ABRI Abrams Industries (MM)

ATLANTA, March 15 /PRNewswire-FirstCall/ -- ABRAMS INDUSTRIES, INC. (NASDAQ:ABRI), an energy services, facilities solutions and real estate company, today announced that its SEC form 10Q quarterly report, filed today, reflects net earnings of $493,530 or $.14 per share for the third quarter ended January 31, 2006, compared to a net loss of $248,240 or $.07 per share, for the same period last year. For the nine month period ended January 31, 2006, the Company reported net earnings of $133,590 or $.04 per share, compared to a net loss of $832,354, or $.24 per share, in the same period of the prior year. Commenting on the results, Alan R. Abrams, Co-Chairman, President and CEO, stated: "We continue to make progress and I am pleased to announce these favorable results. The gross profit margins of our Energy & Facilities Solutions and Energy Services segments continued to strengthen, and I am encouraged by how well our newest building performance products and services are being received by our customers. The third quarter results include a pre- tax gain of approximately $1.37 million on the sale of the medical office building in Douglasville, Georgia, that we acquired in 2004. We intend to re- deploy the proceeds from this sale by purchasing an additional income producing property, and thereby defer the income taxes otherwise payable on the gain." 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 approximately 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, 2006 2005 2006 2005 Revenues from Continuing Operations $4,544,230 $4,760,669 $13,803,807 $15,985,074 Net Loss from Continuing Operations $(255,403) $(275,733) $(550,523) $(829,984) Net Earnings (Loss) from Discontinued Operations 748,933 27,493 684,113 (2,370) Net Earnings (Loss) $493,530 $(248,240) $133,590 $(832,354) Net Earnings (Loss) per share from: Continuing Operations -Basic and Diluted $(0.07) $(0.08) $(0.15) $(0.24) Discontinued Operations -Basic and Diluted 0.21 0.01 0.19 - Net Earnings (Loss) per share-Basic and Diluted $0.14 $(0.07) $0.04 $(0.24) DATASOURCE: Abrams Industries, Inc. CONTACT: Alan R. Abrams, Co-Chairman, President & Chief Executive Officer of Abrams Industries, Inc., +1-770-953-0304, or Web site: http://www.abramsindustries.com/

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