financial highlights *Excludes extraordinary items for 1998 and 1997. A Fortune 500 Company and one of “America’s Most Admired” organizations (Fortune, March 2002), EMCOR Group is the world’s leading provider of mechanical and electrical construction and facilities services, including planning, consulting, and operations and maintenance. EMCOR is a network of over 65 companies. We employ approximately 24,000 people at over 130 locations throughout the US, Canada, the United Kingdom and in selected locations in Europe, the Middle East, Far East and South Africa. table of contents (In thousands of Dollars, except per share data) 2001 2000 1999 1998 1997 Revenues 3,419,854 3,460,204 2,893,962 2,210,374 1,950,868 Gross profit 391,823 357,817 295,907 223,287 182,183 Operating income 88,682 78,925 58,091 37,224 27,414 Income before income taxes* 89,474 71,587 49,678 29,741 15,462 Net income 50,012 40,089 27,821 12,315 7,577 Basic earnings per share* 3.86 3.84 2.86 1.67 0.90 Diluted earnings per share* 3.40 2.95 2.21 1.46 0.84 Stockholders’ equity 421,933 233,503 170,249 119,816 95,323 Backlog 2,361,834 1,795,486 1,769,792 1,329,944 997,810 Letter to Stockholders 1 Introduction 4 EMCOR is the Natural Choice 10 Business Overview 14 Financials 17