Printer Friendly

CHEMFIX TECHNOLOGIES, INC. POSTS SECOND QUARTER RESULTS; COMPANY ANNOUNCES $4 MILLION REMEDIATION CONTRACT

 METAIRIE, La., April 15 /PRNewswire/ -- Chemfix Technologies, Inc. (CTI) (NASDAQ: CFIX) today reported a net loss for the second quarter of fiscal year 1993, ended Feb. 28, of $864,000, or 11 cents per share, on revenues of $4.1 million.
 In the prior year's second quarter, the company lost $637,000, or 8 cents per share, on revenues of $5 million.
 For the six months ended Feb. 28, the company had a net loss of $1,299,000, or 16 cents per share, on revenues of $7.7 million, as compared to a net loss of $762,000, or 10 cents per share, on revenues of $9.7 million for the six months ended Feb. 29, 1992.
 Chairman and Chief Executive Officer Daniel N. Silverman III explained that the second quarter decline in revenues and concurrent loss was primarily due to unusually heavy and unexpected rainfall experienced in California throughout the second quarter, which impacted the commencement of several expected contracts and completion of certain contracts already underway. Silverman added that the quarter's results were lower than previously expected and that the effect of the previously announced reductions in selling, general, and administrative cost of $1.3 million would not begin to be seen until the third quarter.
 Silverman also announced that the company had been awarded a remediation contract in Southern California valued at approximately $4 million. The company commenced operations on that contract late in the second quarter with the bulk of the work expected to be completed in the third quarter. He added that the company is currently awaiting customer decisions on an estimated $32 million of proposals for various soil remediation projects.
 Chemfix Technologies, Inc. is an environmental services company that provides analysis, treatment and recycling of hazardous and special waste materials for industry and government.
 -0- 4/15/93
 /CONTACT: Daniel N. Silverman III, chairman, president & CEO, or Grace Huerstel, shareholder communications, of Chemfix Technologies, 504-831-3600/
 (CFIX)


CO: Chemfix Technologies, Inc. ST: Louisiana IN: ENV SU: ERN CON

BR-CF -- AT011 -- 6233 04/15/93 12:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1993
Words:343
Previous Article:UNITED FEDERAL BANCORP RECORDS 34.2 PERCENT INCREASE IN FIRST QUARTER EARNINGS
Next Article:MULTIMEDIA REPORTS NET EARNINGS FOR FIRST QUARTER
Topics:


Related Articles
CHEMFIX TECHNOLOGIES, INC. REPORTS YEAR-END RESULTS
CHEMFIX TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER RESULTS CREDIT LINE EXTENSIONS AND $8 MILLION IN NEW CONTRACTS
CHEMFIX TECHNOLOGIES, INC. ANNOUNCES FIRST QUARTER RESULTS CREDIT LINE EXTENSIONS AND $8 MILLION IN NEW CONTRACTS
CHEMFIX TECHNOLOGIES, INC. REPORTS SECOND QUARTER RESULTS; KERN COUNTY FACILITY OPERATIONAL
CHEMFIX TECHNOLOGIES POSTS $530,000 THIRD QUARTER PROFIT
CHEMFIX TECHNOLOGIES POSTS FOURTH QUARTER PROFIT
CHEMFIX TECHNOLOGIES, INC. POSTS FIRST QUARTER RESULTS
CHEMFIX TECHNOLOGIES, INC. CORRECTED AFTER-TAX, FIRST-QUARTER RESULTS
CHEMFIX TECHNOLOGIES, INC. POSTS THIRD QUARTER RESULTS
CHEMFIX TECHNOLOGIES AND AMERICAN ECOLOGY SIGN LETTER OF INTENT

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters