Environmental Elements Corp.

BY THE NUMBERS

January 29, 1991

This Baltimore-based designer of air-pollution-control equipment generated more than $20 million in revenues during its third fiscal quarter of 1990, which ended Dec. 31. That was an increase of nearly 60 percent over the slightly more than $13 million in revenues for the third quarter of 1989.

F. Bradford Smith, president and chief executive officer, said costs specific to certain projects and the seasonal nature of his company's business caused 1990 third-quarter results to fall slightly below expectations. However, Mr. Smith said he saw evidence that orders would improve in January. He said the company holds $24 million in letters of intent, which should be converted into orders in the coming year.

Three months ended 12/31/90

Revenue.. .. .. Net.. .. Share..

'90..20,807,000..1,409,000.. .. 0.12

'89..13,041,000..150,000.. .. ..0.03

% change.. +59.5 .. +839.3.. .. .. +300.0

Nine months ended 12/31/90

Revenue .. .. Net.. .. .. Share..

'90..67,220,000.. ..4,759,000.. ..0.61

'89.. 42,253,000.. .. 3,434,000 .. ..0.13

% change.. +59.0.. .. +38.5.. .. .. +369.2

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