Inc.'s (RESI) second quarter results, the company said on Friday.

For the quarter ended June 30, the company's profit was $698,000, down 16 percent from $827,000 reported in second quarter 1994.

"The decrease in earnings is wholly a result of a 37 percent tax rate applied to the earnings in the 1995 period versus no tax provision for the same period in 1994,'' the company said.

RESI is a spin-off of Bermuda-registered Republic Waste Industries. Before tax income rose 33 percent to $1.1 million compared to $827,000. Revenue rose to $13 million compared to $12 million, an increase of eight percent. For the six months ended June 30 profit increased 76 percent to $1.2 million compared to $681,000 for the same period in 1994.

Six month revenue rose to $25.2 million compared to $22.3 million.

Operating income increased to $1.9 million compared to $1 million.

"The company continues to show gradual growth as a result of both price and volume increases, RESI said.

Management anticipates that the company will continue to make progress in 1995 through continued internal growth and acquisitions.

RESI is a hazardous waste company servicing industrial and commercial waste generators in the eastern US and Canada.