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CHEMICAL WASTE MANAGEMENT REPORTS RESULTS FOR 1991

 CHEMICAL WASTE MANAGEMENT REPORTS RESULTS FOR 1991
 OAK BROOK, ILL., Feb. 5 /PRNewswire/ -- Chemical Waste Management,


Inc. (NYSE: CHW) today reported results for the year and fourth quarter ended Dec. 31, 1991.
 Net income for the year totaled $100,806,000, down from $175,591,000 in 1990. Revenue of $1,358,344,000 was up substantially from the $1,146,972,000 reported in 1990, because of the consolidation of The Brand Companies, Inc. following Chemical Waste Management's exercise during October 1990 of an option to acquire majority ownership of Brand. Earnings per share of $.49 lagged the $.85 reported for the year-earlier period.
 For the three months ended Dec. 31, 1991, Chemical Waste Management earned $12,225,000, compared with $47,804,000 in the fourth quarter of 1990. Revenue, which totaled $370,519,000, lagged the $387,986,000 of the fourth quarter of 1990. Earnings per share were $.06, compared with $.23 in the last three months of 1990.
 As reported last week, Chem Waste's results for the fourth quarter and 1991 include a special charge of $23 million on an after-tax basis, primarily to reflect current estimates of certain environmental remediation liabilities at closed sites. The charge reduced earnings in the fourth quarter by approximately 11 cents per share. The charge includes two cents per share to reflect previously announced settlements relating to the company's facilities in Illinois, as well as additional reserves for pending enforcement actions.
 "During 1991, recessionary economic conditions continued, as did certain restrictions regarding interstate waste transfer and interruptions to our business at the Chicago incinerator," said D.P. Payne, president and chief executive officer of the company. "These factors affected the performance of both our base business and our special projects operations," he stated.
 Shortly after the end of 1991, the U.S. Supreme Court ruled that it would hear the company's appeal of the Alabama Supreme Court's decision concerning that State's taxes on out-of-state waste. The office of the Solicitor General of the United States had previously filed a brief with the U.S. Supreme Court which supported the company's appeal efforts.
 "Chem Waste believes that the Alabama tax disparity between in state and out-of-state waste received at our Emelle, Ala. facility violates the Commerce Clause of the U.S. Constitution," Payne said, "and we are pleased that the U.S. Supreme Court has agreed to hear our appeal as we continue our attempt to remove the artificial barriers imposed by Alabama's legislation.
 "We believe that Chem Waste's long-term outlook is positive and that we will benefit from an anticipated increase in demand that should occur as the economic recession eases," Payne stated.
 Chemical Waste Management, Inc. is the largest comprehensive hazardous waste management company in the United States. It provides waste reduction services; recycling and resource recovery; collection, treatment and disposal of hazardous waste; services for the management of radioactive and mixed wastes; and the remediation of environmentally impaired sites.
 CHEMICAL WASTE MANAGEMENT, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 Three months ended Dec. 31: 1991 1990
 Revenue $370,519,000 $387,986,000
 Operating expenses $263,131,000 $260,468,000
 Special charge 36,000,000 0
 Selling & administrative expenses 51,537,000 47,382,000
 Interest expense 6,637,000 0
 Minority interest and sundry
 expense (income), net (2,553,000) 1,337,000
 Gain on issuance of stock by
 subsidiary (24,000) 0
 Income before income taxes $ 15,791,000 $ 78,799,000
 Provision for income taxes 3,566,000 30,995,000
 Net income $ 12,225,000 $ 47,804,000
 Average shares and equivalent
 shares outstanding 205,311,000 207,698,000
 Earnings per common and common
 equivalent share $0.06 $0.23
 Twelve months ended Dec. 31: 1991 1990
 Revenue $1,358,344,000 $1,146,972,000
 Operating expenses 951,414,000 716,428,000
 Special charge 36,000,000 0
 Selling & administrative expenses 196,887,000 152,221,000
 Interest expense 15,800,000 0
 Minority interest and sundry
 expense (income), net 5,357,000 (9,251,000)
 Gain on issuance of stock by
 subsidiary (10,707,000) 0
 Income before income taxes $163,593,000 $287,574,000
 Provision for income taxes 62,787,000 111,983,000
 Net income $100,806,000 $175,591,000
 Average shares and equivalent
 shares outstanding 206,917,000 207,238,000
 Earnings per common and common
 equivalent share $0.49 $0.85
 -0- 2/5/92
 /CONTACT: Joseph Pokorny, 708-218-1689, or (investors) Bruce Tobecksen, 708-218-1602, both of Chemical Waste Management/
 (CHW) CO: Chemical Waste Management Inc. ST: Illinois IN: CHM SU: ERN


TS -- NY006 -- 7007 02/05/92 08:24 EST
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Date:Feb 5, 1992
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