Date: Mon, 29 Dec 1997 20:14:10 GMT Server: Stronghold/1.3.4 Ben-SSL/1.3 Apache/1.1.3 Content-type: text/html Content-length: 36776 Last-modified: Mon, 06 Oct 1997 22:35:06 GMT Harding Lawson Associates News

Date

News Item

10/2/97


HLA OPENS TWO NEW OFFICES IN CALIFORNIA

Novato, California, October 2, 1997 -- Harding Lawson Associates is pleased to announce the opening of two new offices in California. Both of these offices are being opened in response to the expanding needs of current clients as well as increased opportunities to provide services to new clients in these areas. The two new office locations are:

2880 Zanker Road, Suite 203 330 North D Street, Suite 310
San Jose, CA 95134 San Bernardino, CA 92401
Telephone: (408) 954-7313 Telephone: (909) 888-1690
Facsimile: (408) 432-7235 Facsimile: (909) 888-4791

Both offices are currently continuing with ongoing projects and will provide the full range of HLA’s environmental services. Additionally, the San Jose office will offer a specialty practice in providing services to operating facilities (such as those involved in the computer industry) ranging from industrial health and safety consulting to complete outsourcing of EH&S needs. The San Bernardino office will provide a strong practice in solid waste serving both commercial and municipal clients with complete resource/recovery and landfill services.

While HLA looks forward to the new business opportunities these offices afford us, we also look forward to becoming involved in these communities as residents, citizens, and friends. We intend to do our part to become valuable members of these communities.

Harding Lawson Associates, a wholly owned subsidiary of Harding Lawson Associates Group, Inc. (Nasdaq Stock Market symbol: HRDG) is a fully integrated engineering and construction services company providing services nationally and internationally.

10/1/97

HARDING LAWSON ANNOUNCES IMPROVED FIRST QUARTER RESULTS

NOVATO, California, October 1, 1997 -- Harding Lawson Associates Group, Inc. (Nasdaq Stock Market symbol: HRDG) today reported substantially improved first fiscal quarter results for the period ending August 31, 1997.

Net revenue for the quarter was $21.7 million, compared with $21.0 million in the first quarter of the prior fiscal year, an increase of 3 percent. Operating income was $1.3 million compared with $0.3 million in the same period last fiscal year. Net income for the quarter was $0.9 million, or $0.19 per common share on 4.9 million weighted average shares outstanding, an increase of over 300 percent, compared with $0.2 million or $0.05 per common share on 4.9 million shares in the same period last fiscal year.

"We are pleased that the operating strength exhibited in the second half of the last fiscal year has continued into this year’s first quarter," said Donald L. Schreuder, president and chief executive officer of the company. "Cash flow remained strong with a cash balance of $23 million at quarter end. We are continuing an aggressive effort to leverage this financial strength by pursuing both internal and external growth opportunities in the environmental, infrastructure and information technology areas."

Except for the historical information contained herein, this news release contains forward-looking statements regarding the company’s business strategy that involve risks and uncertainties, including the ability of the company to leverage its current financial strength to promote internal or external growth, the strength of the economy domestically and internationally, and such risks and uncertainties as are described in reports and other documents filed by the company from time to time with the Securities and Exchange Commission.

Harding Lawson Associates Group, Inc. through its domestic and international subsidiaries provides a broad range of engineering, consulting and construction services to industrial and public sector clients. The company, founded in 1957, has offices nationwide and in Australia, and Mexico.

HARDING LAWSON ASSOCIATES GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)

(UNAUDITED)

 

Three Months Ended
August 31,

 

1997

1996

Net Revenue

$21,681

$20,979

Cost and expenses:    
   Payroll and benefits

14,592

14,787

   General expenses

5,762

5,888

   Total costs and expenses

20,354

20,675

Operating Income

1,327

304

Equity investment (loss)

(50)

(53)

Interest income, net

264

184

Income before provision for income taxes and minority interest

1,541

435

Provision for income taxes

645

205

Minority interest

(24)

4

Net income

$920

$226

Net income per common share

$0.19

$0.05

Shares used in per share
   calculation

4,928

4,920

7/21/97

HARDING LAWSON ANNOUNCES IMPROVED FOURTH QUARTER AND YEAR-END RESULTS

NOVATO, California, July 21, 1997 -- Harding Lawson Associates Group, Inc., (Nasdaq Stock Market: HRDG) today reported the fourth fiscal quarter and fiscal year results for the period ended May 31, 1997.

