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THERMO PROCESS SYSTEMS ANNOUNCES YEAR-END RESULTS

 THERMO PROCESS SYSTEMS ANNOUNCES YEAR-END RESULTS
 WALTHAM, Mass., May 13 /PRNewswire/ -- Thermo Process Systems


(ASE-TPI) today reported revenues of $47,235,000 for the fiscal year ended March 28, 1992, compared with $56,751,000 for fiscal 1991. Net income was $1,035,000, compared with $4,463,000 last year.
 Thomas P. Plunkett, president of Thermo Process Systems, said, "The economic slowdown has adversely affected our customers in the capital goods industries, resulting in reduced orders for thermal-treatment systems manufactured by our Holcroft division and contributing largely to the decline in revenues and net income. Orders of such equipment during the past three months, however, have totaled nearly $7 million, increasing the backlog at Holcroft. We are also pleased to report steady progress in the development of our national network of soil-recycling centers. Our third facility, in California, is completed and ready to receive soil; construction of a fourth facility is well under way in Florida and is expected to open in early July; and we have selected a site for our fifth center, in Texas. Our existing facilities in Virginia and South Carolina currently have a combined backlog of 15,000 tons of soil to be processed."
 Thermo Process Systems designs, manufactures, and sells advanced custom-engineered thermal-processing systems for the treatment of toxic wastes and the automated heat treating of metal parts. The company also provides services for the remediation of petroleum-laden soils, in addition to a comprehensive range of metallurgical processes. Thermo Process Systems is a public subsidiary of Thermo Electron Corporation.
 Thermo Process Systems Inc. Financial Highlights
 Three Months Ended Twelve Months Ended
 March 28, March 30, March 28, March 30,
 1992 1991 1992 1991
 Revenues $11,605,000 $15,002,000 $47,235,000 $56,751,000
 Income
 (Loss) Before
 Provision
 for Income
 Taxes (161,000) 1,101,000 606,000 6,714,000
 Net Income 33,000 1,155,000 1,035,000 4,463,000
 Earnings
 Per Share -- 7 cents 6 cents 27 cents
 Weighted
 Average
 Shares 17,258,000 16,827,000 17,267,000 16,642,000
 -0- 5/13/92
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TPI) CO: Thermo Process Systems ST: Massachusetts IN: SU: ERN


TM -- NE002 -- 9511 05/13/92 09:09 EDT
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Publication:PR Newswire
Date:May 13, 1992
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