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KIMMINS ENVIRONMENTAL SERVICE CORP. ANNOUNCES CONTINUED EARNINGS INCREASE

 TAMPA, Fla., July 29 /PRNewswire/ -- Kimmins Environmental Service Corp. (NYSE: KVN) today announced that net income for the second quarter ended June 30, 1993 was $530,000 or $.04 per share compared to net income of $491,000 or $.04 per share for the second quarter ended June 30, 1992. Revenue for the three-month period ending June 30, 1993, was $22,795,000 compared to $23,084,000 for the three-month period ended June 30, 1992.
 Net income for the six months ended June 30, 1993 was $1,914,000 or $.14 per share compared to a net loss of ($539,000) or ($.04) per share for the same period in 1992. Revenue for the six-month period ending June 30, 1993 was $40,538,000 compared to $39,812,000 for the same period in 1992.
 Francis M. Williams, chairman and president, stated, "The continued earnings improvement is a result of strengthening revenue and profitability of TransCor Waste Services, Inc. ("TransCor"), and the company's environmental infrastructure business. Increases resulting from TransCor's operations are due to continued penetration in the Florida solid waste market. Improvements in the environmental infrastructure area are due to continued profit margin improvement resulting from cost control measures and general strengthening in the environmental infrastructure markets. The lack of revenue growth is due to a decline in the company's environmental remediation business that is operating in a remediation market, which currently consists of limited spending on the cleanup of designated hazardous waste sites. We are, however, experiencing increases in bidding activity and opportunities in the environmental remediation business and expect the prospects to improve."
 KIMMINS ENVIRONMENTAL SERVICE CORP.
 Statements of Operations (unaudited)
 Quarter ended June 30, Six months ended June 30,
 1993 1992 1993 1992
 Gross revenue $22,795,000 $23,084,000 $40,538,000 $39,812,000
 Income
 (loss) from
 continuing
 operations $530,000 $460,000 $1,914,000 ($624,000)
 Income (loss)
 per share
 from
 continuing
 operations $.04 $.04 $.14 ($.05)
 Net income (loss) $530,000 $491,000 $1,914,000 ($539,000)
 Income (loss)
 per share $.04 $.04 $.14 ($.04)
 Weighted average
 shares
 outstanding 13,329,000 13,329,000 13,329,000 13,328,000


Kimmins Environmental Service Corp. and its subsidiaries provide s waste management services including transfer, collection, demolition and recycling; and specialty contracting services, including infrastructure development, dismantling and abatement, hazardous waste remediation, and incineration.
 Kimmins Environmental Service Corp. is headquartered in Tampa, Fla., and has regional offices in Niagara Falls, N.Y., and Houston. Kimmins Environmental Service Corp.'s stock is traded on the New York Stock Exchange under the symbol "KVN".
 -0- 7/29/93
 /CONTACT: S. David Silver of Kimmins Environmental Service Corp., 813-247-0182/
 (KVN)


CO: Kimmins Environmental Service Corp. ST: Florida IN: SU: ERN

AW-RC -- FL004 -- 7493 07/29/93 11:57 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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