August 13, 2007 at 12:56 PM EDT
Adams Resources Announces Second Quarter Earnings

HOUSTON, Aug. 13 /PRNewswire-FirstCall/ -- Adams Resources & Energy, Inc. (AMEX:AE) announced second quarter 2007 unaudited net earnings of $11,286,000 or $2.67 per common share. Revenues for the quarter totaled $569,748,000. Current earnings compare to unaudited second quarter 2006 net earnings of $4,038,000 or $.96 per common share. For the six months ended June 30, 2007, net earnings were $12,198,000 or $2.89 per common share.

Chairman and Chief Executive Officer, K.S. "Bud" Adams, Jr., attributed the earnings improvement to a $7.2 million after tax gain from the sale of certain producing oil and gas properties. Mr. Adams noted that the Company's marketing and transportation segments also turned in improved results for the current period.



    A summary of operating results is as follows:

                                                        Second Quarter
                                                     2007           2006
    Operating Earnings (Expense)
      Marketing                                   $5,216,000     $3,706,000
      Transportation                               2,433,000      1,974,000
      Oil and gas                                 12,528,000      2,140,000
      General & administrative expenses           (2,582,000)    (2,004,000)
                                                  17,595,000      5,816,000
    Interest, net                                    424,000        120,000
    Income tax provision                          (6,733,000)    (1,898,000)

    Net earnings                                 $11,286,000     $4,038,000


The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. A number of factors could cause actual results or events to differ materially from those anticipated. Such factors include, among others, (a) general economic conditions, (b) fluctuations in hydrocarbon prices and margins, (c) variations between crude oil and natural gas contract volumes and actual delivery volumes, (d) unanticipated environmental liabilities or regulatory changes, (e) counterparty credit default, (f) inability to obtain bank and/or trade credit support, (g) availability and cost of insurance, (h) changes in tax laws, (i) the availability of capital, (j) changes in regulations, (k) results of current items of litigation, (l) uninsured items of litigation or losses, (m) uncertainty in reserve estimates and cash flows, (n) ability to replace oil and gas reserves, (o) security issues related to drivers and terminal facilities, (p) commodity price volatility, (q) demand for chemical based trucking services, and (r) successful completion of drilling activity. These and other risks are described in the Company's reports that are on file with the Securities and Exchange Commission.



             UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
                      (In thousands, except per share data)

                               Six Months Ended         Three Months Ended
                                    June 30,                 June 30,
                               2007        2006         2007         2006

    Revenues               $1,056,114     $1,083,028   $569,748    $595,000

    Costs, expenses
     and other             (1,036,932)    (1,071,538)  (551,729)   (589,064)
    Income tax provision       (6,984)        (3,808)    (6,733)     (1,898)

    Net earnings              $12,198         $7,682    $11,286      $4,038

    Earnings per share
    Basic and diluted net
     earnings per
     common share               $2.89          $1.82      $2.67        $.96

    Dividends per
     common share                 $--           $--        $--          $--



                  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
                                  (In thousands)
                                                    June 30,     December 31,
                                                      2007           2006

    ASSETS
      Cash                                           $21,811        $20,668
      Other current assets                           233,047        221,122
        Total current assets                         254,858        241,790

    Net property & equipment                          42,123         43,316
    Other assets                                       5,965          4,181
                                                    $302,946       $289,287

    LIABILITIES AND EQUITY
      Total current liabilities                     $209,099       $206,582
      Long-term debt                                      --          3,000
      Deferred taxes and other                         7,281          5,337
      Shareholders' equity                            86,566         74,368
                                                    $302,946       $289,287



     Rick Abshire (713) 881-3609

Source: Adams Resources & Energy, Inc.

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