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MOLTEN METAL TECHNOLOGY ANNOUNCES SECOND-QUARTER RESULTS

    WALTHAM, Mass., Aug. 5 /PRNewswire/ -- Molten Metal Technology, Inc. (NASDAQ: MLTN) reported second quarter financial results.  Revenue was $728,000 and net losses were $2.46 million (13 cents per share) which is in line with analysts' estimates.  Revenue for the quarter increased from $299,000 in the second quarter of 1992 and this increase is due to increased revenue from certain of the company's strategic alliance partners.  The increased loss over the same period in 1992 is a result of the company's continued focus on the development of its Fall River facility.
    For the six months ended June 30, 1993 the company reported revenues of $984,000 and a loss of $5.42 million (33 cents per share).  Revenues were below the same period in 1992 due to a large one-time consulting payment that was made in the first quarter of 1992.  The increased loss is due in part to increased development activities related to the start- up of its Fall River facility.
    "We have continued to make progress on many of our milestones for 1993" said William M. Haney, chairman and CEO of Molten Metal Technology.  "We have been very pleased with the results from our pre- commercialization trials at our Fall River facility and have begun paid technical development programs to process feedstocks for two significant customers from industry and the federal government."
    Molten Metal Technology is an environmental technology company commercializing a breakthrough proprietary recycling technology known as Catalytic Extraction Processing (CEP).  CEP makes valuable products from wastes by dissolving them in a molten metal bath.  Broadly applicable to a wide variety of hazardous and non-hazardous wastes, CEP has the potential to obviate the need for incineration and landfilling.
                    MOLTEN METAL TECHNOLOGY, INC.
                 CONSOLIDATED STATEMENT OF OPERATIONS
                             Quarter Ended          Six Months Ended
                       6/30/93       6/30/92      6/30/93      6/30/92
                     (unaudited)
    Revenue           $727,500       $298,829     $984,150   $2,316,327
    Net loss       ($2,462,607)   ($1,661,726) ($5,419,810) ($2,406,904)
    Net loss
     per share       (13 cents)     (13 cents)   (33 cents)   (19 cents)
                      MOLTEN METAL TECHNOLOGY, INC.
                  CONDENSED CONSOLIDATED BALANCE SHEET
                                  June 30, 1993        Dec. 31, 1992
                                   (unaudited)
    Assets:
    Current assets                 $57,724,989           $2,647,090
    Long-term assets                12,986,038            8,876,086
    Total                          $70,711,027          $11,523,176
    Liabilities and stockholders
     equity:
    Current liabilities             $2,276,744           $2,719,966
    Long-term liabilities            5,175,864            3,538,531
    Stockholders equity             63,258,419            5,264,679
    Total                          $70,711,027          $11,523,176
    -0-             08/05/93
    CONTACT:  Benjamin T. Downs, vice president finance and administration, Molten Metal Technology, 617-487-7654
    (MLTN) CO:  MOLTEN METAL TECHNOLOGY SU:  ERN ST:  MA


-- NE006 -- X234 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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