Printer Friendly

THERMO PROCESS SYSTEMS ANNOUNCES SECOND QUARTER RESULTS

 WALTHAM, Mass., Nov. 9 /PRNewswire/ -- Thermo Process Systems Inc. (AMEX: TPI) today reported revenues of $13,029,000 for the second quarter of fiscal 1994, compared with $11,184,000 for the second quarter of fiscal 1993. Net income was $778,000, compared with $624,000 last year.
 Dr. John P. Appleton, president and chief executive officer of Thermo Process Systems, said, "Our growth in revenues this year has come primarily from the expansion of our network of soil-remediation centers since June 1992, with sites we have developed or acquired in California, Florida, and Oregon."
 Thermo Process Systems provides environmental services primarily for the remediation of petroleum-contaminated soils, in addition to a comprehensive range of metallurgical processing services. The company also designs, manufactures, and sells advanced custom-engineered thermal- processing systems for the automated heat treating of metal parts. Thermo Process Systems is a public subsidiary of Thermo Electron Corporation(NYSE: TMO)
 Thermo Process Systems Inc. Financial Highlights
 Three Months Ended Six Months Ended
 Oct. 2, Sept. 26, Oct. 2, Sept. 26,
 1993 1992 1993 1992
 Revenues $13,029,000 $11,184,000 $26,077,000 $21,349,000
 Inc. Bef.
 Inc. Taxes
 and Cumulative
 Effect of
 Change in Account.
 Principle 979,000 788,000 2,071,000 1,204,000
 Inc. Bef.
 Cumulative Effect
 of Change in
 Accounting
 Principle 778,000 624,000 1,393,000 973,000
 Cumulative
 Effect of Change
 in Accounting
 Principle (a) --- --- 500,000 ---
 Net Inc. 778,000 624,000 1,893,000 973,000
 Earns. Per Share
 Bef. Cumulative
 Effect of Change
 in Account. Princ. .05 .04 .08 .06
 Earns. Per Share .05 .04 .11 .06
 Weighted Avg.
 Shares 16,816,000 16,736,000 16,804,000 16,740,000
 (a) Reflects the adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," in the first quarter of fiscal 1994.
 -0- 11/9/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO TPI)


CO: Thermo Electron Corporation; Thermo Process Systems Inc. ST: Massachusetts IN: ENV SU: ERN

JL -- NE009 -- 2117 11/09/93 09:22 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 9, 1993
Words:345
Previous Article:THERMO INSTRUMENT SYSTEMS REPORTS RECORD THIRD-QUARTER PROFITS
Next Article:FORMER IBM CHAIRMAN AND CEO FRANK T. CARY JOINS ONTOS BOARD
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters