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BRESLER & REINER, INC. (OTC), REPORTS FIRST QUARTER EARNINGS

 BRESLER & REINER, INC. (OTC), REPORTS FIRST QUARTER EARNINGS
 WASHINGTON, May 15 /PRNewswire/ -- Bresler & Reiner, Inc. (OTC), reported net income of $409,000, or 14 cents per share, on revenues of $7,892,000 for the three months ended March 31, 1992. For the comparable period in 1991, the company earned $529,000, or 19 cents per share, on revenues of $8,220,000.
 Charles S. Bresler, chairman of the board, said the 1992 results include both significant revenues from the sale of a parcel of commercial ground and substantial continuing losses at a condominium- hotel joint venture. Home sales at the company's housing projects were unusually slow during the first quarter of 1992.
 Bresler & Reiner, Inc., engages in residential land development and construction directly and through joint ventures, and operates motel, apartment and office projects and a shopping mall/office complex in the Washington metropolitan area. The company also owns two nursing homes and operates an equipment leasing business.
 BRESLER & REINER, INC.
 Financial Summary
 Three Months Ended March 31, 1992 1991
 Revenues $7,892,000 $8,220,000
 Costs of Sales & Expenses 6,736,000 7,401,000
 Income Before Taxes 1,156,000 819,000
 Provision for Taxes 222,000 287,000
 Minority Interest in Earnings
 (Losses) of Subsidiaries 525,000 3,000
 Net Income 409,000 529,000
 Earnings Per Common Share $0.14 $0.19
 Weighted Average of Shares
 Outstanding 2,836,653 2,839,653
 -0- 5/15/92
 /CONTACT: Philip Friedman, treasurer, Bresler & Reiner, 202-488-8800/ CO: Bresler & Reiner, Inc. ST: District of Columbia IN: SU: ERN


IH-MH -- DC004 -- 0664 05/15/92 10:44 EDT
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Publication:PR Newswire
Date:May 15, 1992
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