GTS Duratek of Columbia posts first prrofitable quarter

BY THE NUMBERS

July 30, 1992|By Ted Shelsby | Ted Shelsby,Staff Writer

GTS Duratek Inc., a young Columbia-based technology company involved in environmental cleanup, reported its first profitable quarter yesterday, along with a prediction of more to come.

The company's optimistic forecast is based on a recent $3.4 million contract with the U.S. Department of Energy, said Robert E. Prince, president and chief executive. GTS will demonstrate a new process it claims can cut billions off the cost of cleaning up nuclear weapons production sites.

For the quarter that ended June 30, GTS earned $55,086, or 1 cent a share, after losing $34,272 in the same quarter last year. Revenues were $8.98 million, up from $8.31 million.

"This is our first positive quarter since our reorganization last November," Mr. Prince said of the consolidation of General Technical Services Inc. and Duratek Corp. "We anticipate positive earnings for the year."

The new cleanup process was developed jointly by GTS and Catholic University of America. It uses contaminated soil and water to trap the radioactive waste in glass and doesn't leave any contaminated byproducts, Mr. Prince said. A third partner is AWC Lockheed, a unit of the Lockheed Corp.

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Three months ended 6/30/92

... ... ... ... ... ...Revenue... ... ... ... ... ... Net... ... ... Share '92... ... ... ... .8,982,030... ... ... ... ... 55,086... ... ... 0.01

'91... ... ... ... .8,318,457... ... ... ... . (34,272)... ... . (0.01)

% change... ... ... ... . +8.0... ... ... ... ... ... .--... ... ... .. -- +

Six months ended 6/30/92

... ... ... ... ... ..Revenue... ... ... ... ... ... Net... ... ... Share

'92... ... ... ... 17,900,000... ... ... ... (124,000)... ... . (0.02)

'91... ... ... ... 18,100,000... ... ... ... (107,000)... ... . (0.02)

% change... ... ... ... ..-1.1... ... ... ... ... ... --... ... ... .. --

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