American Eco Fourth Growth Year With Record
$0.81 Per Share On Revenues Of $120.0 Million
HOUSTON, TEXAS--(BUSINESS WIRE)--Feb. 5, 1997--(TSE ECX.,
NASDAQ ECGOF.) American Eco Corporation announced record earnings
for the year ended November 30, 1996, tripled to US$8.8 million or
US$0.81 per share, compared to US$2.8 or US$0.40 per share for the
same twelve months of 1995. Revenues increased 2.5 times to US$120.0
million for the twelve months, compared to US$47.0 million in 1995.
The above results are audited.
Michael E. McGinnis, President & CEO of American Eco, stated,
"Revenues of $120.0 million for 1996 are a result of significant
internal growth from the synergy of new cross marketing opportunities
and the geographic expansion of American Eco through acquisitions in
the last two quarters. We are extremely motivated by 1997's
prospects, and look ahead to the various expansion opportunities,
which we as a management team feel are well within our grasp."
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*T
FISCAL YEAR COMPARISON (US Dollars):
Percent
1996 1995 Change
$119,529,000 Revenue $ 46,684,000 256
$ 8,763,000 Income $ 2,852,000 307
10,846,516 Weighted Av. 7,217,005 150
US$ 0.81 EPS US$ 0.40 202
4th QUARTER COMPARISON (US Dollars):
Percent
4thQ - 1996 4thQ - 1995 Change
$ 29,055,000 Revenue $ 19,323,000 150
$ 2,491,000 Income $ 973,000 256
10,846,516 Weighted Av. 7,217,005 150
US$ 0.20 EPS US$ 0.13 154 |
