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PERMA-FIX ENVIRONMENTAL SERVICES, INC. ANNOUNCES SECOND QUARTER RESULTS

 ATLANTA, Aug. 16 /PRNewswire/ -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) announced today that for its second quarter ended June 30, gross revenue increased to $1,907,479 from $1,729,338 for the corresponding period in 1992.
 The net loss for the period ended June 30, was $255,469 or $.07 per share as compared to a net loss of $162,528 or $.07 per share for the corresponding period in 1992. Financial data for Residual Technologies Inc. ("RTI") (closed in escrow March 24, 1993, pending certain governmental approvals) and American Resource Recovery, Inc. (ARR) (a definitive agreement signed July 27, 1993 subject to, but not limited to, permit transfer and completion of environmental audit) are not included in above 2nd quarter results.
 Dr. Louis F. Centofanti, president of the company stated that: "Revenues for the second quarter of 1993 grew substantially in all areas except by-product materials, which experienced a decline in revenues of $381,839 due to the completion of a large one-time project in 1992. Losses for the second quarter of 1993 include operating losses for newly opened mobile treatment facilities and aggressive expansion companywide. Due to accelerating customer acceptance of the Perma-Fix Mobile treatment process, four new mobile treatment facilities have been approved in Atlanta; Memphis, Tenn.; Houston; and St. Louis. This will bring the number of operating units to nine (9). In the short term the four new facilities will continue to adversely affect earnings. We do, however, expect substantial financial improvement in 1993 due to new Perma-Fix mobile facilities. With ongoing aggressive expansion, profitability by the end of 1993 remains one of our goals."
 Perma-Fix Environmental Services, Inc. provides environmental engineering and hazardous waste treatment and reclamation services.
 PERMA-FAX ENVIRONMENTAL SERVICES, INC.
 3 month period ending 6/30/93 6/30/92
 Revenue $1,907,479 $1,729,338
 Income (loss) $ (255,469) (162,528)
 Weighted average shares 3,576,080 2,271,919
 Net loss/share $ (.07) $ (.07)
 -0- 8/16/93
 /CONTACT: Priscilla Price of Perma-Fix Environmental Services, 404-847-9990/
 (PESI)


CO: Perma-Fix Environmental Services, Inc. ST: Georgia IN: ENV SU: ERN

BR-RA -- AT006 -- 3257 08/16/93 16:40 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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