Newspaper article THE JOURNAL RECORD

Ametech Profits Drop 66.4 Percent to $54,000

Newspaper article THE JOURNAL RECORD

Ametech Profits Drop 66.4 Percent to $54,000

Article excerpt

A 66.4 percent decrease in net income to $54,000 was reported Monday for the first fiscal quarter ended April 29 by Ametech Inc., an Oklahoma City environmental services company.

That compares with income of $161,000 for the same period of the previous fiscal year. Revenues for the quarter totaled $3.46 million, down 27.4 percent from $4.76 million.

The company linked the drop in revenue from 1992 to 1993 to the completion of a large project during the first quarter of last year.

The revenue from Ametech's core transportation business, however, increased slightly this period from the same quarter of the previous fiscal year, despite the rainy weather much of the country experienced during the first part of the year, said Chairman and Chief Executive Carl Anderson, Jr.

"Business turned around for us in March when we broke a company record with 673,000 miles logged by our fleet," Anderson said. But "the low revenues in January and February (because of rain) resulted in lower margins, which adversely affected the March 1993 quarter. …

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