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EV REPORTS FIRST QUARTER RESULTS

 WESTON, Conn., May 14 /PRNewswire/ -- EV Environmental, Inc. (NASDAQ Small Cap: EVEN), reported today the results of operations for its first quarter of 1993. The company reported a loss of $449,000 ($.25 per share) for the current quarter compared to earnings of $133,000 ($.10 per share) for the first quarter of 1992. Sales were $1,146,000 in the current quarter compared to $2,440,000 for the first quarter of 1992.
 Michael Cox, president of the company, stated, "The first quarter should not be viewed as an overly negative indicator for the current year. We account for our projects on the completed contract method, so several sizable contracts initiated in the first quarter will have no impact until they are completed in the second quarter. We have been in the sales and job start-up mode during the quarter, which is evidenced by the increase in our backlog at March from $1,500,000 last year to $4,500,000 this year. That is a very strong comparative showing in our sales activity. With the exception of 1992, the first quarter is usually our worst, as our customers are just getting into their capital spending budgets for the year."
 The company also indicated that the first quarter was negatively impacted by expenses of $60,000 from a bridge financing from 1992 which was retired with the proceeds from its February 1993 stock offering.
 Current year results include the operations of Pollution Control Engineering, Inc. ("PCE"), which was acquired at the end of February 1993 for the month of March 1993. Pro forma results including PCE for the full comparable quarters were a loss of $597,000 ($.32 per share) in the current quarter compared to earnings of $364,000 ($.25 per share) for the first quarter of 1992 on sales of $1,307,000 in the current quarter compared to $4,583,000 for the first quarter of 1992. Mr. Cox stated, "PCE was completing a $5.5 million contract in 1992 which we anticipated would not be duplicated this year. PCE is also showing good sales activity currently, and we expect the acquisition to be very positive for us."
 EV Environmental provides waste water treatment systems and products for industrial and governmental waste generators.
 EV ENVIRONMENTAL, INC.
 Summary Operating Results
 Quarter ended Pro Forma(A)
 March 31 1993 1992 1993 1992
 Revenues $1,146,000 $2,440,000 $1,307,000 $4,583,000
 Net earnings/(loss) $ (449,000) $ 133,000 $ (597,000) $ 364,000
 Net earnings/(loss)
 per share $(.25) $.10 $(.32) $.25
 Shares outstanding 1,770,000 1,326,000 1,876,000 1,471,000
 (A) -- Includes the results of Pollution Control Engineering as if acquired on Jan. 1, 1992.
 -0- 5/14/93
 /CONTACT: Michael Cox, president of EV, 203-454-1019, or Charles McFarland, 606-282-2200, for EV/
 (EVEN)


CO: EV Environmental, Inc. ST: Connecticut IN: ENV SU: ERN

GK-OS -- NY068 -- 8758 05/14/93 16:01 EDT
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Publication:PR Newswire
Date:May 14, 1993
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