NISKAYUNA, NY -- (05/15/1998; 1230)(EIS) -- Environment One Corporation (NASDAQ:EONE) achieved record first quarter revenues of $5.4 million, up 19 percent from $4.5 million in the first quarter of 1997. Net income from operations increased 156 percent to $372,000, up from $145,000 in the same period in 1997, with diluted earnings per share of $0.08 versus $0.03 in the first quarter last year.
Environment One's merger into Precision Castparts Corp. (NYSE:PCP) is expected to be completed by mid-June, according to E/ONE's president, Stephen V. Ardia.
Environment One Corporation
For the Three Months Ended March 31, 1998 and 1997
| Three Months Ended March 31, | ||
| 1998 | 1997 | |
| Revenue | $5,431,521 | $4,547,725 |
| Net Income | 372,387 | 144,944 |
| Per Share Amounts | ||
| Basic Earnings per Common Share | $0.09 | $0.03 |
| Diluted Earnings per Common Share | $0.08 | $0.03 |
Environment One, with headquarters in Niskayuna, NY is a manufacturer and provider of:
- Products and services for the disposal of residential sanitary waste.
- Detection systems for the protection of high value electric utility equipment.
(CONTACT: Media; George Vorsheim, 518-346-6161 ext. 3021
or Financial; Philip Welsh, 518-346-6161 ext. 3082 WWW; http://www.eone.com )