Abrams Reports Third Quarter and Nine Month Results

Abrams Reports Third Quarter and Nine Month Results 


ATLANTA, March 17  /PRNewswire-FirstCall/ -- ABRAMS INDUSTRIES, INC.
(NASDAQ:ABRI), an energy services, facilities solutions and real estate
company, today reported that revenues from continuing operations were
$5,644,619 in the third quarter, ended January 31, 2005, up 87% from last
year's $3,023,768, and were $17,503,003 for the nine months ended January 31,
2005, compared to $8,091,049 in the prior year period, an increase of 116%. The
Company reduced its net loss by 72% to $248,240 in the third quarter ended
January 31, 2005, compared to the net loss of $883,181 in the same period a
year ago. For the nine months ended January 31, 2005, the net loss was
$832,354, 71% below last year's net loss of $2,888,283.

The third quarter and nine month results did not include the Company's recently
announced sale of its shopping center in Cincinnati, Ohio, which occurred in
February 2005 and resulted in a pre-tax gain on the sale of approximately
$850,000 and net cash proceeds of approximately $3.45 million.

Alan R. Abrams, Co-Chairman, President and CEO, stated: "I am pleased by the
continuing progress at each of our operating segments. All of our employees are
fully committed to these efforts. I am particularly encouraged by our growing
revenue stream from energy services and facility solutions. Our total backlog
at January 31, 2005, was approximately 50% higher than a year ago, and backlog
of energy services and facility solutions alone grew approximately 177%
year-over-year. The increase in backlog reflects an expansion of our customer
base in the educational, government, retail, office and hospitality sectors."

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, residential, 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 900,000 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)

                           Third Quarter Ended    First Nine Months Ended
                               January 31,              January 31,
                            2005        2004        2005         2004
  Revenues from Continuing
   Operations            $5,644,619  $3,023,768 $17,503,003   $8,091,049

  Net Loss from Continuing
   Operations             $(281,868)  $(519,614)  $(898,930) $(1,848,812)
  Net Earnings (Loss) from
   Discontinued Operations   33,628    (363,567)     66,576   (1,039,471)
  Net Loss                $(248,240)  $(883,181)  $(832,354) $(2,888,283)
  Net Earnings (Loss)
   per share from:
    Continuing Operations -
     Basic and Diluted       $(0.09)     $(0.18)     $(0.28)      $(0.63)
    Discontinued Operations -
     Basic and Diluted         0.01       (0.12)       0.02        (0.35)
  Net Loss per share -
   Basic and Diluted         $(0.08)     $(0.30)     $(0.26)      $(0.98)


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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