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[Thomwaye]

KSW-first quarter results

KSW, Inc. (AMEX: KSW) today reports financial results for the first quarter of 2007.

Total revenue for the first quarter of 2007 increased by 14.1%, or $2,230,000, to $17,991,000 as compared to $15,761,000 for the first quarter of 2006. The Company reported net income of $723,000 for the first quarter of 2007 as compared to net income of $346,000 in the first quarter of 2006. This represents earnings per share of $0.12 per share (basic and diluted), for the first quarter of 2007 as compared to an earnings per share of $0.06 per share (basic and diluted), for the first quarter of 2006.

Included in the results of the first quarter 2007, are stock compensation expenses related to the exercising of stock options and the accounting standard SFAS-123(R). Excluding the effect of these stock compensation expenses, the Company earned $905,000, or $0.16 per share (basic) and $0.15 per share (diluted) for the first quarter of 2007, as compared to $0.10 per share (basic and diluted) for the first quarter of 2006.

As of March 31, 2007, the Company's backlog was approximately $108,000,000.