For the six months ended June 30, 2004, revenues were $11.3 million compared to revenues of $19.0 million for the six-month period a year ago. The prior period includes $12.1 million in revenues earned from work in Iraq (including a first quarter equipment sale of $6.6 million). In the current six-month period EBITDA was $2.0 million (prior period $7.1 million) and income from continuing operations was $0.5 million (prior period $5.2 million). After deducting preferred stock dividends, net income attributable to common stockholders was $0.2 million for the six months ended June 30, 2004, versus $4.2 million for the 2003 six-month period. Basic earnings per share were $0.01 as compared to $0.24 for the six-month comparable period. Diluted earnings per share were $0.01 as compared to $0.20 for the six-month comparable period.
"We experienced a solid quarter in our response segment. Our reputation as the premier response company in the industry continues to support our strong market share in this segment," said Jerry Winchester, President and Chief Executive Officer. "Led by non-event related work in our Venezuelan operation, revenue in our prevention segment remained steady. We continue to believe prevention activity, which is the platform of our business model, will increase over the second half of the year."
Operational highlights include:
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