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GOLDFIELD ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 1992

GOLDFIELD ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 1992
 MELBOURNE, Fla., Aug. 11 /PRNewswire/ -- The Goldfield Corporation (AMEX: GV) announced today a net income of $78,715 (nil per share) for the three month period ended June 30, 1992, compared to a net loss of $163,541 (($.01) per share) for the like 1991 period. In the three month period ended June 30, 1992, sales were $3,044,333, compared to $1,901,900 in the like period of 1991. A net loss of $194,718 (($.01) per share) was reported for the six month period ended June 30, 1992, compared to a net loss of $346,298 (($.01) per share) for the like 1991 period. In the six month period ended June 30, 1992, sales were $5,167,609, compared to $4,524,978 in the like period of 1991.
 In the three month period ended June 30, 1992, the mining operations had revenue of $481,057 and an operating loss of $47,589, compared to $747,340 and an operating profit of $225,705 for the like period in 1991. For the six month period ended June 30, 1992, mining revenue was $956,491 with an operating loss of $235,405, compared to $1,751,350 and operating profit of $412,771 for the like period in 1991. Mining results for both 1992 periods were lower primarily due to decreased royalty income. In the three month period ended June 30, 1992, royalties from the Harlan coal properties were $14,367, compared to $68,377 in the like 1991 period. In the six month period ended June 30, 1992, royalties from the Harlan coal properties were $57,736, compared to $144,422 in the like 1991 period. During the six and three months ended June 30, 1991, the company earned $690,443 and $385,609, respectively from the Getchell gold royalty. The company sold the Getchell gold royalty on Nov. 14, 1991. Royalty income is included in the operating profit (loss) for mining operations.
 In the three month period ended June 30, 1992, electrical construction earned revenue of $2,563,276 and had an operating profit of $309,511, compared to $1,154,560 and an operating loss of $70,397 for the like period in 1991. For the three month period ended June 30, 1992, electrical construction revenue was $4,211,118 and operating profit was $465,206, compared to $2,773,628 and an operating loss of $70,378 for the three month period in 1991. Electrical construction results were higher for both 1992 periods principally due to an increase in sales.
 Goldfield is engaged in the business of mining base and precious metals and industrial minerals and electrical construction. It also owns a royalty interest in coal properties.
 THE GOLDFIELD CORPORATION
 and Subsidiaries
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenue
 Electrical
 construction $2,563,276 $1,154,560 $4,211,118 $2,773,628
 Mining 481,057 747,340 956,491 1,751,350
 Royalty income 14,367 453,986 57,736 834,865
 Other income, net 175,177 120,146 270,181 164,332
 Total revenue 3,233,877 2,476,032 5,495,526 5,524,175
 Costs and expenses
 Electrical
 construction 2,076,085 1,034,058 3,407,624 2,462,209
 Mining 430,773 831,467 1,040,836 1,892,703
 Depreciation 293,125 283,434 553,495 572,975
 Amortization of
 repurchased royalties 6,520 61,619 13,039 109,023
 General and
 administrative 343,783 378,875 664,759 714,543
 Interest 4,876 50,120 10,491 119,020
 Total costs
 and expenses 3,155,162 2,639,573 5,690,244 5,870,473
 Income (loss) from
 operations before
 income taxes 78,715 (163,541) (194,718) (346,298)
 Income taxes -- -- -- --
 Net income (loss) 78,715 (163,541) (194,718) (346,298)
 Preferred stock
 dividends 5,940 5,940 11,879 11,879
 Earnings (loss)
 available to
 common stockholders $72,775 $(169,481) $(206,597) $(358,177)
 Earnings (loss) per
 share of common
 stock $0.00 $(0.01) $(0.01) $(0.01)
 Weighted average
 number of shares
 outstanding 30,167,480 30,163,294 30,167,480 30,163,294
 -0- 8/11/92 R
 /CONTACT: John H. Sottile of The Goldfield Corporation, 407-724-1700/
 (GV) CO: The Goldfield Corporation ST: Florida IN: MNG SU: ERN


AW-JB -- FL003 -- 9037 08/11/92 14:22 EDT
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Date:Aug 11, 1992
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