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NDE REPORTS REDUCED LOSSES FOR 3RD QUARTER 9 MONTHS

 TORRANCE, Calif., Nov. 18 ~PRNewswire~ -- NDE Environmental Corporation (NASDAQ: NDEC), a leading underground storage tank testing company, today reported further reduction in losses for the third quarter and nine months ended Sept. 30, 1992.
 For the quarter, the company had a net loss of $492,430 or eight cents per share on revenues of $1,511,078 compared to a net loss of $1,422,741 or 30 cents per share on revenues of $1,864,828 for the same period last year. The loss for the nine months was $2,174,091 or 37 cents per share on revenues of $4,386,907 compared to a net loss of $4,951,860 or $1.24 per share on revenues of $3,809,872 for the like period of the prior year.
 "The improvements reflect the successful implementation of a reorganization plan adopted last year," Jay Chaffee, president and chief executive officer, said. "We have concentrated on profitable clients, offering them more value added services, increasing the utilization and efficiency of our fleet of testing vehicles, and reduced costs substantially," he noted.
 Selling, general and administrataive costs for the third quarter were 34 percent below the level of the prior year's period, reflecting restructuring activities and reduction in the compensation of corporate officers. Internal research and development, which cost $446,134 during the first nine months of 1991, was eliminated at the beginning of 1992.
 "We believe future results will show additional benefits from the restructuring and our effectiveness in increasing market penetration of our products and services," Chaffee concluded.
 NDE ENVIRONMENTAL CORPORATION
 Financial Highlights (unaudited)
 Periods Three Months Nine Months
 Ended 9~30~92 9~30~91 9~30~92 9~30~91
 Revenues $1,511,078 $1,864,828 $4,386,907 $3,809,872
 Net (loss) (492,430) (1,422,741) (2,174,091) (4,951,860)
 Net (loss)
 per share ($.08) ($.30) ($.37) ($1.24)
 Weighted avg.
 shares
 outst. 5,947,965 4,756,415 5,947,965 3,981,882
 -0- 11~18~92
 ~CONTACT: Jay Chaffee of NDE Environmental, 310-542-4342, ext. 183~
 (NDEC)


CO: NDE Environmental Corporation ST: California IN: SU: ERN

SB -- NY029 -- 2317 11~18~92 11:40 EST
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Publication:PR Newswire
Date:Nov 18, 1992
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