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SECURITY ENVIRONMENTAL SYSTEMS REPORTS 46 PERCENT INCREASE IN NINE MONTHS PROFITS

 SECURITY ENVIRONMENTAL SYSTEMS REPORTS
 46 PERCENT INCREASE IN NINE MONTHS PROFITS
 GARDEN GROVE, Calif., May 19 /PRNewswire/ -- Stephen Grossman, president of Security Environmental Systems (NASDAQ: SENV) announced today sharply increased revenues and earnings for the three months and nine months ended March 31, 1992.
 Revenues for the third quarter March 31, 1992 increased 17 percent to $1,978,836 compared with $1,688,161 for the same quarter last year. Net income, after reflecting tax benefits resulting from utilization of net operating loss carryforwards of $61,000 increased to $151,774 or $.012 per share on 12,532,000 shares outstanding compared with $96,369 or $.009 per share on 10,608,823 shares outstanding.
 For the nine months ended March 31, 1992 revenues rose 28 percent to $5,485,348 compared with $4,265,956 for the same period last year. Net income, which included tax benefits resulting from the utilization of net operating loss carryforwards of $148,000, increased to $402,614 or $.035 per share on 11,542,000 shares outstanding compared with $273,940 and $.026 per share on 10,608,000 shares outstanding for the same period last year.
 Grossman said that "We are pleased with the generally increasing trend of revenues and profitability for the current fiscal year in spite of considerably higher expenses associated with the hiring of new employees, and additions to the company's fleet of hazardous waste removal vehicles. The increase in revenues reflect a strong marketing focus for the company to increase its biomedical and hazardous waste business. We will continue to emphasize customer expansion in the targeted areas of hazardous waste disposal, and within the geographical confines of our branch offices and equipment.
 "As recent examples of our marketing success, most recently we have been awarded a substantial contract from the Hoag Memorial Hospital for the disposal of medical waste in Orange County. We have also recently been granted a contract by the Defense Logistics Agency of the Federal Government for the pick up and disposal of the hazardous waste at eight U.S government military installations throughout New Mexico and western Texas. The value of that contract over the next 24 months will be approximately $800,000." Noting the company's expansion of operations, Grossman noted that "Most recently we have also expanded our field activities into New Mexico and western Texas with the opening of offices in Albuquerque, N.M. and Phoenix. The new offices will service recently acquired contracts and serve as an anchor for development in those regions."
 Security Environmental Systems founded in 1972, disposes of biomedical and hazardous waste by incineration and steam sterilization and conducts inter-state transportation of hazardous waste. The company operates from facilities in Garden Grove, Vernon and Long Beach, Calif. The company will be opening offices in Albuquerque, and Phoenix, within the next 30 days.
 SECURITY ENVIRONMENTAL SYSTEMS INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Revenue $1,978,836 $1,688,161
 Expenses
 Operating 1,012,802 799,741
 General & administrative 724,011 606,738
 Interest 127,625 127,917
 Other income (37,376) (30,503)
 Income before provision for
 income taxes and
 extraordinary items 151,774 184,268
 Provision for income taxes (61,000) (87,899)
 Income before extraordinary
 items 90,774 96,369
 Extraordinary items, tax benefit
 resulting from utilization of
 net operating carry forward 61,000 ---
 Net income $151,774 $96,369
 Earnings per share
 Income before extraordinary
 items $.007 $.009
 Extraordinary .005 ---
 Net income per share $.012 $.009
 Weighted average number of
 common shares outstanding 12,532,688 10,608,823
 SECURITY ENVIRONMENTAL SYSTEMS INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (Unaudited)
 Nine Months Ended
 March 31,
 1992 1991
 Revenue $5,485,348 $4,265,956
 Expenses
 Operating 2,878,096 2,035,232
 General & administrative 1,947,062 1,555,459
 Interest 350,876 329,875
 Other income (93,300) (92,550)
 Income before provision for
 income taxes and
 extraordinary items 402,614 437,940
 Provision for income taxes (148,000) (164,000)
 Income before extraordinary
 items 254,614 273,940
 Extraordinary items, tax benefit
 resulting from utilization of
 net operating carry forward 148,000 ---
 Net income $402,614 $273,940
 Earnings per share
 Income before extraordinary
 items $.022 $.026
 Extraordinary .013 ---
 Net income per share $.035 $.026
 Weighted average number of
 common shares outstanding 11,542,122 10,608,823
 -0- 5/19/92
 /CONTACT: Jonathan Grossman, executive VP and CFO of Security Environmental Systems, 714-892-6645, or William F. Coffin of Financial Relations Board, 818-783-2400, for Security Environmental Systems/
 (SENV) CO: Security Environmental Systems ST: California IN: SU: ERN


AL-EH -- LA027 -- 2108 05/19/92 18:56 EDT
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Date:May 19, 1992
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