Abrams Reports Fourth Quarter and Year End Results

Abrams Reports Fourth Quarter and Year End Results 


ATLANTA, July 6  /PRNewswire-FirstCall/ -- ABRAMS INDUSTRIES, INC.
(NASDAQ:ABRI), an energy services, facilities solutions and real estate
company, today reported net earnings of $2,632,711, or $.82 per share for the
fourth fiscal quarter ended April 30, 2005, compared to net earnings of
$1,038,157, or $.34 per share, for the same period last year. For the year
ended April 30, 2005, the Company reported net earnings of $1,800,358, or $.56
per share, compared to a net loss of ($1,850,126), or ($.62) per share, in the
prior year. Fourth quarter revenues from continuing operations were $5,818,353,
an increase of approximately 23% from last year. For the full fiscal year,
revenues from continuing operations were $22,795,356, up approximately 84% from
the comparable year-earlier period.

Commenting on the results, Alan R. Abrams, Co-Chairman, President and CEO,
stated: "We enjoyed a year of progress and achievement, as each of our three
operating segments contributed to our higher revenues. The operating profits of
our new energy services segment improved dramatically, and we were able to
realize meaningful value and generate significant earnings from our real estate
holdings. With these operating successes, we ended the fiscal year with a 45%
increase in working capital and improved financial flexibility.  We are
endeavoring to redeploy a portion of our capital in additional income producing
properties, and we believe we are well positioned to continue our strategy of
pursuing business acquisitions that expand our portfolio of building
performance products and services."

Established in 1925, Abrams Industries, operating nationwide through its wholly
owned subsidiaries, offers a variety of energy efficiency services and facility
resource management solutions, and engages in commercial real estate investment
and development.  The Company provides energy engineering and analytical
consulting services, Web-enabled service and maintenance management software
solutions, and turnkey implementation of energy saving lighting programs and
related energy services, which help its customer base of energy services
companies and multi-site owners and operators of office, hospitality, retail,
educational, institutional, industrial, multi-family, government, and health
care buildings, proactively manage facility resources and reduce energy
consumption and other facility-related expenses, while improving occupant
satisfaction.  The Company also currently owns or controls over 800,000 square
feet of shopping centers in the Midwest and Southeast and more than 200,000
square feet of office properties in metropolitan Atlanta, Georgia. For more
information about Abrams Industries, please visit
http://www.abramsindustries.com/ or call 770-953-0304.

Certain statements contained in this news release are forward-looking
statements within the meaning of the federal securities laws.  Such forward-
looking statements involve known and unknown risks, uncertainties and other
matters which may cause the actual results, performance or achievements of
Abrams Industries, Inc. to be materially different from any past or future
results, performance, or uncertainties expressed or implied by such forward-
looking statements. Abrams Industries, Inc. does not undertake to update these
forward-looking statements.

                         CONDENSED CONSOLIDATED RESULTS OF OPERATIONS
                                         (UNAUDITED)

                           Fourth Quarter Ended           Year Ended
                                 April 30,                 April 30,
                              2005       2004          2005        2004
   Revenues from
    Continuing Operations  $5,818,353  $4,729,404  $22,795,356  $12,382,949

   Net Loss from
    Continuing Operations   $(583,382)  $(870,663) $(1,503,773) $(2,757,405)
   Net Earnings (Loss)
    from Discontinued
    Operations              3,216,093   1,908,820    3,304,131      907,279
   Net Earnings (Loss)     $2,632,711  $1,038,157   $1,800,358  $(1,850,126)
   Net Earnings (Loss)
    per share from:
      Continuing
       Operations -
       Basic and
       Diluted                 $(0.18)     $(0.28)      $(0.47)      $(0.93)
      Discontinued
       Operations -
       Basic and
       Diluted                   1.00        0.62         1.03         0.31
   Net Earnings (Loss)
    per share - Basic
    and Diluted                 $0.82       $0.34        $0.56       $(0.62)


DATASOURCE: Abrams Industries, Inc.



CONTACT:  Alan R. Abrams, Co-Chairman, President & Chief Executive

Officer of Abrams Industries, Inc., [phone], or

 



Web site:  http://www.abramsindustries.com/ 

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