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CHEMFIX TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER RESULTS CREDIT LINE EXTENSIONS AND $8 MILLION IN NEW CONTRACTS

 CHEMFIX TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER RESULTS
 CREDIT LINE EXTENSIONS AND $8 MILLION IN NEW CONTRACTS
 METAIRIE, La., Jan. 13 /PRNewswire/ -- Chemfix Technologies, Inc. (NASDAQ: CFIX) today reported a net loss in fiscal year 1992's first quarter, which ended Nov. 30, 1991, of $124,853, or 2 cents per share, on revenues of $4.7 million, as compared to a loss of $180,777, or 2 cents per share, on revenues of $4.8 million in the year earlier.
 The company also reported that its major bank credit line was extended in November and that supplemental lease lines of credit for approximately $1 million were secured in November and December.
 Chairman and Chief Executive Officer Daniel N. Silverman III also announced that "construction of our new waste treatment facility in Kern County, California, is almost complete and was scheduled to be operational next month."
 Silverman added that its West Coast subsidiary, VenVirotek, had also recently been awarded $8.0 million of new soil remediation contracts to be performed in the second and third fiscal quarters.
 Silverman also noted that the restructuring plans implemented at the beginning of fiscal year 1992 had decreased SG&A expenses by approximately $500,000 when compared to the first quarter of fiscal year 1991.
 -0- 1/13/92
 /CONTACT: Gloria J. Newbern of Chemfix Technologies, 504-831-3600/
 (CFIX) CO: Chemfix Technologies, Inc. ST: Louisiana IN: CHM SU: ERN


BR-BN -- AT003 -- 9082 01/13/92 12:20 EST
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Publication:PR Newswire
Date:Jan 13, 1992
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