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ROLLINS ENVIRONMENTAL SERVICES REPORTS THIRD QUARTER RESULTS; REVENUES UP 18 PERCENT, EARNINGS UP 69 PERCENT

 ROLLINS ENVIRONMENTAL SERVICES REPORTS THIRD QUARTER RESULTS;
 REVENUES UP 18 PERCENT, EARNINGS UP 69 PERCENT
 WILMINGTON, Del., July 15 /PRNewswire/ -- Rollins Environmental Services, Inc. (NYSE, PSE: REN) today reported results for the third fiscal quarter and the nine months ended June 30, 1992.
 For the third quarter, revenues increased 18 percent to $61,325,000 from $52,144,000 in the prior year, due mainly to improved incineration mix, higher average prices and improved operational on-stream time. Net earnings improved 69 percent to $8,287,000 from $4,891,000 while earnings per share increased 75 percent to 14 cents compared to 8 cents for the prior year.
 For the nine months ended June 30, 1992, revenues increased 12 percent to $178,446,000 from $159,239,000. Net earnings improved 36 percent to $22,899,000 from $16,892,000 and earnings per share increased 36 percent to 38 cents compared to 28 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 Statement of Earnings
 (In thousands; unaudited)
 Periods ended Three months Nine months
 June 30 1992 1991 1992 1991
 Revenues $61,325 $52,144 $178,446 $159,239
 Expenses:
 Operating 35,872 33,935 107,173 100,506
 Depreciation 4,516 3,954 12,960 11,755
 Selling and administrative 7,972 6,392 22,230 19,937
 Interest 156 197 513 574
 Total 48,516 44,478 142,876 132,772
 Earnings before
 income taxes 12,809 7,666 35,570 26,467
 Income taxes 4,522 2,775 12,671 9,575
 Net earnings 8,287 4,891 22,899 16,892
 Earnings per share $.14 $.08 $.38 $.28
 Average common shares and
 equivalents outstanding --- --- 60,542 60,450
 ROLLINS ENVIRONMENTAL SERVICES, INC.
 Consolidated Balance Sheet
 (Dollars in thousands; unaudited)
 June 30 1992 1991
 Assets:
 Current assets:
 Cash and cash equivalents $50,891 $47,352
 Accounts receivable, net 41,978 30,976
 Deferred federal income taxes 4,451 5,276
 Other current assets 8,344 5,237
 Total 105,664 88,841
 Property and equipment, at cost,
 net of accumulated depreciation 159,494 147,729
 Other assets 8,918 9,584
 Total 274,076 246,154
 Liabilities and shareholders' equity:
 Current liabilities:
 Accounts payable $9,575 $8,448
 Accrued liabilities 13,508 11,050
 Accrued remediation and other costs 8,363 10,656
 Current income taxes payable 1,705 778
 Current maturities of long-term debt 2,626 1,749
 Total 35,777 32,681
 Long-term debt 5,444 8,070
 Deferred federal income taxes 13,003 11,934
 Accrued remediation and other costs 17,739 18,175
 Other liabilities 3,159 3,273
 Shareholders' equity 198,954 172,021
 Total 274,076 246,154
 -0- 7/15/92
 /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


MK-MP -- PH002 -- 9380 07/15/92 08:26 EDT
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Date:Jul 15, 1992
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