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RYAN-MURPHY, INC. REPORTS THIRD-QUARTER RESULTS, EXPECTS FY 1991 TO OUTPACE FY 1990

 RYAN-MURPHY, INC. REPORTS THIRD-QUARTER RESULTS,
 EXPECTS FY 1991 TO OUTPACE FY 1990
 DENVER, Dec. 16 /PRNewswire/ -- Ryan-Murphy, Inc. (NASDAQ: RMII) today announced that third-quarter net income rose slightly from the second quarter of this year, but did not match its all-time-high third quarter a year earlier. The company said the period was the second-best third quarter in its history, eclipsed only by the previous year's when it was working on a very large soil remediation project.
 Third-quarter net income rose to $127,000, compared to $124,000 for the second quarter of this year. Earnings per share remained at a penny for each period. The third quarter a year earlier was the only profitable period of that year. It amounted to $436,000, or 4 cents a share, more than four times greater than the net income for the entire year, ended Jan. 31, 1991. Revenue for the third quarter ended Oct. 31, 1991, amounted to $3,055,000, off 6 percent from the second quarter, because of the timing of the sale of GEM (Good Earth Machine) units, the company's portable soil remediation machine.
 For the nine months, the company cut its loss in half, reporting $127,000, or a penny a share, vs. a loss of $254,000 for the first half of fiscal 1991. The previous year's nine months resulted in net income of $183,000, or 2 cents a share. Revenues for the nine months declined 3 percent to $7,953,000 from $8,213,000 for the year earlier nine months.
 "Soil remediation contracts that start off at normal levels and end much larger, like the one in the third quarter of fiscal 1990, can happen regularly in our business, but cannot be forecast on a quarterly basis," explained Robert Jennings, president. "We did not expect to build basic operations to surpass that record revenue and profitability. However, we recently began working on a site that has already become the largest project in our history.
 "We enter the fourth quarter with a strong backlog. With the sale of another GEM in November, we expect to register a strong fourth quarter and extend our series of consecutive quarterly increases in net income. In fact, we look forward to reporting better sales and net income in fiscal 1991 than in the previous year."
 At the end of the third quarter, Ryan-Murphy, Inc. held nearly a million dollars in cash and equivalents and had reduced its long-term debt by nearly 25 percent.
 A rapidly growing environmental company, Ryan-Murphy, Inc. provides a full range of underground storage tank and soil remediation services, including the installation and removal of underground tank and pipe systems, on-site soil remediation with its Good Earth Machine and consulting with its staff of geological engineers.
 RYAN-MURPHY, INCORPORATED
 STATEMENT OF OPERATIONS
 (in thousands except per share)
 Three Months Ended Nine Months Ended
 Oct. 31, Oct. 31,
 1991 1990 1991 1990
 Revenues $ 3,055 $ 4,049 $ 7,953 $ 8,213
 Cost of revenues earned 1,840 2,680 5,695 5,615
 Gross Profit 1,214 1,730 2,258 2,598
 Cost and expenses
 Selling, general and
 administrative
 expense 1,013 1,193 2,084 2,232
 Provision for bad debts 37 23 103 39
 Research and development - 10 - 15
 Gain (loss) from
 operations 165 504 72 312
 Non-operating income 26 (4) 51 33
 Interest expense (81) (64) (208) (162)
 Equity (deficit) in
 earnings of
 unconsolidated
 subsidiary 18 - (41) -
 Income (loss) before
 income tax 127 436 (127) 183
 Income taxes (223) - (223) -
 Net income (loss) $127 $436 $(127) $183
 Net income (loss)
 per share $.01 $.04 $(.01) $.02
 Average common shares
 outstanding 11,288 10,559 11,288 10,559
 Condensed Consolidated Balance Sheets
 Oct. 31, Jan. 31,
 1991 1991
 Total current assets $ 3,507 $ 4,092
 Total current liabilities $ 3,208 $ 3,681
 Net working capital $ 299 $ 411
 Long-term debt $ 716 $ 954
 Stockholders' equity $ 1,047 $ 1,123
 Total assets $ 4,971 $ 5,759
 -0- 12/16/91
 /CONTACT: Dennis Murphy, vice president, Ryan-Murphy, Inc., 303-293-3835; or Peter Leech, 708-564-5610, Bruce W. Marcus, 212-580-0703, Largent Parks, 214-960-5628, Earle Brown, 813-796-1452, or Tim King, 213-541-4415, all of Investor Relations Company, for Ryan-Murphy, Inc./
 (RMII) CO: Ryan-Murphy, Inc. ST: Colorado IN: SU: ERN


SB -- DE008 -- 2506 12/16/91 12:10 EST
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Date:Dec 16, 1991
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