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SALES UP, EARNINGS DOWN IN C.H. HEIST MID-YEAR REPORT

 CLEARWATER, Fla., Aug. 9 /PRNewswire/ -- C.H. Heist Corporation (AMEX: HST) released figures today for the firm's first half-year results. Sales for the six-month period, which ended June 27, 1993, were up 8.2 percent, from $33,998,410 last year to $36,782,663 for this year's comparable period. Net income of $.09 per share was behind last year's mid-year per share earnings of $.18.
 Second quarter results show an increase in sales of 10.5 percent, with $20,257,150 in sales for the second quarter this year, as opposed to $18,329,035 for last year's similar quarter. Earnings per share were $.14 this year vs. $.20 per share in last year's second quarter.
 C.H. Heist, president and chairman, commented, "Although the first half-year has been profitable, it is below our expectations. The loss in the first quarter was difficult to overcome with the Canadian economy still down." In reviewing the company's performance, he said, "Ablest, our temporary help affiliate, has made outstanding strides; it now accounts for 45 percent of all corporate sales. To bolster the industrial services segment, we recently concluded the acquisition of Texas-based Ohmstede Mechanical Services, Inc."
 In a $4.8 million acquisition of OMSI assets, Heist added the capability of servicing refineries and other petrochemical plants with heat exchanger repair, cleaning, and maintenance, as well as bundle extraction, key elements in large plant turnarounds. Heist commented, "We were losing that business. Now, with that capability, we are able to offer a complete servicing package to refineries and other plants. Working with Heist, OMSI completed its first-ever Canadian assignment, servicing a major turnaround at a Shell refinery."
 For the six-month period, working capital increased $108,063 over the previous year. Capital expenditures were $1,494,928 as opposed to $1,303,812 for the prior year. The current ratio at mid-year is 3.5-to-1 and the quick ratio is 3.0-to-1. The balance sheet remains strong and stable.
 -0- 8/9/93
 /CONTACT: Richard J. O'Neil of C.H. Heist Corporation, 813-461-5656/
 (HST)


CO: C.H. Heist Corporation ST: Florida IN: SU: ERN

AW-CM -- FL005 -- 0805 08/09/93 14:07 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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