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NYTEST ENVIRONMENTAL REPORTS THIRD QUARTER/9 MONTHS RESULTS; THIRD QUARTER NET INCOME RISES 38 PERCENT ON 21 PERCENT REVENUE GAIN

 NYTEST ENVIRONMENTAL REPORTS THIRD QUARTER/9 MONTHS RESULTS;
 THIRD QUARTER NET INCOME RISES 38 PERCENT ON 21 PERCENT REVENUE GAIN
 PORT WASHINGTON, N.Y., Nov. 9 /PRNewswire/ -- Nytest Environmental Inc. (NASDAQ: NYTS), a leading provider of specialized analytical services for the accurate measurement and safe management of hazardous wastes, today reported improved results for the third quarter and nine months ended Sept. 30, 1992.
 Third quarter net income rose 38 percent to $171,025 or $.02 per share on 7,011,220 fully diluted shares outstanding from net income of $123,526 or $.02 per share on 6,344,819 fully diluted shares outstanding for the same period last year. Revenues for the three months increased 21 percent to $2,213,731 from $1,835,203 for the prior year's third quarter.
 Nine-month net income was $302,708 or $.04 per share on 7,011,220 fully diluted shares outstanding versus net income of $335,135 or $.06 per share on 5,951,369 fully diluted shares outstanding for the initial nine months of 1991. Revenues for the period were up 33 percent to $6,781,447 from $5,107,891 for the comparable period of the prior year.
 "We are gratified by the increases achieved in the third quarter and the continuing strong demand for our services," John Gaspari, president, said. "We continue to invest in the personnel and equipment necessary to provide the high quality of service for which we are known," he added. "Our backlog at Oct. 31 stood at $860,000, up modestly from $850,000 at July 31. We have entered into several contracts with potential value of more than $1 million above the backlog, helping to fuel our optimism for the future," Gaspari concluded.
 NYTEST ENVIRONMENTAL INC.
 Financial Highlights (Unaudited)
 Period ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Revenues $2,213,731 $1,835,203 $6,781,447 $5,107,891
 Income before taxes 294,060 226,026 520,475 535,135
 Provision for taxes 123,035 102,500 217,767 200,000
 Net income 171,025 123,526 302,708 335,135
 Earnings per share:
 Primary .02 .02 .04 .06
 Fully diluted .02 .02 .04 .06
 Average shares outstanding:
 Primary 6,960,100 6,306,556 6,957,178 5,922,398
 Fully diluted 7,011,220 6,344,819 7,011,220 5,951,369
 -0- 11/9/92
 /CONTACT: John Gaspari of NYTEST Environmental Inc., 516-625-5500/
 (NYTS) CO: Nytest Environmental Inc. ST: New York IN: SU: ERN


TS-OS -- NY053 -- 8662 11/09/92 11:27 EST
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Publication:PR Newswire
Date:Nov 9, 1992
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