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ROLLINS ENVIRONMENTAL SERVICES REPORTS SECOND QUARTER RESULTS; REVENUES UP 15 PERCENT, EARNINGS UP 43 PERCENT

 ROLLINS ENVIRONMENTAL SERVICES REPORTS SECOND QUARTER RESULTS;
 REVENUES UP 15 PERCENT, EARNINGS UP 43 PERCENT
 WILMINGTON, Del., April 14 /PRNewswire/ -- Rollins Environmental Services, Inc. (NYSE, PSE: REN) today reported results for the second fiscal quarter and the six months ended March 31, 1992.
 For the second quarter, revenues increased 15 percent to $63,209,000 from $55,081,000 in the prior year, due mainly to increased incineration volume processed at higher average prices and improved operational on- stream time. Net earnings improved 43 percent to $8,619,000 from $6,020,000, while earnings per share increased 40 percent to 14 cents compared to 10 cents for the prior year.
 For the six months ended March 31, 1992, revenues increased 9 percent to $117,121,000 from $107,095,000. Net earnings improved 22 percent to $14,612,000 from $12,001,000 and earnings per share increased 20 percent to 24 cents compared to 20 cents for the prior year.
 The company is a technological leader for commercial incineration in the chemical waste treatment and disposal industry and operates facilities in Baton Rouge and Plaquemine, La.; Bridgeport, N.J., and Deer Park, Texas. Chempak treatment and disposal services for small- quantity generators of hazardous waste are provided through offices located in Delaware, North Carolina, Michigan, Illinois, Louisiana, Texas, New Mexico, California, Connecticut, Florida and Washington. The company also operates waste processing, recycling and repackaging facilities in Tipton, Mo., and Los Angeles, and a major laboratory facility in Ann Arbor, Mich.
 ROLLINS ENVIRONMENTAL SERVICES, INC.
 Consolidated Balance Sheet
 (Dollars in thousands; unaudited)
 At March 31 1992 1991
 Assets:
 Current assets:
 Cash and cash equivalents $46,959 $40,538
 Accounts receivable, net 41,799 35,350
 Deferred federal income taxes 4,768 5,018
 Other current assets 7,710 6,137
 Total 101,236 87,043
 Property and equipment, at cost,
 net of accumulated depreciation 155,879 145,319
 Other assets 9,296 9,575
 Total 266,411 241,937
 Liabilities and shareholders' equity:
 Current liabilities:
 Accounts payable $8,488 $7,963
 Accrued liabilities 12,554 9,871
 Accrued remediation and other costs 8,676 9,742
 Current income taxes payable 2,324 1,146
 Current maturities of long-term debt 2,263 1,749
 Total 34,305 30,471
 Long-term debt 6,102 8,365
 Deferred federal income taxes 12,641 10,718
 Accrued remediation and other costs 18,966 20,614
 Other liabilities 2,378 3,285
 Shareholders' equity 192,019 168,484
 Total 266,411 241,937
 ROLLINS ENVIRONMENTAL SERVICES, INC.
 Consolidated Statement of Earnings
 (In thousands; unaudited)
 Periods ended Three Months Six Months
 March 31 1992 1991 1992 1991
 Revenues $63,209 $55,081 $117,121 $107,095
 Expenses:
 Operating 37,536 34,368 71,301 66,571
 Depreciation 4,260 3,925 8,444 7,801
 Selling and administrative 7,906 7,153 14,258 13,545
 Interest 169 222 357 377
 Total 49,871 45,668 94,360 88,294
 Earnings before
 income taxes 13,338 9,413 22,761 18,801
 Income taxes 4,719 3,393 8,149 6,800
 Net earnings 8,619 6,020 14,612 12,001
 Earnings per share $.14 $.10 $.24 $.20
 Average common shares and
 equivalents outstanding --- --- 60,575 60,444
 -0- 4/14/92
 /CONTACT: Jack Hornberger, group vp, 302-479-2949, or Lee F. Rattigan, group vp, 302-479-3314, both of Rollins Environmental Services/
 (REN) CO: Rollins Environmental Services, Inc. ST: Delaware IN: SU: ERN


MP-LJ -- PH004 -- 8124 04/14/92 09:37 EDT
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Date:Apr 14, 1992
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