Results of Operations Highlights Operating Segments 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. 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: % of % of % of (In millions, except for percentages) 2000 Total 1999 Total 1998 Total Revenues: United States electrical construction and facilities services $ 1,350.7 39% $ 993.1 34% $ 888.6 40% United States mechanical construction and facilities services 1,253.7 36% 1,053.7 36% 599.6 27% United States other services 172.3 5% 96.2 3% 14.4 1% Total United States operations 2,776.7 80% 2,143.0 74% 1,502.6 68% Canada construction and facilities services 237.0 7% 196.7 7% 201.9 9% United Kingdom construction and facilities services 446.2 13% 553.7 19% 493.3 22% Other international construction and facilities services 0.3 – 0.6 – 12.6 1% Total worldwide operations $ 3,460.2 100% $ 2,894.0 100% $ 2,210.4 100% 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. Management’s Discussion and Analysis of Results of Operations and Financial Condition EMCOR, 2000 Annual Report 17