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ROLLINS ENVIRONMENTAL SERVICES REPORTS FIRST QUARTER RESULTS

 ROLLINS ENVIRONMENTAL SERVICES REPORTS FIRST QUARTER RESULTS
 WILMINGTON, Del., Jan. 15 /PRNewswire/ -- Rollins Environmental Services, Inc. (NYSE, PSE: REN) today reported results for the first fiscal quarter ended Dec. 31, 1991.
 For the quarter, revenues were $53,912,000 compared to $52,014,000 in the prior year. Net earnings were $5,993,000 compared to $5,981,000 in the first quarter of Fiscal Year 1991 and earnings per share were 10 cents in each quarter.
 These results were achieved in spite of the fire at the Deer Park, Texas, facility. As previously reported, during a severe thunder and lightning storm, a fire occurred on Nov. 17, 1991, due to elevated temperatures in the fiberglass-lined air pollution control equipment. Partial operation of the 4.4 meter kiln and Rollins Rotary Reactor was achieved from Nov. 28, 1991, to Dec. 13, 1991. On Dec. 19, 1991, the Deer Park facility resumed normal operation of its 4.4 meter kiln and Rollins Rotary Reactor.
 The company said it expects the results for the remainder of the year to improve.
 The company is a technological leader for commercial incineration in the chemical waste treatment and disposal industry and operates facilities in Baton Rouge and Plaquemine, La.; Bridgeport, N.J., and Deer Park, Texas. Chempak treatment and disposal services for small- quantity generators of hazardous waste are provided through offices located in Delaware, North Carolina, Michigan, Illinois, Louisiana, Texas, New Mexico, California, Connecticut and Washington. The company also operates waste processing, recycling and repackaging facilities in Tipton, Mo., and Los Angeles, and a major laboratory facility in Ann Arbor, Mich.
 ROLLINS ENVIRONMENTAL SERVICES, INC.
 Consolidated Balance Sheet
 (Dollars in thousands; unaudited)
 At Dec. 31 1991 1990
 Assets:
 Current assets:
 Cash and cash equivalents $46,477 $43,956
 Accounts receivable, net 36,896 33,212
 Deferred federal income taxes 4,641 4,955
 Other current assets 9,604 6,667
 Total 97,618 88,790
 Property and equipment, at cost,
 net of accumulated depreciation 153,436 138,277
 Other assets 9,673 9,390
 Total 260,727 236,457
 Liabilities and shareholders' equity:
 Current liabilities:
 Accounts payable $8,402 $7,998
 Accrued liabilities 11,922 10,531
 Accrued remediation and other costs 8,850 10,285
 Current income taxes payable 3,265 2,154
 Current maturities of long-term debt 2,469 1,749
 Total 34,908 32,717
 Long-term debt 6,552 5,095
 Deferred federal income taxes 12,637 9,492
 Accrued remediation and other costs 19,690 21,893
 Other liabilities 2,381 3,478
 Shareholders' equity 184,559 163,782
 Total 260,727 236,457
 ROLLINS ENVIRONMENTAL SERVICES, INC.
 Consolidated Statement of Earnings
 (In thousands; unaudited)
 Three months ended Dec. 31 1991 1990
 Revenues $53,912 $52,014
 Expenses:
 Operating 33,765 32,203
 Depreciation 4,184 3,876
 Selling and administrative 6,352 6,392
 Interest 188 155
 Total 44,489 42,626
 Earnings before income taxes 9,423 9,388
 Income taxes 3,430 3,407
 Net earnings 5,993 5,981
 Earnings per share $.10 $.10
 Average common shares and
 equivalents outstanding 60,412 60,320
 -0- 1/15/92
 /CONTACT: Jack Hornberger, senior vp, 302-479-2949, or Harold Castle, vp and treasurer, 302-479-3455, both of Rollins Environmental Services/
 (REN) CO: Rollins Environmental Services, Inc. ST: Delaware IN: SU: ERN


MP-LJ -- PH001 -- 9859 01/15/92 09:03 EST
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Date:Jan 15, 1992
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