For the three months ended September 30, 2009, the consolidated revenue of Enterprise (TSX:E) amounted to $6.6 million, compared to $8.7 million for the same period last year, a decrease of $2.1 million. The consolidated revenue for the nine month period ended September 30, 2009 was $20.1 million compared to $28.1 million for the nine months ended September 30, 2008, a decrease of $8.0 million. The decrease in revenue is attributed to less than anticipated projects in the industry resulting from tight capital markets, decreased capital expenditures and lower oil and natural gas prices. The Company had negative EBITDAS of $183 thousand and a net loss of $1.1 million during the three month period ended September 30, 2009, compared to EBITDAS of $1.6 million and net income of $588 thousand for the three month period ended September 30, 2008. Negative EBITDAS for the nine months ended September 30, 2009 was $391 thousand with a net loss of $2.3 million compared to EBITDAS of $4.2 million and a net income of $1.3 million for the nine months ended September 30, 2008. The reduction of EBITDAS is attributable to lower than expected revenue and margins on energy sector projects. The low margins in the energy sector were offset by significantly higher margins in the utilities and infrastructure sector.

The company continues to monitor its overheads and reduce costs where necessary while maintaining the effectiveness of the operations. Equipment costs, operational costs and G&A costs are all under review. For the third quarter ended September 30, 2009 management targeted old, redundant and underutilized equipment. This equipment was sold resulting in proceeds on disposal of $788 thousand. These proceeds were used to pay down long term debt and contribute towards operating capital. For the nine months ended September 30, 2009, proceeds on disposal of equipment totaled $1.0 Million. In addition to managing our equipment fleet, we continued with aggressive repayment of our long term debt, repaying $1.1 million in the third quarter of 2009, and $3.4 million for the nine months ended September 30, 2009. The company intends eliminate its long term debt bank debt inside of the 2010 fiscal year.

(1) EBITDAS = Earnings Before Interest, Taxes, Depreciation, Amortization and Stock Based Compensation