the three month period
ending Feb. 28, 1997, of US$3.6 million or US$0.25 per share, compared to US$1.8 million or
US$0.20 per share in the 1st Quarter of 1996.
Revenues grew 13 percent to US$45.2 million for the 1st quarter, compared to US$40.0 million in
the 1st quarter of 1996. This performance continues the fifth straight year of consistent spectacular
growth quarter by quarter of American Eco. The above quarterly results are unaudited.
Michael E. McGinnis, president & CEO of American Eco, stated, "Revenues of $45 million in the
first quarter of 1997 when compared to revenues for the TOTAL year 1996 of US$120 million,
again demonstrates that over the past 5 years, American Eco continues to fulfill the promises of its
management for aggressive growth in earnings and revenues each and every quarter."
1st QUARTER COMPARISON (US Dollars):
1stQ - 1997 1stQ - 1996 Percent Change
$ 45,236,000 Revenue $ 40,014,000 13 percent
$ 3,556,000 Income $ 1,806,000 97 percent
14,432,926 Weighted Av. 9,023,843 60 percent
US$ 0.25 EPS US$ 0.20 25 percent |
