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NYTEST ENVIRONMENTAL ANNOUNCES RECORD REVENUES RECORD EARNINGS BEFORE TAXES

 NYTEST ENVIRONMENTAL ANNOUNCES RECORD REVENUES
 RECORD EARNINGS BEFORE TAXES
 PORT WASHINGTON, N.Y., March 2 /PRNewswire/ -- Nytest Environmental Inc. (NASDAQ: NYTS) today announced the highest annual revenues and operating earnings in its history. Revenues for 1991 increased 12.5 percent to $7,190,914, up from $6,392,013 in the prior year. Income before taxes increased 20.4 percent to $732,836, compared to $608,636 in 1990. Net income before extraordinary credit increased to $441,839 from $376,221, an increase of 17.4 percent. Net income was $441,839, compared to $501,221 in 1990, which benefited from a tax loss carry- forward of $125,000. The extraordinary credit from utilization of tax benefit was fully used in 1990 and did not affect net income in 1991. Earnings per share were $.07 in 1991 and $.09, including a $.02 extraordinary credit in 1990.
 John Gaspari, president of Nytest, stated that management is confident that the company will continue to increase its growth and will continue to produce strong results in revenues and earnings in the future.
 Nytest provides specialized analytical services directed at the accurate measurement of potentially hazardous waste for industry and governmental agencies.
 NYTEST ENVIRONMENTAL, INC.
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Revenue 2,083,023 1,681,426 7,190,914 6,392,013
 Income before
 income taxes 197,701 173,381 732,836 608,636
 Provision for
 income taxes 90,997 49,715 290,997 232,415
 Net income before
 extraord. credit 106,704 123,666 441,839 376,221
 Extraord. credit (A) -- 37,500 -- 125,000
 Net income 106,704 161,166 441,839 501,221
 Earnings per share
 before extraord.
 credit (A) .02 .02 .07 .07
 Earnings per share .02 .03 .07 .09
 Weighted average shares
 outstanding (B) 6,891,283 5,747,644 6,292,916 5,747,644
 (A) Income tax benefit from utilization of loss carry-forward.
 (B) One million shares of common stock were issued in a public offering in August 1991.
 -0- 3/2/92
 /CONTACT: John Gaspari president of Nytest Environmental, 516-625-5500/
 (NYTS) CO: Nytest Environmental Inc. ST: New York IN: SU: ERN


SM-KW -- NY033 -- 3901 03/02/92 11:10 EST
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Publication:PR Newswire
Date:Mar 2, 1992
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