Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, April 28, 1993                   TAG: 9304280109
SECTION: BUSINESS                    PAGE: B5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

The company said Tuesday its contract, initially funded at $495,000, has been expanded to $680,000 for the first year of work.

EPA has options to finance the program for an additional two years. If the federal agency exercises both options, the value of the contract could grow to $2.3 million.

ETS, which specializes in measurement and control of toxic emissions, also has received a subcontract from Energy and Environmental Research Corp. of Irvine, Calif.

Both the EPA contract and the subcontract are for evaluating source testing, source monitoring and analytical methods for industrial emissions. The subcontract, with all options exercised over four years, would be worth more than $1.9 million.

John Mycock, executive vice president of the Roanoke firm, said the awards put ETS in the forefront of source emission measurement in response to the 1990 amendments to the Clean Air Act.

In a separate matter, ETS on Tuesday reported a loss of $121,097 for its third quarter, ended Feb. 28, compared to earnings of $95,573 for the 1992 quarter. Revenues were $884,440 compared to $1.3 million.

For the ninth months, ETS had a loss of $361,205 compared to year-earlier profit of $85,295. Revenues were $2.98 million against $3.3 million in the 1992 period.

Chairman John McKenna said ETS markets were badly affected by the slow growth of the economy and the uncertainties of the presidential transition.

ITT Corp.

ITT Corp., New York operator of a night-vision products plant and a gallium arsenide technology center in Roanoke County, on Tuesday reported first-quarter net income of $175 million, or $1.30 per share, compared with a restated net loss of $487 million, or $3.71 per share, in the 1992 quarter, which included a cumulative catch-up adjustment of $625 million, or $4.71 per share, for accounting changes.

Net income per share was $1.37, up 30 percent from $1.08 per share in the year-ago period, excluding the accounting change. Sales were $5.1 billion, the same as the 1992 quarter.

Coastal Corp.

The Coastal Corp., Houston parent of ANR Coal Co. and Coastal Coal Sales Co. of Roanoke, on Tuesday reported net earnings of $25 million, or 24 cents per share, for the quarter ended March 31, compared to a loss of $6 million, or 6 cents per share, in the 1992 quarter. Operating profit totaled $154.6 million, up from $106.4 million a year ago. Operating revenues were $2,647.1 million compared with $2,536.1 million in 1992.