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SEVENSON ENVIRONMENTAL SERVICES, INC., REPORTS FIRST QUARTER RESULTS

 SEVENSON ENVIRONMENTAL SERVICES, INC.,
 REPORTS FIRST QUARTER RESULTS
 NIAGARA FALLS, N.Y., April 29 /PRNewswire/ -- Sevenson Environmental Services, Inc. (NASDAQ-NMS: SEVN) announced earnings for the first quarter ended March 31, 1992, equal to last year's record earnings of $.10 a share.
 Net earnings were $630,225, or $.10 a share on 6.5 million shares outstanding, vs. $675,836, or $.10 a share on 6.6 million shares outstanding, in the first quarter of 1991. Revenues for the quarter were lower at $12,043,640 vs. $13,916,526 last year, a 13 percent decline.
 Michael A. Elia, president of Sevenson, stated, "We are very pleased with first quarter results. Although revenues were lower, we were able to match last year's first quarter's record earnings of $.10 per share. The recession continues to have an impact on our business as lower revenues indicate. However, we have seen recently a significant increase in new bidding opportunities which leads us to expect improvement later this year."
 Sevenson provides a comprehensive range of field services for the remediation of sites and facilities contaminated by hazardous materials. The company, which is headquartered in Niagara Falls, N.Y., operates in the United States and Canada. Since entering the site remediation business in 1979, the company has performed over 350 projects including projects at the Love Canal and 26 other Superfund sites.
 SEVENSON ENVIRONMENTAL SERVICES, INC., AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 (Unaudited)
 Three-Month Period Ended March 31 1992 1991
 Revenues
 Contracts $11,974,436 $13,850,668
 Other 69,204 65,858
 12,043,640 13,916,526
 Costs and expenses:
 Cost of contracts:
 Direct costs 8,901,183 10,839,851
 Indirect costs 847,971 987,046
 Selling, general and
 administrative 1,673,822 1,581,561
 11,422,976 13,408,458
 Earnings from operations 620,664 508,068
 Other:
 Interest income 316,144 512,587
 Interest expense (42,556) (71,248)
 Gain (loss) on sale of
 property and equipment (9,027) 1,429
 264,561 442,768
 Earnings before income taxes 885,225 950,836
 Income taxes 255,000 275,000
 Net earnings 630,225 675,836
 Weighted average number of
 shares outstanding 6,511,400 6,586,400
 Earnings per share $.10 $.10
 -0- 4/29/92
 /CONTACT: William J. McDermott, vice president-finance of Sevenson Environmental Services, Inc., 716-284-0431/
 (SEVN) CO: Sevenson Environmental Services, Inc. ST: New York IN: SU: ERN


JT-CD -- PG015 -- 4543 04/29/92 16:03 EDT
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Date:Apr 29, 1992
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