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KIMMINS ENVIRONMENTAL SERVICE CORP. REPORTS NET INCOME FOR THE THIRD QUARTER

 TAMPA, Fla., Nov. 12 /PRNewswire/ -- Kimmins Environmental Service Corp. (NYSE: KVN) today announced its third quarter and nine months gross revenue and earnings. Gross revenue for the three months ended Sept. 30, 1993, was $20,922,000 compared to $24,811,000 for the same period in 1992. Net income for the three months ended Sept. 30, 1993, was $334,000 or $.03 per share compared with $246,000 or $.02 per share for the same period in 1992.
 Gross revenue for the nine months ended Sept. 30, 1993, was $61,460,000 compared to $64,623,000 for the same period in 1992. Net income for the nine months ended Sept. 30, 1993, was $2,249,000 or $.17 per share compared to a net loss of ($293,000) or ($.02) per share for the same period in 1992.
 Francis M. Williams, chairman of the board and president, stated, "Our solid waste and infrastructure groups are performing well and responding to improved economic conditions in their markets. The overall reduction in revenue is due to reduced activity in the remediation group resulting from market conditions. In response to these market conditions, we have kept our capital investment and overhead low. The growth in the solid waste management segment through our 74 percent-owned public subsidiary, TransCor Waste Services, Inc., (NASDAQ: TRCW) has enhanced overall operating performance."
 KIMMINS ENVIRONMENTAL SERVICE CORP.
 Statements of Operations
 (Unaudited)
 Period ended Sept. 30,
 1993 1992 1993 1992
 Nine Months Nine Months Three Months Three Months
 Gross revenue $61,460,000 $64,623,000 $20,922,000 $24,811,000
 Net income
 (loss) $ 2,249,000 ($293,000) $334,000 $246,000
 Earnings (loss)
 per share $ .17 ($.02) $ .03 $ .02
 Weighted
 average shares
 outstanding 13,328,992 13,328,344 13,328,992 13,328,992
 Kimmins Environmental Service Corp. and its subsidiaries provide solid waste management services, including transfer, collection, demolition, and recycling; and specialty contracting services, including infrastructure development, dismantling and abatement, waste remediation, and incineration.
 Kimmins Environmental Service Corp. is headquartered in Tampa, and has regional offices in Niagara Falls, New York, and Houston. Kimmins Environmental Service Corp.'s stock is traded on the New York Stock Exchange under the symbol "KVN."
 -0- 11/12/93
 /CONTACT: S. David Silver of Kimmins Environmental Service Corp., 813-247-0182/
 (KVN)


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

RK-SS -- FL011 -- 3839 11/12/93 16:04 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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