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BROWNING-FERRIS ANNOUNCES FISCAL 1992 RESULTS

 BROWNING-FERRIS ANNOUNCES FISCAL 1992 RESULTS
 HOUSTON, Nov. 12 /PRNewswire/ -- Browning-Ferris Industries, Inc.


(NYSE: BFI) today reported net income for the fiscal year ended Sept. 30, 1992, of $175,607,000 or $1.11 per share, on revenues of $3,287 million. For the fiscal year ended Sept. 30, 1991, net income was $65,177,000, or 42 cents per share, which included an after-tax special charge of $156,465,000, or $1.02 per share. Net income for fiscal 1991 before the special charge was $221,642,000, or $1.44 per share. Revenues for fiscal 1991 were $3,183 million. Net income was $50,171,000, or 30 cents per share, on revenues of $868 million. Net income for the fourth quarter of fiscal 1991 before the special charge was $44,551,000, or 29 cents per share, on revenues of $812 million. Including the special charge, the company reflected a net loss for the fourth quarter of fiscal 1991 of $111,914,000, or 73 cents per share.
 The number of common and common equivalent shares used to compute net income per share for fiscal 1992 rose to 158,662,000 versus 153,892,000 shares for fiscal 1991.
 Mr. William D. Ruckelshaus, chairman and chief executive officer, said, "Profits increased for the quarter compared with the same period one year ago, but they have not yet returned to acceptable levels. During fiscal 1992, lower profits resulted from higher disposal costs that we have not been able to pass through to our customers. At the same time, we are seeing improved recycling and medical waste results and improved productivity through our benchmarking program. As we look to fiscal 1993, we are confident that this program and our other strategies have put us on the right track."
 Browning-Ferris Industries, Inc. is one of the largest publicly-held companies engaged in providing waste services. Subsidiaries and affiliates collect, transport, treat and dispose of commercial, residential and municipal solid waste and industrial wastes. BFI subsidiaries are also involved in recycling, resource recovery facilities, medical waste services, portable restroom services, and municipal and commercial sweeping operations.
 BROWNING-FERRIS INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (In thousands, unaudited)
 The following are the consolidated operating results of Browning- Ferris Industries, Inc. and subsidiaries for the three months and twelve months ended September 30, 1992, compared with the same periods of fiscal year 1991.
 Periods ended Sept. 30 Three Months Year
 1992 1991 1992 1991
 Revenues $867,746 $811,936 $3,287,462 $3,183,253
 Cost of operations 620,419 577,469 2,353,476 2,195,713
 Gross profit 247,327 234,467 933,986 987,540
 Selling, general & admin.
 expense 152,548 145,821 583,890 554,805
 Special charge -- 246,500 -- 246,500
 Income (loss)
 from operations 94,779 (157,854) 350,096 186,235
 Interest, net 12,531 15,612 62,216 69,388
 Income (loss) before
 income taxes 82,248 (173,466) 287,880 116,847
 Income taxes 32,077 (61,552) 112,273 51,670
 Net income (loss) $50,171 ($111,914) $175,607 $65,177
 Number of common and
 common equivalent
 shares used in comput-
 ing earnings per share 169,320 153,740 158,662 153,892
 Earnings per common
 and common equivalent
 share $0.30 ($0.73) $1.11 $0.42
 BROWNING-FERRIS INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Operations
 (In thousands, unaudited)
 The following are the consolidated operating results of
 Browning-Ferris Industries, Inc. and subsidiaries for the three
 months and twelve months ended September 30, 1992, compared with the
 same periods of fiscal year 1991.
 Periods ended Sept. 30 Three Months Year
 1992 1991 1992 1991
 Revenues $867,746 $811,936 $3,287,462 $3,183,253
 Cost of operations 620,419 577,469 2,353,476 2,195,713
 Gross profit 247,327 234,467 933,986 987,540
 Selling, general & admin-
 istrative expense 152,548 145,821 583,890 554,805
 Special charge -- 246,500 -- 246,500
 Income (loss)
 from operations 94,779 (157,854) 350,096 186,235
 Interest, net 12,531 15,612 62,216 69,388
 Income (loss) before
 income taxes 82,248 (173,466) 287,880 116,847
 Income taxes 32,077 (61,552) 112,273 51,670
 Net income (loss) $50,171 ($111,914) $175,607 $65,177
 Number of common and
 common equivalent
 shares used in comput-
 ing earnings per share 169,320 153,740 158,662 153,892
 Earnings per common
 and common equivalent
 share $0.30 ($0.73) $1.11 $0.42
 -0- 11/12/92
 /CONTACT: Sandra D. Glatzau of Browning-Ferris Industries, 713-870-7161/
 (BFI) CO: Browning-Ferris Industries, Inc. ST: Texas IN: SU: ERN


TM -- NY100 -- 0427 11/12/92 17:35 EST
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