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OHM REPORTS $0.14 PER SHARE FOR Q3 VS $0.10 ON A 9.4 PERCENT INCREASE IN NET REVENUES; CITES STRENGTH IN ITS GOVERNMENT BUSINESS; $0.27 PER SHARE FOR NINE MONTHS VS. $0.18; $820 MILLION RECORD BACKLOG

 FINDLAY, Ohio, Nov. 1 /PRNewswire/ -- OHM Corporation (NYSE: OHM), a leading on-site hazardous waste remediation services firm, today reported earnings per share of $0.14 for the third quarter ended Sept. 30, 1993, compared to $0.10 for the same period in 1992. Commenting on the results, James L. Kirk, chairman, president, and chief executive officer, said, "Despite a continued weak industrial sector, which has generally depressed results for companies in our segment of the environmental business, we are pleased that strength in our government business allowed us to report an increase in both revenues and earnings. Increased work from Department of Defense agencies and revenues from large multi-year contracts provided the foundation for the growth in net revenues during the third quarter. In addition, contract awards during the quarter, primarily from Department of Defense agencies, led to a record $820 million backlog of projects and government term contracts."
 Net revenues increased 9.4 percent to $46.8 million for the third quarter from $42.8 million for the same period in 1992. A 66.5 percent increase in net revenues from government clients more than offset a 15 percent decline in net revenues from industrial clients. Operating income for the quarter increased 34.4 percent to $4.4 million from $3.3 million, primarily as a result of the increase in revenues.
 During the quarter, OHM was awarded three government term contracts with a total potential value of $388 million over five years and a $29 million site specific contract with an industrial client to be performed over the next nine months. These awards led to a record $820 million backlog of projects and government term contracts at Sept. 30, 1993. This compared to $371 million at Dec. 31, 1992.
 For the nine months ended Sept. 30, 1993, earnings per share were $0.27 compared to $0.18 a year ago. Flat revenues for the period masked a significant increase in revenues from government clients. A 64.2 percent increase in revenues from government clients, particularly Department of Defense agencies, offset a 24.6 percent decrease in net revenues from industrial clients. Operating income for the nine months increased 34.4 percent to $9.2 million compared to $6.8 million a year ago. The increase in operating income was attributed primarily to cost control measures taken earlier in the year in response to a weak industrial sector.
 Kirk added, "We are pleased to report an increase in year-to-date earnings in the face of a weak industrial sector. Our strategy has been to diversify our source of revenues in the government sector and to focus on large projects and term contracts. We believe this strategy has served to minimize the effects of weakness in particular geographic territories and sectors of the economy."
 With nearly 25 years experience and the successful completion of more than 16,000 projects, OHM is a leading nationwide environmental remediation firm and a major emergency response contractor. The company provides a broad range of physical, chemical, biological, and thermal treatment technologies to clean up hazardous waste through its 25 locations in the United States. OHM provides its services to a diverse client base in the private sector including petroleum, chemical, transportation, and general manufacturing firms as well as the public sector including the U.S. Army Corps of Engineers, the U.S. Department of the Air Force, the U.S. Department of the Navy, the U.S. EPA, and at U.S. Department of Energy Facilities.
 OHM CORPORATION
 CONSOLIDATED SUMMARY FINANCIAL RESULTS
 (In Thousands, Except Per Share Data)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992(A) 1993 1992(A)
 (Unaudited) (Unaudited)
 Gross Revenues $62,063 $55,622 $163,990 $164,539
 Net Revenues 46,773 42,771 122,311 121,686
 Operating Income 4,379 3,259 9,165 6,820
 Net Income From
 Continuing Operations 1,749 1,226 3,307 2,144
 Discontinued Operations:
 Income (Loss)From Operations -- (23) -- (20)
 Cumulative Effect of Accounting
 Change(B) -- -- -- (857)
 Net Income $1,749 $1,203 $3,307 $1,267
 Net Income (Loss) Per Share:
 Continuing Operations $0.14 $0.10 $0.27 $0.18
 Discontinued Operations:
 Income (Loss) From
 Operations -- -- -- --
 Cumulative Effect of
 Accounting Change -- -- -- ($0.07)
 Net Income Per Share $0.14 $0.10 $0.27 $0.11
 Weighted Average Number of
 Common and Common Equivalent
 Shares Outstanding 12,331 12,052 12,225 12,068
 (A) -- The three and nine months ended Sept. 30, 1992 have been restated to report NSC Corporation ("NSC") under the equity method of accounting as a result of NSC's acquisition of the asbestos abatement division of The Brand Companies, Inc., completed in May 1993, which reduced the company's ownership in NSC from 70 percent to 41 percent.
 (B) -- The nine months ended Sept. 30, 1992 have been restated to give effect to the adoption of Statement of Financial Accounting Standards 109 "Accounting for Income Taxes" and discontinued operations.
 -0- 11/1/93
 /CONTACT: Sam Iapalucci, financial, 419-424-4924; Pamela K. M. Beall, financial, 419-425-6002; or Cheryl Rectorschek, media, 419-424-4929; all of OHM Corporation/
 (OHM)


CO: OHM Corporation ST: Ohio IN: ENV SU: ERN

BM -- CL016 -- 9011 11/01/93 09:29 EST
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