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COMMODORE ANNOUNCES THIRD QUARTER RESULTS

 COMMODORE ANNOUNCES THIRD QUARTER RESULTS
 NEW YORK, Nov. 20, /PRNewswire/ -- Commodore Environmental Services,


Inc. (OTC) today announced results for the third quarter and nine months ended Sept. 30, 1991.
 For the three months ended Sept. 30, 1991, as compared to the three months ended Sept. 30, 1990, revenues from continuing operations decreased from $223,000 to $219,000. The net loss from continuing operations was $48,000 and $149,000 for three months ended Sept. 30, 1991 and 1990, respectively. The overall net loss for the quarter ended Sept. 30, 1991 was $48,000 or less than one cent per share, compared to an overall net income of $2,852,000 or $.062 per share for the three months ended Sept. 30, 1990. During the third quarter of 1990, the company reported a gain on sale of discontinued subsidiaries of $1,985,000 which is net income tax expense of $1,016,000. In the third quarter of 1990, the company utilized net operating loss carryforwards which resulted in an extraordinary credit of $1,016,000.
 For the nine months ended Sept. 30, 1991 revenues from continuing operations were $658,000, as compared to $642,000 for the nine month period ended Sept. 30, 1990. The net loss from continuing operations was $247,000 and $324,000 for the nine months ended Sept. 30, 1991 and 1990, respectively. The overall net loss for the nine month period ended Sept. 30, 1991 was $247,000 or less than one cent per share compared to overall net income of $2,677,000 or $.063 per share for the nine month period ended Sept. 30, 1990. During the nine month period ended Sept. 30, 1990, the company reported a gain on sale of discontinued subsidiaries of $1,985,000 which is net income tax expense of $1,016,000. In the third quarter of 1990, the company utilized net operating loss carryforwards which resulted in an extraordinary credit of $1,016,000.
 Currently, and in the foreseeable future, the company intends to concentrate its activities in the real estate, oil and gas and mining businesses and will continue to pursue potential acquisition candidates in a number of business areas.
 COMMODORE ENVIRONMENTAL SERVICES, INC.
 Condensed Statement of Operations
 (unaudited)
 Three months ended
 Sept. 30 1991 1990
 Net revenues $219,000 $223,000
 Loss from
 continuing operations $(48,000) $(149,000)
 Discontinued operations -- 1,985,000
 Net income from discontinued
 operations -- 1,985,000
 Extraordinary credit 1,016,000
 Net income $(48,000) $2,852,000
 Net income (loss) per share
 Continuing operations $(.001) $(.003)
 Discontinued operations .043
 Extraordinary credit .022
 Net income (loss) $(.001) $.062
 Weighted average number
 of shares outstanding 46,030,000 46,030,000
 Nine months ended
 Sept. 30 1991 1990
 Net revenues $658,000 $640,000
 Loss from
 continuing operations $(247,000) $(324,000)
 Discontinued operations -- 1,985,000
 Net income from discontinued
 operations -- 1,985,000
 Extraordinary credit 1,016,000
 Net income $(247,000) $2,677,000
 Net income (loss) per share:
 Continuing operations $(.005) $(.007)
 Discontinued operations -- .043
 Extraordinary credit -- .022
 Net income (loss) $(.005) $.058
 Weighted average number
 of shares outstanding 46,030,000 51,238,000
 -0- 11/19/91
 /CONTACT: Melissa C. Berkowitz of Commodore Environmental Services, 212-308-5800/ CO: Commodore Environmental Services Inc. ST: New York IN: SU: ERN SM -- NY023 -- 5348 11/20/91 10:40 EST
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Publication:PR Newswire
Date:Nov 20, 1991
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