Annual Report 2010 - Ecology & Environment

Consolidated Statements of IncomeYear ended July 31,2010 20092008Revenue $144,874,534 $146,886,938$110,532,816Cost of professional services and other direct operating expenses 49,623,816 50,383,876Subcontract costs31,068,357 38,025,409Administrative and indirect operating expenses38,166,067 34,309,40844,658,18015,833,82931,013,505Marketing and related costsDepreciation14,438,785 13,101,9991,684,406 1,620,82911,950,3061,483,931Income from operations9,893,103 9,445,417 5,593,065Interest expense(222,558) (77,238) (431,287)Interest income107,211 202,052 441,190Other expense(68,349) (41,064) (183,246)Gain on sale of property and equipment809,200— —Net foreign currency exchange gain (loss) (59,718) (78,930) 134,009Income before income tax provision 10,458,889 9,450,237Income tax provision 3,902,222 2,560,897Net income $6,556,667 $6,889,3405,553,7312,113,007$3,440,724Net income attributable to the noncontrolling interest (2,299,060) (1,668,066)(1,606,338)Net income attributable to Ecology and Environment, Inc.Net income per common share: basic and diluted$4,257,607 $5,221,274$1.02 $1.27$1,834,386$0.43Weighted average common shares outstanding: basic and diluted4,160,816 4,115,9214,259,663The accompanying notes are an integral part of these consolidated financial statements.A scientist collects data for noise and vibration studies for E&E’ssupplemental EIRaddressing the expansion of the Wild Goose Natural Gas Storage Facility for theCalifornia Public Utilities Commission.Celebrating 40 Years of Green Solutions23