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KIMMINS ENVIRONMENTAL SERVICE CORP. REPORTS NET INCOME FOR THE YEAR ENDED DEC. 31, 1991, OF $2,322,000

 KIMMINS ENVIRONMENTAL SERVICE CORP. REPORTS NET INCOME
 FOR THE YEAR ENDED DEC. 31, 1991, OF $2,322,000
 TAMPA, Fla., March 16 /PRNewswire/ -- Kimmins Environmental Service Corp. (NYSE: KVN) today announced that income from continuing operations for the year ended Dec. 31, 1991, was $2,593,000 or $.19 per share compared to a loss from continuing operations of ($2,154,000) or ($.17) per share for the year ended Dec. 31, 1990.
 Net income for the year ended Dec. 31, 1991, was $2,322,000 or $.17 per share compared to a net loss of ($1,790,000) or ($.14) per share for the year ended Dec. 31, 1990. Revenue for the year ended Dec. 31, 1991, was $100,646,000 compared to $99,312,000 for the year ended Dec. 31, 1990.
 Income from continuing operations for the fourth quarter ended Dec. 31, 1991, was $5,000 or $.00 per share compared to a loss from continuing operations of ($2,654,000) or ($.20) per share for the same time period in 1990. Net loss for the fourth quarter was ($355,000) or ($.03) per share compared to a net loss of ($2,817,000) or ($.21) per share for the same time period in 1990. Revenue for the fourth quarter was $23,883,000 compared to $27,194,000 for the same time period in 1990.
 In December the company announced its intent to spin-off its surety business, Cumberland Casualty & Surety Company to shareholders. The loss from discontinued surety operations was ($271,000) or ($.02) per share for the year ended Dec. 31, 1991, compared to income from discontinued operations of $364,000 or $.03 per share for the year ended Dec. 31, 1990. Loss from discontinued operations for the fourth quarter ended Dec. 31, 1991, was ($360,000) or ($.03) per share compared to a loss from discontinued operations of ($163,000) or ($.01) per share for the fourth quarter ended Dec. 31, 1990.
 Francis M. Williams, president of Kimmins Environmental Service Corp., commented: "There was a significant profit improvement in 1991 over 1990. More importantly, 1991 represented the completion of the company's transition to a solid waste management and environmental services focus. The costs of starting and establishing new businesses have impacted earnings; however, solid waste management and environmental services revenues have grown 19 percent from $76,342,000 for the year ended December 31, 1990, to $90,673,000 for the year ended December 31, 1991. Operating income of these business segments more than doubled and improved from $2,528,000 for the year ended December 31, 1990, to $5,738,000 for the year ended December 31, 1991. We are pleased with the results of our focus and this growth."
 Williams further stated: "The strategic focus on these segments and growth has completely offset the revenue and operating income lost from winding down general contracting services and several other business segments. Backlog is approximately $75 million. We anticipate that our focus on solid waste and environmental services will continue to strengthen our organization."
 Kimmins Environmental Service Corp.
 Statement of Operations
 Year ended Dec. 31 1991 1990
 Gross revenue $100,646,000 $ 99,312,000
 Income (loss) from cont.
 operations $ 2,593,000 $ (2,154,000)
 Per share $.19 $(.17)
 Net income (loss) $ 2,322,000 $ (1,790,000)
 Earnings per share $.17 $(.14)
 Wtd. avg. shares outst. 13,324,000 12,760,000
 Qtr. ended Dec. 31 1991 1990
 (Unaudited)
 Gross revenue $ 23,883,000 $ 27,194,000
 Income (loss) from cont.
 operations $ 5,000 $ (2,654,000)
 Per share $.00 $(.20)
 Net loss $ (355,000) $ (2,817,000)
 Earnings per share $(.03) $(.21)
 Wtd. avg. shares outst. 13,324,000 13,324,000
 Kimmins Environmental Service Corp. and its subsidiaries provide solid waste management services, including collection, transfer and recycling; environmental services, including hazardous waste remediation and incineration; dismantling and abatement of industrial facilities; and environmental infrastructure development.
 Kimmins Environmental Service Corp. is headquartered in Tampa, and has regional offices in Niagara Falls, N.Y.; Houston; Pittsburgh; San Francisco, and Los Angeles.
 -0- 3/16/92
 /CONTACT: S. David Silver of Kimmins Environmental Service Corp., 813-247-0125/
 (KVN) CO: Kimmins Environmental Service Corporation ST: Florida IN: SU: ERN


BR-BN -- AT003 -- 8270 03/16/92 11:22 EST
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Date:Mar 16, 1992
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