Net revenue for the quarter was $22.5 million, up 12 percent from the fourth quarter of the prior fiscal year of $20.0 million. Operating income in the fourth quarter was $1.8 million compared to a loss of $1.7 million the fourth quarter of the prior fiscal year. The net income in the quarter was $1.0 million, or $0.20 per share on 4.9 million weighted average shares outstanding compared to a net loss of $1.0 million, or $(0.21) per share on 4.9 million shares in the same period last year.

Net revenue for the fiscal year was $84.3 million, down two percent from $85.7 million in the prior fiscal year. Operating income was $4.1 million compared with $0.8 million in the prior year, an increase of nearly 400 percent. Net income was $2.4 million, or $0.49 per share on 5.0 million weighted average shares outstanding, compared with $1.0 million, or $0.20 per share on 4.9 million shares.

Donald L. Schreuder, president and chief executive officer, stated, "We are pleased with the continued improvement in our operating performance in the fourth quarter, which was the best fourth quarter in terms of net income and earnings per share in the last five years. While the quarter was helped by unusually strong activity on several large projects, our focus on cost control and cash flow supported our improved earnings and an increase in our cash position to over $24 million at fiscal year end. With stable operating performance and a strong balance sheet, we are now positioned to aggressively address diversification opportunities in our core environmental and infrastructure services businesses, as well as in information management consulting, a growing service line for the firm. We are aggressively pursuing both internal growth ventures and acquisitions in these areas."

Except for the historical information contained herein, this news release contains forward-looking statements regarding the company’s business strategy that involve risks and uncertainties, including the demand for the company’s services, overall government funding and spending for environmental projects, changes in legislative priorities related to environmental regulation and enforcement and the strength of the economy domestically and internationally, and such risks and uncertainties as are described in reports and other documents filed by the company from time to time with the Securities and Exchange Commission.

Harding Lawson Associates Group, Inc. through its domestic and international subsidiaries provides a broad range of engineering, consulting and construction services to industrial and public sector clients. The company, founded in 1957, has offices nationwide and in Australia and Mexico.

Harding Lawson Associates Group, INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(UNAUDITED)

 

Three Months Ended
May 31,

Years Ended
May 31,

 

1997

1996

1997

1996
Net Revenue

$22,495

$20,009

$84,276

$85,655

Cost and expenses:        
   Payroll and benefits

14,538

14,529

56,647

59,033

   General expenses

6,192

7,209

23,517

25,783

   Total costs and expenses

20,730

21,738

80,164

84,816

Operating Income (loss)

1,765

(1,729)

4,112

839

Interest in loss of unconsolidated  
   subsidiary

(255)

--

(545)

--
Interest income, net

197

190

721

808

Income before provision for income taxes
   and minority interest

1,707

(1,539)

4,288

1,647

Provision for income taxes

759

(507)

1,892

750

Minority interest

(18)

(12)

(8)

(56)

Net income (loss)

$966

$(1,020)

$2,404

$953

Net income per common share

$ .20

$ (.21)

$ .49

$ .20

Shares used in per share
   calculation

4,921

4,865

4,953

4,851

4/14/97 HARDING LAWSON ASSOCIATES REPORTS THIRD QUARTER RESULTS

NOVATO, California, March 27, 1997 -- Harding Lawson Associates Group, Inc. (Nasdaq Stock Market: HRDG) today announced operating results for the third fiscal quarter that ended February 28, 1997.

Net revenue for the quarter was $19.5 million compared with $20.2 million in the third quarter of the prior fiscal year, a decline of 3.5 percent. Operating income was $0.8 million compared to an operating loss in the third quarter of the prior fiscal year of $0.2 million. Net income was $0.5 million, or $0.09 per share on 5.0 million weighted average shares outstanding, compared with $0.1 million, or $0.02 per share on 4.9 million shares last year.

Net revenue for the nine months was $61.8 million compared with $65.6 million for the same period of the prior fiscal year, a decline of 5.9 percent. Operating income for the nine month period was $2.3 million compared with $2.6 million last year. Net income was $1.4 million, or $0.29 per share on 5.0 million weighted average shares outstanding, compared with $2.0 million, or $0.41 per share on 4.8 million shares last year.

Donald L. Schreuder, chief executive officer, commented, "We are pleased with our improved earnings performance in the third quarter, which reflects considerable progress in reducing our cost structure in the first half of this fiscal year. The revenue decline in the quarter, as in the past four quarters, resulted from the winding down of several large federal contracts coupled with reduced federal spending in the environmental area. During the current fiscal year we have been successful in winning over $100 million in new federal contracts, including continuing service contracts connected with base closure work at Fort Ord, California and the Rocky Mountain Arsenal in Colorado. These new contracts should have a positive impact on revenue beginning in the fourth quarter. The firm's domestic backlog, including both industrial and federal contracts, was at a record high $70 million at the end of the third quarter."

