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NYTEST ENVIRONMENTAL ESTIMATES INCREASED REVENUES, LOWER EARNINGS FOR 1992

 PORT WASHINGTON, N.Y., Feb. 12 /PRNewswire/ -- Nytest Environmental Inc. (NASDAQ: NYTS), a leading provider of specialized analytical services for the accurate measurement of hazardous waste, today reported that revenues for 1992 increased approximately 22 percent compared to 1991. Although the analysis of fourth quarter results has not been completed, the company anticipates a loss for the fourth quarter and a profit for the year ended Dec. 31, 1992. The company had reported net income of $302,708 on revenues of $6,781,447 for the nine months ended Sept. 30, 1992. The company expects audited results to be available March 15, 1993.
 John Gaspari, president, explained that the disappointing results related to a combination of factors, including increased marketing and sales expenses, increased reserves for receivables and the increase in staff in anticipation of future growth. He further observed that 1992 earnings were negatively impacted in the fourth quarter by decreased sales, reflecting a slow-down in the industry.
 Mr. Gaspari emphasized, however, that the demand for the company's specialized services remains strong and resulted in higher revenues for the full-year, despite a delay to 1993 of certain projects anticipated for the fourth quarter of 1992. The company, Mr. Gaspari added, remains focused on continuing its growth and improving its results through improving operational efficiencies.
 -0- 2/12/93
 /CONTACT: John Gaspari, president of Nytest Environmental Inc., 516-625-5500/
 (NYTS)


CO: Nytest Environmental Inc. ST: New York IN: SU: ERN

WB-LR -- NY043 -- 6250 02/12/93 15:39 EST
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Publication:PR Newswire
Date:Feb 12, 1993
Words:248
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