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NUCLEAR SUPPORT SERVICES REPORTS SECOND QUARTER RESULTS

 CAMPBELLTOWN, Pa., April 28 /PRNewswire/ -- Nuclear Support Services Inc. (NASDAQ: NSSI) reported consolidated net income of $324,279 or $.15 per share on revenues of $20,387,938 for its second quarter of FY 93 compared to $168,200 or $.08 per share on revenues of $23,512,550 for the comparable period last year.
 Year to date consolidated net income for FY 93 totaled $446,496 or $.21 per share compared to FY 92 figures of $138,025 or $.07 per share. Revenues for the respective six month periods were $37,735,525 and $40,786,729.
 Joe C. Quick, Chairman, President and Chief Executive Officer of NSSI said, "Consolidated earnings for the three and six month periods more than doubled when compared to the same periods last year, despite declining nuclear revenues. NSSI's emphasis on company-wide cost reduction is the primary factor contributing to improved earnings. We anticipate Henze's non-nuclear revenues to continue to show improvement. NSS NUMANCO's nuclear business is expected to weaken during the second half of fiscal year 1993, reflecting ongoing pressures being experienced by nuclear utility customers as they strive to reduce operating and maintenance costs."
 NSSI is a leading company providing support and maintenance to the nuclear power, fossil fuel and processing industries.
 NUCLEAR SUPPORT SERVICES, INC.
 Consolidated Statement of Operations (Unaudited)
 Six Months Ended March 31 1993 1992
 Revenues $37,735,525 40,786,729
 Income from operations 1,196,606 557,045
 Other expense, net (427,110) (499,020)
 Earnings before income taxes 769,496 58,025
 Income tax expense (benefit) 323,000 (23,000)
 Net earnings before cumulative
 effect of change in accounting
 for income taxes 446,496 35,025
 Cumulative effect of change in
 accounting for income taxes --- 103,000(A)
 Net earnings $446,496 138,025(A)
 Earnings per share $.21 $.07
 Weighted average common and
 common equivalent shares 2,177,559 2,173,597
 (A) Restated to give effect to the adoption of Statement of Financial Accounting Standards, No. 109, Accounting for Income Taxes, effective as of Oct. 1, 1991.
 Three Months Ended March 31 1993 1992
 Revenues $20,387,938 23,512,550
 Income from operations 762,400 550,998
 Other expense, net (203,121) (271,798)
 Earnings before income taxes 559,279 279,200
 Income tax expense 235,000 111,000
 Net earnings $324,279 168,200
 Earnings per share $.15 $.08
 Weighted average common and
 common equivalent shares 2,185,512 2,173,655
 /delval/
 -0- 4/28/93
 /CONTACT: Joe C. Quick, chairman, president and CEO of Nuclear Support Services, 717-838-8125/
 (NSSI)


CO: Nuclear Support Services, Inc. ST: Pennsylvania IN: SU: ERN

MJ -- PH015 -- 1939 04/28/93 11:13 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
Words:448
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