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MISSIMER TO REPORT LOWER THAN EXPECTED THIRD-QUARTER RESULTS; FIVE-MONTH RESULTS FROM ETE ACQUISITION NOW TO BE BOOKED ALL IN FOURTH QUARTER

MISSIMER TO REPORT LOWER THAN EXPECTED THIRD-QUARTER RESULTS; FIVE-MONTH

RESULTS FROM ETE ACQUISITION NOW TO BE BOOKED ALL IN FOURTH QUARTER
 CAPE CORAL, Fla., July 15 /PRNewswire/ -- Missimer & Associates, Inc. (NASDAQ: MSMR) announced today that certain revenues and earnings expected to contribute to its third quarter will now be included in its fourth quarter, said Robert A. Fletcher, chairman and CEO.
 The effective date of Missimer's acquisition of ETE, Inc. will be April 1, 1992, but the company's accountants notified management this week that while all five months of ETE's results will be factored into year-end revenues and earnings, they will be incorporated into the final quarter of Missimer's fiscal year.
 In addition, certain projects started during the third quarter were delayed by a regulatory review procedures backlog. As a result, while certain costs of those projects were incurred in the third quarter, the revenue associated with those projects will be reported in the fourth quarter.
 Accordingly, results from the third quarter ended May 31, 1992 will be lower than originally anticipated, Fletcher said, while results for the fourth quarter will be similarly increased.
 "In both instances, there is no question of the revenue and earnings contribution," Fletcher said, "only a matter of timing. While the overall effect upon our fiscal year remains the same, because of the timing, there will be a significant impact upon our revenues and margins in two quarters."
 To accommodate the accounting delay, Missimer expects to file today for a five-day extension of its third quarter (for the period ended May 31, 1992) 10-Q report with the Securities and Exchange Commission.
 Missimer provides a wide range of environmental services to assess and remediate groundwater and soil contamination; to protect air quality; to assure regulatory compliance and to develop groundwater resources. Missimer has offices in Cape Coral, Jacksonville, Miami, Orlando, Palm Beach Gardens, Pensacola and Tampa, Fla.; New Orleans, La.; Charleston, S.C., and Dallas, Houston and San Antonio, Texas. ETE has offices in Bakersfield and El Centro, Calif.; Slate Hill, N.Y. and Lexington, S.C.
 -0- 7/15/92
 /CONTACT: Robert A. Fletcher, chairman and CEO of Missimer, 813-574-1919/
 (MSMR) CO: Missimer & Associates Inc. ST: Florida IN: SU: ERP


SH-TQ -- NY013 -- 9449 07/15/92 10:20 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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