CECO Environmental Reports Third Quarter and Nine Month 2009 Results

Gross margins continue to improve

CINCINNATI, Nov. 9 /PRNewswire-FirstCall/ -- CECO Environmental Corp. (Nasdaq:
CECE), a leading provider of industrial ventilation and pollution control
systems, today announced third quarter and nine months results for the period
ended September 30, 2009.

Financial highlights for the third quarter of 2009 compared to the third
quarter of 2008 include:

Net sales were $33.2 million for the quarter compared to $55.2 million in the
same quarter last year

Gross profit for the quarter was $7.0 million compared to $11.6 million in the
same quarter last year

Gross margin increased to 21.1% from 20.9%

Selling and administrative expenses decreased $1.5 million to $7.2 million

Net loss was $0.7 million compared to net income of $1.2 million in 2008

Net loss per share was $0.05 compared to net income per share of $0.08 in 2008

Backlog as of September 30, 2009 was $56.1 million

Total debt was reduced by $12.4 million to a total of $14.3 million from $26.7
million as of December 31, 2008

Financial highlights for the nine months ended September 30, 2009 compared to
nine months ended September 30, 2008 include:

Net sales were $106.5 million compared to $159.5 million in the nine month
period last year

Gross profit was $23.3 million compared to $28.3 million in the same period
last year

Gross margin increased to 21.9% from 17.7%

Selling and administrative expenses decreased $1.1 million to $22.5 million

Net loss was $0.9 million compared to net income of $1.7 million in 2008

Net loss per share was $0.07 compared to net income per share of $0.11

Although the company continued to experience a challenging operating
environment due to weak economic conditions, gross margins increased year over
year as a result of reduced costs and a shift in product mix to higher margin
products.

In further response to the economic environment, the Company has continued to
reduce overhead as well as selling and administrative expenses. On a
comparative basis, excluding certain expenses from companies acquired in 2008,
selling and administrative expenses were reduced by $1.6 million or 18.7% for
the three months ended September 30, 2009 and $2.9 million or 12.5% for the
nine month period ended September 30, 2009.

"Our third quarter performance did not meet our expectations as the weak
economic environment continued to negatively affect our financial results,"
said Phillip DeZwirek, CECO's Chairman and CEO. "Notwithstanding, we have
already seen some positive signs in the fourth quarter that coupled with the
cost and operating initiatives that were implemented throughout the year,
should translate into better performance for the rest of the year and into
2010."

President and Chief Operating Officer, Richard Blum, stated, "The third
quarter was a challenging period for the Company and the industry as a whole.
Our financial results continued to be affected by the weak economy and the
reduced demand from our customers. However, September showed improving
results due to increasing revenues as well as cost cutting initiatives we
implemented throughout the year."

CECO will host a conference call on Monday, November 9, 2009 at 8:30 a.m. EST
to review its financial results for the quarter. Conferencing details are as
follows:

Dial in number: 866.543.6408
International dial in number: 617.213.8899
Participant pass code: 87210027

Replay: 888.286.8010
International: 617.801.6888
Pass code: 27598256

ABOUT CECO ENVIRONMENTAL

CECO Environmental Corp. is North America's largest independent air pollution
control company. Through its subsidiaries CECO provides a wide spectrum of
air quality services and products including: industrial air filters,
environmental maintenance, monitoring and management services, and air quality
improvements systems. CECO is a full-service provider to the steel, military,
aluminum, automotive, ethanol, aerospace, electric power, semiconductor,
chemical, cement, metalworking, glass, foundry and virtually all industrial
process industries.

For more information on CECO Environmental please visit the company's website
at http://www.cecoenviro.com.

