Stantec has record annual results

    “In our 53rd consecutive year of profitability I’m pleased to announce continued strong growth in our fourth quarter and annual results,” said Tony Franceschini, Stantec president and CEO. “This year we focused on integrating the approximately 1,400 employees we added to Stantec in 2005 and 2006 and the ongoing execution of our plan to become a top-10 global design firm.”
    Stantec, which has offices in Presque Isle and Portland, released the following information:
• For the full year 2006, Stantec generated gross revenue of C$816.1 million, a 32.1 percent increase from C$618.0 million last year. Net revenue was C$707.9 million, up 35 percent compared to C$524.6 million in 2005 and net income increased 48.2 percent to C$60.2 million from C$40.6 million. Diluted earnings per share were 32.3 percent higher at C$1.31 compared to C99 cents in 2005.
• In the fourth quarter 2006, gross revenue increased to C$211.8 million from C$180.6 million in 2005, an increase of 17.3 percent. Net revenue increased 18.9 percent to C$180.6 million compared to C$151.9 million in the fourth quarter of 2005 and net income was up 95.7 percent to C$15.6 million compared to C$8.0 million. Diluted earnings per share were up 100 percent to C34 cents compared to C17 cents in the fourth quarter last year. The increase in net income and earnings per share is mainly due to the decrease in productivity levels in the fourth quarter of 2005 from the integration of over 1,000 new employees and system conversions related to The Keith Companies and Keen Engineering acquisitions. In the fourth quarter, 2006, Stantec had no similar integrations.
• In 2006, Stantec added three companies; the 20-person electrical engineering firm Carinci Burt Rogers Engineering, Inc. in Toronto, Ontario; Dufresne-Henry, a multidiscipline firm with over 270 employees and offices in New England, New York and Florida; and ACEx Technologies, Inc., a 25-person firm specializing in transit, rail and power communications, and control systems engineering with offices in Oakland, California and Irving, Texas. In May of 2006, the company also completed a two-for-one share split.
     Stantec’s advantage is the ability to use its diverse service offering and geographic reach and operate as one team throughout North America. For example, in 2006 the firm won acclaim for its sustainable design work in Vancouver, British Columbia on Southeast False Creek, a 36-hectare (80-acre) mixed-use ‘green’ community being developed as the 2010 Olympic Athletes Village on a reclaimed industrial site in the inner city and is a pilot project for the LEED® New Community Standard. As leaders of the infrastructure design team, Stantec prepared the urban design and site servicing plan for the community, bringing together expertise in project management, urban design and civil, structural, electrical and mechanical engineering. The firm created innovative stormwater retention and bio-filtration systems, a district heating system recovering heat from sanitary sewers resulting in a zero net energy residential building, along with parks, plazas, waterfront walkways, roadways and street lighting for the development. In Klickitat County, Washington, a Stantec team made up of employees from Portland, Oregon and Edmonton, Alberta are working for PPM Energy on the Big Horn Wind Project providing consulting and design services for the development of a 133-turbine wind farm. In Manitoba, Stantec’s Buildings and Environment groups teamed up to serve as the prime consultant, providing all civil, mechanical, electrical and structural engineering services as well as architecture and project management, for a major expansion of the South End Water Pollution Control Centre for the City of Winnipeg.
    “We have to give credit for our performance this year to our employees across North America and the Caribbean,” says Franceschini.     For more information, visit www.stantec.com.
    Stantec’s Annual Meeting of Shareholders will be held on May 3, at 1 p.m. EDT (11 a.m. MDT) at Stantec’s headquarters in Edmonton, Alberta, 10160-112th Street. The Q4/Year-End Conference Call, was held Feb. 22 and will be archived on Stantec’s Web site at stantec.com in the Investor Relations section.