Harding Lawson Associates Group, Inc. through its domestic and international subsidiaries provides a broad range of environmental and infrastructure consulting, engineering and construction services to industrial and public sector clients. The company, founded in 1957, has offices nationwide and in Australia, Indonesia, Mexico and Singapore.

Harding Lawson Associates Group, INC.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(UNAUDITED)

 

Three Months Ended
February 28,

Nine Months Ended
February 28,

 

1997

1996

1997

1996
Net Revenue

$19,520

$20,237

$61,781

$65,646

Cost and expenses:        
   Payroll and benefits

13,102

14,150

42,109

44,504

   General expenses

5,605

6,250

17,325

18,574

   Total costs and expenses

18,707

20,400

59,434

63,078

Operating Income (loss)

813

(163)

2,347

2,568

Interest in loss of unconsolidated  
   subsidiary

(180)

 

(290)

 
Interest income, net

183

248

524

618

Income before provision for income taxes
   and minority interest

816

85

2,581

3,186

Provision for income taxes

370

34

1,133

1,257

Minority interest

(16)

(28)

10

(44)

Net income

$462

$79

$1,438

$1,973

Net income per common share

$ .09

$  .02

$  .29

$  .41

Shares used in per share
   calculation

4,974

4,866

4,963

4,847

3/4/97 HARDING LAWSON AWARDED $20 MILLION RMA CONTRACT

NOVATO, California, March 4, 1997 -- Harding Lawson Associates Group, Inc. (Nasdaq Stock Market: HRDG) announced today that they were awarded a $20 million contract by the US Army Chemical Biological Defense Command (CBDCOM) to support the Army's environmental programs throughout the US. This Indefinite Delivery/Indefinite Quantity contract will run five years supporting cleanup and monitoring efforts at Rocky Mountain Arsenal (RMA) and seven other CBDCOM facilities in Alabama, Colorado, Kentucky, Indiana, Maryland, Oregon and Utah. The Army has stated its intention to use this contract for regulatory compliance, environmental investigations, risk assessments, treatability and pilot studies, remedial action decision documents, monitoring, conceptual design, implementation plans, program management and community relations.

Dr. Arthur "Sandy" Riese, president of Harding Lawson Associates, Inc. (HLA), the company's domestic environmental division, stated, "This contract award represents an outstanding opportunity for HLA to continue to serve RMA and CBDCOM in a partnership that began in 1984. This marks our third continuous prime contract with RMA. We look forward to the opportunity that this new contract affords for HLA to extend our expertise to other CBDCOM facilities across the US."

Harding Lawson Associates Group, Inc., through its various subsidiaries provides a broad range of engineering and construction services to industrial and public sector clients. Founded in 1957, the company has offices nationwide and in Australia, Indonesia, Mexico and Singapore.

3/3/97 HLA AWARDED CONTRACT IN NORTH CAROLINA

Raleigh, North Carolina, March 3, 1997 -- Harding Lawson Associates, Inc. (HLA), a subsidiary of Harding Lawson Associates Group, Inc. (Nasdaq Stock Market: HRDG) has been awarded a four-year contract to manage the continuing technical effort for characterization, design and licensing of the Wake County low-level radioactive waste disposal facility in Wake County, North Carolina. The awarding agency, the North Carolina Low-Level Radioactive Waste Management Authority, is responsible for the development of the facility which is to serve seven states in the southeastern U.S., in accordance with the federal Low-Level Radioactive Waste Policy Amendments Act.

The project is being restarted again after being shut down for almost a year due to funding disputes between the Southeast Compact Commission and the State of North Carolina. The duration of the new contract is four years, with funding presently approved for the first six months.

Ronald K. Gaynor, Vice President of HLA and Project Manager said, "This project is important for the continued safe management of low-level radioactive waste produced by high technology, medical and electric power industries in the southeast. We are pleased to have been chosen by the Authority to lead the licensing and development effort." The project will be managed in HLA's recently expanded and relocated office in Morrisville, North Carolina.

Harding Lawson Associates Group, Inc., through its domestic and international subsidiaries, provides a broad range of engineering, environmental and construction services to industrial and public sector clients. The company, founded in 1957, has offices nationwide and in Australia, Indonesia, Mexico and Singapore.

Contact:
Patricia A. England, (415) 899-8817 or
Ronald K. Gaynor, (919) 787-0732

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