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GZA GEOENVIRONMENTAL TECHNOLOGIES, INC. REPORTS THIRD QUARTER RESULTS

 NEWTON UPPER FALLS, Mass., Jan. 12 /PRNewswire/ -- GZA GeoEnvironmental Technologies, Inc. (NASDAQ: GZEA) today announced its results for the quarter and the nine months ended November 30, 1992. Net revenues for the third quarter of fiscal 1993 were $9.8 million, compared to $9.1 million last year. The company reported net income for the third quarter of $272,000, or 7 cents per share, compared to a net loss of $1.1 million, or 31 cents per share, in the third quarter of last year.
 For the nine months ended Nov. 30, 1992, net revenues were $29.2 million compared to $26.9 million for the first nine months of last fiscal year. Net income for the first nine months of fiscal 1993 was $923,000, or 25 cents per share, compared to a net loss of $1.5 million, or 40 cents per share, for the comparable nine-month period last year. The company attributed the increase in net income primarily to higher volume and improved utilization rates in the company's consulting group. In addition, earnings in the third quarter of fiscal 1992 were negatively affected by a $1.7 million restructuring charge.
 Commenting on third quarter results, Donald Goldberg, chairman of the board and chief executive officer, said, "The first quarter of this fiscal year marked our return to profitability, and we are pleased to report that our results were similarly strong for the second quarter and now the third quarter. We are benefiting from an increase in the demand for our services as well as the results of some management initiatives and overhead reduction measures implemented this year. I am very pleased with our performance in the third quarter. We have developed new business and improved our performance in a very competitive environment. Our backlog continues to be strong, and I remain confident regarding our performance over the balance of the year and beyond."
 Goldberg added, "The company is also pleased to announced the appointment of Joseph P. Hehir to chief financial officer of the company. Mr. Hehir joined the company in 1981 and has held several financial positions, including corporate controller and then treasurer of GZA GeoEnvironmental, Inc. He has served as Acting CFO and treasurer of the company since William Zoino stepped down from the position earlier this year. We look forward to Mr. Hehir's continued contribution to the financial management of the firm."
 GZA GeoEnvironmental Technologies, Inc. provides a wide spectrum of environmental consulting and remediation services and geotechnical services to private sector companies and public agencies. The common stock of GZA GeoEnvironmental Technologies, Inc. is listed on the National Market System of NASDAQ, symbol GZEA.
 GZA GEOENVIRONMENTAL TECHNOLOGIES, INC.
 Summary Financial Data
 (Unaudited, in thousands except per share data)
 Three Months Ended Nine Months Ended
 11/30/92 11/30/91 11/30/92 11/30/91
 Net revenue $9,842 $9,075 $29,206 $26,926
 Income (loss) before
 income taxes 472 (1,637) 1,539 (2,181)
 Net income (loss) 272 (1,146) 923 (1,483)
 Earnings (loss) per
 share 7 cents (31 cents) 25 cents (40 cents)
 Weighted average
 shares outstanding 3,714 3,714 3,714 3,714
 -0- 1/12/93
 /CONTACT: Kim Whelan investor relations for GZA, 617-969-0700, ext. 6357/
 (GZEA)


CO: GZA GeoEnvironmental Inc. ST: Massachusetts IN: SU: ERN

DH -- NE003 -- 3839 01/12/93 08:49 EST
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Date:Jan 12, 1993
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