Clean Harbors Announces Third Quarter Results.

BRAINTREE, Mass.--(BUSINESS WIRE)--Oct. 21, 1998--Clean Harbors, Inc., (NASDAQ:CLHB) today announced its results for the third quarter and nine months ended September 30, 1998.

Revenues for the third quarter were $50,884,000 compared to $50,137,000 for the third quarter last year. The Company reported a net loss of $(1,135,000) for the third quarter of 1998, compared to a net loss of $(786,000) for the third quarter of last year.

On a per share basis, the Company reported a loss per basic and diluted share of $(0.12) for the third quarter of 1998, versus a loss per basic and diluted share of $(0.09) for the comparable period last year.

Nine month revenues for 1998 were $144,851,000 with a net loss of $(3,938,000) or $(0.42) per basic and diluted share as compared to revenues of $137,874,000 with a net loss of $(3,652,000) or $(0.40) per basic and diluted share for the same period last year.

Alan S. McKim, Chairman & CEO stated: "The results for this quarter were lower than we expected. However, the income from operations for this quarter remained about level with last year's third quarter while income from operations for the nine month period this year over last year, has improved by over $2 million. This improvement was due to the continuing efficiencies we are implementing to reduce per unit costs for processing various waste streams."

Clean Harbors, Inc. provides a wide range of industrial waste management services and environmental clean-up services to a diversified customer base across the nation. The Company currently has service and sales offices in 24 states and Puerto Rico, and operates 12 waste managements facilities throughout the country. -0-

                          CLEAN HARBORS, INC.
                 CONSOLIDATED STATEMENTS OF OPERATIONS
                               Unaudited
                 (in thousands, except per share data)

                          Three Months Ended       Nine Months Ended
                             September 30,          September 30,
                            1998      1997         1998      1997

Revenues                  $50,884   $50,137    $144,851    $137,874
Cost of revenues           37,693    37,650     108,012     104,023
Selling, general
 and administrative
 expenses                   9,597     8,884      26,674      25,714
Depreciation
 and amortization           2,287     2,274       6,823       6,983
Income from operations      1,307     1,329       3,342       1,154
Other income, net              -         -           -          800
Interest expense, net       2,352     2,350       7,010       6,923
Loss before provision for
 income taxes              (1,045)   (1,021)     (3,668)     (4,969)
Provision for
(benefit) from income
 taxes                         90      (235)        270      (1,317)
    Net loss              $(1,135)  $  (786)    $(3,938)    $(3,652)
Diluted loss per share      $(.12)    $(.09)      $(.42)      $(.40)
Weighted average common
 shares outstanding        10,354    10,009      10,271       9,913