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O'BRIEN ENVIRONMENTAL ENERGY REPORTS THIRD QUARTER/NINE MONTHS GAINS

O'BRIEN ENVIRONMENTAL ENERGY REPORTS THIRD QUARTER/NINE MONTHS GAINS
 PHILADELPHIA, April 30 /PRNewswire/ -- Leading energy project developer O'Brien Environmental Energy (AMEX: OBS) today announced gains in earnings and revenues for the third quarter and nine months ended March 31, 1992.
 The company achieved a third quarter net profit of $1,354,000 or 8 cents per share, compared to a net loss of $1,522,000 or 12 cents per share for the like quarter last year. For the nine months, the net profit was $2,203,000 or 15 cents per share versus a net loss of $3,098,000 or 24 cents per share for the initial nine months of 1991.
 Revenues for the periods reached record levels, climbing to $27,212,000 for the third quarter from $14,095,000 for the same period last year, and increasing to $73,783,000 for the nine months versus $32,975,000 for the comparable period in 1991.
 "This significant improvement in the company's performance is due to increasingly strong project and development operations," said Chief Financial Officer, Joel Cooperman. "We expect overall operations to continue at high levels, particularly as we enter the peak summer season," he said.
 O'BRIEN ENVIRONMENTAL ENERGY
 Financial Highlights (Unaudited)
 Period ended Three months Nine months
 March 31 1992 1991 1992 1991
 Revenues $27,212,000 $14,095,000 $73,783,000 $32,975,000
 Net income (loss) 1,354,000 (1,522,000) 2,203,000 (3,098,000)
 Earnings (loss)
 per share $ .08 $ (.12) $ .15 $ (.24)
 Shares outstg. 16,781,000 12,723,000 14,228,000 12,729,000
 -0- 4/30/92
 /CONTACT: Hal LeVay of Porter, LeVay & Rose, 212-564-4700, for O'Brien Environmental Energy/
 (OBS) CO: O'Brien Environmental Energy ST: Pennsylvania IN: SU: ERN


SH-OS -- NY020 -- 4792 04/30/92 09:37 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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