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## Highlights 

Revenues for the year ended December 31, 2000 were $3.46 billion, compared to $2.89 billion and $2.21 billion for the years ended December 31, 1999 and 1998, respectively. Income before extraordinary item was $40.1 million for 2000, an increase of $12.3 million, or 44.1%, from $27.8 million for 1999. For 1998, income before extraordinary item was $17.1 million. Diluted earnings per share on income before extraordinary item were $2.95 per share for 2000, compared to $2.21 per share for 1999 and $1.46 per share for 1998. 

## Operating Segments 

EMCOR’s business consists of the following operating segments: United States electrical construction and facilities services, United States mechanical construction and facilities services, Canada construction and facilities services and United Kingdom construction and facilities services. United States other services primarily represents those operations which principally provide consulting and maintenance services. Other international construction and facilities services represents EMCOR’s operations outside of the United States, Canada, and the United Kingdom, primarily South Africa and the Middle East, performing electrical construction, mechanical construction and facilities services. 

## Results of Operations 

## Revenues 

Revenues for the year ended December 31, 2000 increased 19.6% to $3.46 billion, compared to $2.89 billion of revenues for 1999. The $566.2 million increase in revenues for 2000 compared to 1999 was attributable to revenue growth from EMCOR’s operations (excluding Building Technology Engineers of North America, LLC (“BTENA”) and 1999 acquisitions) of $420.2 million, and to revenues from BTENA and 1999 acquisitions which approximated $146.0 million in incremental revenues during 2000. Revenues for 1999 of $2.89 billion represented a 30.9% increase over revenues of $2.21 billion for 1998. Companies acquired during 1999 and 1998 accounted for approximately $476.1 million of the $683.6 million increase in 1999 revenues over 1998. 

The following table presents EMCOR’s revenues by operating segment and the approximate percentage of total revenues for the years ended December 31, 2000, 1999 and 1998: 

<img src='content_image/50679.jpg'>