Contact:
Corporate Information
Phillip DeZwirek, CECO Environmental Corp.
Email: investors@cecoenviro.com
1-800-606-CECO (2326)

CECO ENVIRONMENTAL CORP.
------------------------

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

Dollars in thousands, except per share data

THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
2009 2008 2009 2008

Net sales $33,203 $55,238 $106,501 $159,546
Cost of sales 26,185 43,683 83,221 131,239
Gross profit 7,018 11,555 23,280 28,307
Selling and
administrative 7,222 8,750 22,538 23,573
Amortization 139 376 618 982
(Loss) income from
operations (343) 2,429 124 3,752
Other (expense)
income, net (375) -- (547) --
Interest expense
(including related party
interest of $122 and $81,
and $309 and $81,
respectively) (326) (467) (1,035) (1,046)

(Loss) income before
income taxes (1,044) 1,962 (1,458) 2,706

Income tax (benefit)
provision (366) 766 (510) 1,056

Net (loss) income $(678) $1,196 $(948) $1,650

Per share data:
Basic net (loss) income $(.05) $.08 $(.07) $.11
Diluted net (loss) income $(.05) $.08 $(.07) $.11

Weighted average number
of common shares
outstanding:
Basic 14,241,594 14,949,352 14,214,065 14,899,005
Diluted 14,241,594 15,722,058 14,214,065 15,434,682

Reconciliation of GAAP selling and administrative expenses to comparative
non-GAAP selling and administrative expenses;
-------------------------------------------------------------------------
$ in 000's 3 months ended 9 months ended
9/30/09 9/30/08 9/30/09 9/30/08
Selling and administrative
expense as reported
per GAAP $7,222 $8,750 $22,538 $23,573
Less 3 and 9 months
Flextor expenses (281) (213) (937) (213)
Less 2 months (January and
February 2009) FKI expenses 0 0 (1,169) 0
Comparative expense $6,941 $8,537 $20,432 $23,360

CECO is providing the non-GAAP historical financial measures presented above
as the Company believes that these figures are helpful in allowing individuals
to better assess the ongoing nature of CECO's core operations. A "non-GAAP
financial measure" is a numerical measure of a company's historical financial
performance that excludes amounts that are included in the most directly
comparable measure calculated and presented in the GAAP statement of
operations.

Non-GAAP comparative selling and administrative expenses as we present them in
the financial data included in this press release have been adjusted to
exclude the effects of expenses related to recent acquisitions that were not
comparably present in prior periods. Flextor, Inc. was acquired in August 2008
and Fisher-Klosterman Inc. (FKI) was acquired in March 2008. Management
believes that these non-GAAP financial measures excluding these items better
reflect its cost reduction performance as these non-GAAP figures exclude the
effects of acquired selling and administrative expenses. Management believes
that these items are not necessarily representative of underlying trends in
the Company's performance and their exclusion provides individuals with
additional information to compare the Company's results over multiple periods.
We expect our financial statements to continue to be affected by Flextor and
FKI expenses excluded in the non-GAAP adjustments described above, and
exclusion of these items from our non-GAAP financial measures should not be
construed as an inference that all such costs are unusual or infrequent.

In accordance with the requirements of Regulation G issued by the Securities
and Exchange Commission, the tables above present the most directly comparable
GAAP financial measure and reconcile non-GAAP comparative selling and
administrative expenses to the comparable GAAP measures.

This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements may be identified by words such as "believe," "anticipate,"
"intend," "expect," "feel," "may," "could," "would," "will," "should," "plan"
or similar statements. All forward-looking statements are subject to certain
risks, uncertainties and assumptions. These risks and uncertainties, which
are more fully described in CECO's Annual and Quarterly Reports filed with the
Securities and Exchange Commission, include changes in economic conditions and
changes in market conditions in the industries in which the Company operates.
Should one or more of these risks or uncertainties materialize, or should the
assumptions prove incorrect, actual results may vary in material aspects from
those currently anticipated.

SOURCE CECO Environmental Corp.

Corporate Information, Phillip DeZwirek, 1-800-606-CECO (2326), CECO
Environmental Corp., investors@cecoenviro.com