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ITS ANNOUNCES EXPECTED FOURTH QUARTER RESULTS FOR FISCAL YEAR ENDING JULY 31, 1992

 ITS ANNOUNCES EXPECTED FOURTH QUARTER RESULTS
 FOR FISCAL YEAR ENDING JULY 31, 1992
 HOUSTON, June 30 /PRNewswire/ -- International Testing Services, Inc. (ITS) (AMEX: ITS) announced today expected results for the fourth quarter ending July 31, 1992 of break-even to a slight loss, compared to a loss in the third quarter of 8 cents per share. Although all five sections of the Pacific Gas Pipeline project have commenced, the volume of NDT work on the project during May and June of 1992 did not reach anticipated utilization levels until the end of June, which has resulted in lower than anticipated revenues. Management still expects the gross revenues from the Pacific Gas Pipeline's NDT services to be $8 to $10 million over the next 18 months.
 Although ITS endeavors to minimize the idle time of its equipment and personnel, similar delays in revenue recognition are customary in the industry and can be expected in the future.
 ITS, with headquarters in Houston, is an environmental and safety company engaged in non-destructive testing services for the petrochemical, refining and pipeline industries.
 -0- 6/30/92
 /CONTACT: John B. Connally III of International Testing Services, 713-591-8880/
 (ITS) CO: International Testing Services, Inc. ST: Texas IN: SU: ERP


SM -- NY047 -- 5124 06/30/92 11:05 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
Words:211
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