SECURITIES & EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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F O R M 10-K/A
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[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended July 31, 1999
or
[ ] TRANSITION REPORT REQUIRED PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to ______________.
Commission file number: 1-9065
Ecology and Environment, Inc.
(Exact name of registrant as specified in its charter)
NEW YORK 16-0971022
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
368 Pleasant View Drive, Lancaster, New York 14086
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (716) 684-8060
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Exchange on Which Registered
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Class A Common Stock, American Stock Exchange, Inc.
par value $.01 per share
Securities registered pursuant to Section 12(g) of the Act.
None
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(Title of Class)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes X No ___
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-K or any amendments to this Form 10-K.
____
As of September 30, 1999, 2,197,142 shares of the registrant's Class A
Common Stock, $.01 par value (the "Class A Common Stock") were outstanding,
and the aggregate market value (based on the closing price as quoted by the
American Stock Exchange on September 30, 1999) of the Class A Common Stock
held by nonaffiliates of the registrant was approximately $9,633,151. As
of the same date, 1,768,728 shares of the registrant's Class B Common
Stock, $.01 par value ("Class B Common Stock") were outstanding.
EXPLANATION OF FIRST AMENDMENT
The Registrant, Ecology and Environment, Inc., (the "Company" or "EEI"),
filed a Form 10-K on October 29, 1999 with the Securities and Exchange
Commission, (the "SEC"). The Consolidated Statement of Cash Flows in Item 8
located on Page 21 of that form is hereby amended as shown in this First
Amendment. All other Items remain unchanged from the previously filed Form
10-K.
<TABLE>
Ecology and Environment, Inc.
Consolidated Statement of Cash Flows
<CAPTION>
Year ended July 31,
1999 1998 1997
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<S> <C> <C> <C>
Cash flows from operating activities:
Net income $ 287,661 $ 470,703 $ 113,071
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Depreciation 1,394,766 1,465,904 1,585,562
(Gain) loss on disposition of property and equipment 15,767 --- (1,225)
Minority interest in Aquaculture Facility 211,651 --- ---
Net foreign exchange loss 167,958 75,668 11,735
Provision for contract adjustments 606,875 661,925 112,925
(Increase) decrease in:
- contracts receivable, net (1,712,993) 2,735,269 (2,398,046)
- other current assets 267,059 (364,509) 5,107
- income taxes receivable 181,554 --- ---
- other non-current assets (41,997) (62,411) 47,870
Increase (decrease) in:
- accounts payable 389,818 678,850 (560,508)
- accrued payroll costs (934,594) (540,685) (404,081)
- other accrued liabilities (144,830) 1,439,091 101,151
- income taxes payable --- (184,583) 184,583
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Net cash provided by (used in) operating activities 688,694 6,375,222 (1,201,856)
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Cash flows used in investing activities:
Purchase of property, building and equipment, net (3,215,322) (1,543,118) (977,046)
Proceeds from sale of assets 128,359 --- 1,225
Payment for the purchase of bond (693,914) (3,052,854) (1,210,761)
Proceeds from maturity of notes 1,685,000 2,222,293 200,000
Proceeds from sale of investment securities 1,242,172 136,972 498,882
Investment in China Joint Venture --- (21,637) (148,396)
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Net cash used in investing activities (853,705) (2,258,344) (1,636,096)
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Cash flows used in financing activities:
Dividends paid (1,268,598) (1,265,480) (1,265,174)
Repayment of long-term debt (37,500) (54,166) (87,500)
Net proceeds from issuance of common stock 67,285 115,034 ---
Purchase of Treasury Stock (13,458) --- (175,000)
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Net cash used in financing activities (1,252,271) (1,204,612) (1,527,674)
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Net increase (decrease) in cash and cash equivalents (1,417,282) 2,912,266 (4,365,626)
Cash and cash equivalents at beginning of period 6,627,164 3,714,898 8,080,524
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Cash and cash equivalents at end of period $5,209,882 $6,627,164 $3,714,898
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The accompanying notes are an integral part of these financial statements.
</TABLE>
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, ECOLOGY AND ENVIRONMENT, INC. has duly
caused this Annual Report to be signed on its behalf by the undersigned
hereunto duly authorized:
Dated: November 15, 1999 ECOLOGY AND ENVIRONMENT, INC.
By: /s/ Gerhard J. Neumaier
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Gerhard J. Neumaier, President
