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SEVENSON ENVIRONMENTAL SERVICES, INC. REPORTS RESULTS OF NINE MONTHS AND QUARTER ENDED SEPT. 30, 1992

 SEVENSON ENVIRONMENTAL SERVICES, INC. REPORTS RESULTS OF NINE MONTHS
 AND QUARTER ENDED SEPT. 30, 1992
 NIAGARA FALLS, N.Y., Oct. 26 /PRNewswire/ -- Sevenson Environmental Services, Inc. (NASDAQ-NMS: SEVN) today reported results for the nine months and quarter ended Sept. 30, 1992.
 Revenues for the nine months were $48,947,638, a 29 percent increase from $38,025,264 in the same period last year. However, net earnings were down 18 percent to $3,794,055 from $4,647,734. Earnings per share for nine months were $0.59 vs. $0.71.
 Third quarter revenues were $21,903,156, up 76 percent from last year's third quarter revenue of $12,434,022. Net earnings were $1,795,386, a 3 percent increase over last year's third quarter earnings of $1,744,725. Earnings per share for the quarter were $0.28 vs. $0.27 last year.
 Michael A. Elia, president of Sevenson, stated, "The increase in third quarter revenues reflects the increase in bidding opportunities we have seen this year. Profit margins, although acceptable, were lower on several large projects which lowered overall profitability. The profit margin comparison also suffers from the fact that profit margin in last year's third quarter was unusually high. We look forward to continued improvement in business in the fourth quarter and into next year."
 Sevenson provides a comprehensive range of field services for the remediation of sites and facilities contaminated by hazardous materials. The company, which is headquartered in Niagara Falls, operates in the United States and Canada. Since entering the site remediation business in 1979, the company has performed over 350 projects including projects at the Love Canal and 32 other Superfund sites.
 SEVENSON ENVIRONMENTAL SERVICES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 Three-Month Periods Ended Sept. 30, 1992 and 1991 - (unaudited)
 Three Months Ended 9/30/92 9/30/91
 Revenues
 Contracts $21,792,684 $12,292,265
 Other 110,472 141,757
 21,903,156 12,434,022
 Costs and expenses:
 Cost of contracts:
 Direct costs 16,850,449 7,935,742
 Indirect costs 936,413 915,770
 Selling, general and admin. 1,480,051 1,269,611
 19,266,913 10,121,123
 Earnings from operations 2,636,243 2,312,899
 Other:
 Interest income 286,674 438,045
 Interest expense (50,497) (46,296)
 Gain (loss) on sale of property
 and equipment (28,034) 77
 208,143 391,826
 Earnings before income taxes 2,844,386 2,704,725
 Income taxes 1,049,000 960,000
 Net earnings 1,795,386 1,744,725
 Weighted average number of
 shares outstanding 6,438,420 6,516,019
 Earnings per share $ .28 $ .27
 SEVENSON ENVIRONMENTAL SERVICES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 Nine-Month Periods Ended Sept. 30, 1992 and 1991 - (unaudited)
 Nine Months Ended 9/30/92 9/30/91
 Revenues:
 Contracts $48,640,282 $37,771,321
 Other 307,356 253,943
 48,947,638 38,025,264
 Costs and expenses:
 Cost of contracts:
 Direct costs 36,964,347 25,455,780
 Indirect costs 2,167,945 2,393,640
 Selling, general and admin. 4,701,575 4,173,776
 43,833,867 32,023,196
 Earnings from operations 5,113,771 6,002,068
 Other:
 Interest income 984,543 1,383,829
 Interest expense (138,116) (163,028)
 Loss on sale of property
 and equipment (37,143) (15,135)
 809,284 1,205,666
 Earnings before income taxes 5,923,055 7,207,734
 Income taxes 2,129,000 2,560,000
 Net earnings 3,794,055 4,647,734
 Weighted average number of
 shares outstanding 6,484,778 6,562,683
 Earnings per share $ .59 $ .71
 -0- 10/26/92
 /CONTACT: William J. McDermott, vice president - finance of Sevenson Environmental Services, 716-284-0431/
 (SEVN) CO: Sevenson Environmental Services, Inc. ST: New York IN: SU: ERN


CD -- PG002 -- 4620 10/26/92 09:43 EST
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Date:Oct 26, 1992
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