ENVIRX REPORTS INCREASED EARNINGS AND REVENUES
ENVIRX REPORTS INCREASED EARNINGS AND REVENUES HOUSTON, May 8 /PRNewswire/ -- ENVIRx Industries, Inc.
(NASDAQ: ENVX) reported net income of $338,000 or $.04 per share on revenues of $1,866,000 for the three months ended Feb. 28, 1992, as compared with net income of $242,000 or $.03 per share that was earned on revenues of $1,438,000 for the same period of last year. The 40 percent increase in net income was attributable primarily to the increased revenues, which resulted from the increased volumes of wastewater sludge handled by ENVIRx's Industrial sludge disposal operation.
For the six months ended Feb. 28, net income was $956,000 or $.10 per share on revenues of $4,293,000. This represents a 72 percent increase over the $556,000 or $.06 per share that was earned on revenues of $3,038,000 for the same period in 1991. The increased revenues and net income resulted from the increased volumes of industrial sludge. On April 2, 1992, ENVIRx acquired all of the outstanding capital stock of G.C. Environmental, Inc. and in connection with the transaction, ENVIRx changed its fiscal year end from Dec. 31 to Aug. 31. ENVIRx is an environmental solutions company providing processing and disposal of wastewater sludge, construction of special waste disposal sites and environmental engineering, consulting and design of water pollution control equipment. ENVIRx LTD. Summary Data Table Three months Percent ended Feb. 28 1992 1991 Increase Revenues $1,866,000 $1,438,000 30 Operating income 566,000 368,000 54 Net income 338,000 242,000 40 Earnings per share 0.04 0.03 Weighted average shares outstanding 9,350,000 9,350,000 Six months Percent ended Feb. 28 1992 1991 Increase Revenues $4,293,000 $3,038,000 41 Operating income 1,540,000 896,000 72 Net income 956,000 556,000 72 Earnings per share 0.10 0.06 Weighted average shares outstanding 9,350,000 9,350,000 -0- 5/8/92 /CONTACT: Tommy Fatjo, vice president of ENVIRx Industries, 713-956-1212/ (ENVX) CO: ENVIRx Industries Inc. ST: Texas IN: SU: ERN
SM -- NY062 -- 8176 05/08/92 15:12 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||May 8, 1992|
|Previous Article:||FLORIDA MAN ARRESTED FOR GRAND THEFT; ACCUSED OF MAKING MISREPRESENTATIONS AND OMITTING FACTS|
|Next Article:||THE IMMUNE RESPONSE CORP., RHONE-POULENC RORER INC. ANNOUNCE PRELIMINARY EVALUATION OF HIV THERAPEUTIC VACCINE DOSE-RANGING CLINICAL TRIAL|