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CHEMFIX TECHNOLOGIES, INC. CORRECTED AFTER-TAX, FIRST-QUARTER RESULTS

 METAIRIE, La., Jan. 15 /PRNewswire/ -- Chemfix Technologies, Inc. (CTI) (NASDAQ: CFIX) today corrected its first-quarter, after-tax net loss reported on Wednesday, Jan. 13.
 For the first quarter of fiscal year 1993, ended Nov. 30, 1992, the company's net loss after tax was $435,493, or 6 cents per share. The loss was adjusted downward to reflect a tax benefit of $260,926 relating to the company's recent adoption of the new Statement of Financial Accounting Standards No. 109.
 Michael E. McGoey, chief financial officer for CTI, stated that: "Due to interpretive differences relating to the timing of recognition of periodic tax provisions, requirement for recognition of a tax benefit in the first quarter was not finally determined until final review before filing of the company's quarterly report, Form 10-Q, with the Securities and Exchange Commission."
 Statement of Financial Accounting Standards No. 109 -- "Accounting for Income Taxes" requires, among other things, recognition of future tax benefits, measured by enacted tax rates, attributable to deductible temporary differences between financial statement and income tax bases of assets and liabilities, and net operating loss carryforwards to the extent that realization of such benefits is more likely than not.
 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- 1/15/93
 /CONTACT: Michael E. McGoey of Chemfix Technologies, 504-831-3600/
 (CFIX)


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

BR-RA -- AT003 -- 5400 01/15/93 13:33 EST
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Publication:PR Newswire
Date:Jan 15, 1993
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