XML 32 R21.htm IDEA: XBRL DOCUMENT v3.19.1
Restatement of Unaudited Condensed Consolidated Financial Statements (Tables)
 3 Months Ended
Oct. 27, 2018
Restatement of Unaudited Condensed Consolidated Financial Statements [Abstract]  
Restatement of Unaudited Condensed Consolidated Financial Statements
The “As Previously Reported” amounts in the tables below represent the amounts reported in the Company’s Quarterly Report on Form 10-Q for the quarter year ended October 28, 2017, filed with the SEC on December 12, 2017.

Ecology and Environment Inc.
Condensed Consolidated Statement of Operations
(amounts in thousands, except share data)

  
Three Months Ended October 28, 2017
 
  
As
Previously
Reported
  
GAC
Deconsolidation
Adjustments
  
Out of Period
Adjustments
  
Restated
 
             
Gross revenue
 
$
27,082
  
$
(2,112
)
 
$
1,135
  
$
26,105
 
                 
Direct cost of services
  
9,480
   
(862
)
  
-
   
8,618
 
Subcontract costs
  
5,729
   
(459
)
  
1,079
   
6,349
 
Selling, general and administrative expenses
  
10,509
   
(727
)
  
-
   
9,782
 
Depreciation and amortization
  
270
   
(10
)
  
-
   
260
 
                 
Income from operations
  
1,094
   
(54
)
  
56
   
1,096
 
                 
Income from equity method investment
  
-
   
18
   
-
   
18
 
Net interest income (expense)
  
(5
)
  
7
   
-
   
2
 
Net foreign exchange (loss) gain
  
3
   
2
   
-
   
5
 
                 
Income before income tax provision
  
1,092
   
(27
)
  
56
   
1,121
 
Income tax provision
  
444
   
(12
)
  
1
   
433
 
                 
Net income
  
648
   
(15
)
  
55
   
688
 
                 
(Income) loss attributable to noncontrolling interests
  
(115
)
  
15
   
-
   
(100
)
                 
Net income attributable to Ecology and Environment, Inc.
 
$
533
  
$
-
  
$
55
  
$
588
 
                 
Net income per common share: basic and diluted
 
$
0.12
          
$
0.14
 
                 
Weignted average common shares outstanding:basic and diluted
  
4,301,604
           
4,301,604
 

Ecology and Environment Inc.
Condensed Consolidated Statement of Comprehensive Income
(amounts in thousands)

  
Three Months Ended October 28, 2017
 
  
As
Previously
Reported
  
GAC
Deconsolidation
Adjustments
  
Out of Period
Adjustments
  
Restated
 
             
Net income including noncontrolling interests
 
$
648
  
$
(15
)
 
$
55
  
$
688
 
Foreign currency translation adjustments
  
29
   
(43
)
  
-
   
(14
)
Unrealized investment (losses) gains, net
  
(3
)
  
-
   
-
   
(3
)
                 
Comprehensive income
  
674
   
(58
)
  
55
   
671
 
Comprehensive (income) loss attributable to noncontrolling interests
  
(129
)
  
35
   
-
   
(94
)
                 
Comprehensive income attributable to EEI
 
$
545
  
$
(23
)
 
$
55
  
$
577
 

Ecology and Environment Inc.
Condensed Consolidated Statement of Cash Flows
(amounts in thousands)

  
Three Months Ended October 28, 2017
 
  
As
Previously
Reported
  
Impact of
GAC
Deconsolidation
  
Other
Adjustments
  
Restated
 
             
Cash flows from operating activities:
            
Net income
 
$
648
  
$
(15
)
 
$
55
  
$
688
 
Adjustments to reconcile net income to net cash provided by operating activities:
                
Depreciation and amortization
  
270
   
(10
)
  
-
   
260
 
Provision for deferred income taxes
  
(21
)
  
(269
)
  
12
   
(278
)
Share based compensation expense
  
-
   
-
   
47
   
47
 
Net bad debt expense (recovery)
  
39
   
(11
)
  
-
   
28
 
Changes in:
                
- contract receivables
  
4,470
   
(489
)
  
(1,315
)
  
2,666
 
- other current assets
  
(692
)
  
16
   
168
   
(508
)
- income tax receivable
  
969
   
286
   
(11
)
  
1,244
 
- equity method investment
  
-
   
(18
)
  
-
   
(18
)
- other non-current assets
  
20
   
(9
)
  
3
   
14
 
- accounts payable
  
(1,298
)
  
(8
)
  
1,138
   
(168
)
- accrued payroll costs
  
(776
)
  
(8
)
  
-
   
(784
)
- income taxes payable
  
(7
)
  
2
   
-
   
(5
)
- customer deposits
  
836
   
166
   
-
   
1,002
 
- other accrued liabilities
  
35
   
-
   
-
   
35
 
Net cash provided by (used in) operating activities
  
4,493
   
(367
)
  
97
   
4,223
 
                 
Cash flows from investing activities:
                
Purchase of property, building and equipment
  
(104
)
  
4
   
-
   
(100
)
Purchase of investment securities
  
(8
)
  
-
   
-
   
(8
)
Net cash (used in) provided by investing activities
  
(112
)
  
4
   
-
   
(108
)
                 
Cash flows from financing activities:
                
Dividends paid
  
(860
)
  
-
   
-
   
(860
)
Repayment of debt
  
(239
)
  
-
   
-
   
(239
)
Net borrowings (repayment) of lines of credit
  
(377
)
  
215
   
-
   
(162
)
Distributions to noncontrolling interests
  
(49
)
  
-
   
-
   
(49
)
Net cash (used in) provided by financing activities
  
(1,525
)
  
215
   
-
   
(1,310
)
                 
Effect of exchange rate changes on cash and cash equivalents
  
22
   
(10
)
  
(2
)
  
10
 
                 
Net increase (decrease) in cash, cash equivalents and restricted cash
  
2,878
   
(158
)
  
95
   
2,815
 
Cash, cash equivalents and restricted cash at beginning of period
  
13,343
   
(208
)
  
-
   
13,135
 
                 
Cash, cash equivalents and restricted cash at end of period
 
$
16,221
  
$
(366
)
 
$
95
  
$
15,950