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CHEMFIX TECHNOLOGIES, INC. REPORTS SECOND QUARTER RESULTS; KERN COUNTY FACILITY OPERATIONAL

 CHEMFIX TECHNOLOGIES, INC. REPORTS SECOND QUARTER RESULTS;
 KERN COUNTY FACILITY OPERATIONAL
 METAIRIE, La., April 14 /PRNewswire/ -- Chemfix Technologies, Inc. (NASDAQ: CFIX) today reported a net loss for the second quarter of fiscal year 1992, which ended Feb. 29, of $636,722, or 8 cents per share, on revenues of $5.0 million as compared to earnings of $52,574, or 1 cent per share, on revenues of $4.6 million for the second quarter of fiscal year 1991.
 For the six months ended Feb. 29, the company had a net loss of $761,575, or 10 cents per share, on revenues of $9.7 million, as compared to a net loss of $128,203, or 2 cents per share, on revenues of $9.4 million for the six months ended Feb. 28, 1991.
 Daniel N. Silverman III, president and chief executive officer of the La.-based waste treatment firm, stated that second quarter revenues were below expectation by as much as $2 million as a result of the record rainfalls in Southern California in February. The unusual weather conditions, known as El Nino, halted or severely reduced the company's operations at five separate locations in Southern California for as long as three weeks. Silverman explained that with the interruption of operations occurring so late in the quarter, there was no way to make up the volume during the quarter or prevent the substantial impact to operating margins. He pointed out that all of these projects resumed full-scale operations in late February and early March and that the delayed revenues should be recognized in the second half of the fiscal year.
 Silverman also reported that the company's new oil and gas central treatment facility, located in Kern County, Calif., had begun operations. The adverse weather had also delayed final construction of the treatment facility which had been expected on-line in February. The Arvin facility, which has an annual revenue potential of up to $13 million, began receiving wastes and started processing operations April 13.
 -0- 4/14/92
 /CONTACT: Gloria J. Newbern of Chemfix Technologies, 504-831-3600/ CO: Chemfix Technologies, Inc. ST: Louisiana IN: CHM SU: ERN


EA-BN -- AT006 -- 8237 04/14/92 11:37 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
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