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EIF HOLDINGS ANNOUNCES CONTINUED STRENGTHENING OF ITS FINANCIAL POSITION AND AVAILABILITY OF THE SECOND QUARTER 10-QSB

 HONOLULU, Aug. 17 /PRNewswire/ -- EIF Holdings Inc., an environmental health, safety and construction company, announced the availability of its second quarter 10-QSB. In the second quarter, the company had a gross profit of $2,007,873 on revenues of $5,764,254. This is an 8.8 percent increase in revenues over the first quarter and a 7.4 percent increase in revenues for the first six months of this year, relative to the first six months of 1992.
 Total current liabilities were reduced by 15.2 percent during the second quarter, and long-term debt was paid down by 30.6 percent. Much of this was made possible by the increase in revenues and the collection of outstanding receivables.
 As a result of debt reduction, the opening of new offices and isolated cost overruns, the net earnings for the second quarter were lowered to $43,466. Overall, the company is in strong financial condition and ready for the opportunities presented by the growing awareness of environmental pollutants.
 -0- 8/17/93
 /CONTACT: Financial Telesis Investor Relations, 808-595-0721, for EIF Holdings/


CO: EIF Holdings Inc. ST: Hawaii IN: ENV CST SU:

BP-LM -- LA006 -- 3432 08/17/93 09:30 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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