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DWG CORPORATION ANNOUNCES RESULTS

 MIAMI, March 17 /PRNewswire/ -- DWG Corporation (AMEX: DWG) announced today results of operations for the quarter and nine months ended Jan. 31, 1993.
 Revenues in the three months ended Jan. 31, 1993 were $332 million compared to $339 million in the same quarter of the prior year. Operating profit increased to $28.1 million from $18.6 million. Earnings before income taxes and minority interests were $8.9 million compared to a loss of $1.6 million in the prior year's comparable period. Net loss decreased to $0.9 million or $.04 per share (primary and fully diluted) in the quarter ended Jan. 31, 1993 compared to $1.4 million or $.05 per share (primary and fully diluted) in the same quarter of the prior year.
 Revenues in the nine months ended Jan. 31, 1993 increased to $958 million from $945 million in the comparable period of the prior year. Operating profit increased to $66.6 million from $47.7 million. Earnings before income taxes and minority interests were $14.7 million compared to a loss of $6.7 million in the prior year's comparable period. Net loss decreased to $3.3 million or $.13 per share (primary and fully diluted) in the current fiscal year-to-date compared to $9.1 million or $.35 per share (primary and fully diluted) in the same period of the prior year.
 DWG CORPORATION AND SUBSIDIARIES
 (Unaudited)
 Three Months Ended Nine Months Ended
 Jan. 31, Jan. 31,
 1993 1992 1993 1992
 (In thousands except per share amounts)
 Revenues $332,483 338,915 958,482 944,760
 Costs and expenses 304,416 320,292 891,883 897,037
 Operating profit 28,067 18,623 66,599 47,723
 Other expense, net 19,170 20,272 51,903 54,458
 Earnings (loss) before
 income taxes 8,897 (1,649) 14,696 (6,735)
 Provision for (benefit
 from) income taxes (A) 9,168 (390) 15,411 568
 (271) (1,259) (715) (7,303)
 Minority interests in net
 earnings (671) (116) (2,609) (1,847)
 Net loss $ (942) (1,375) (3,324) (9,150)
 Loss per share:
 Primary and fully diluted $(.04) (.05) (.13) (.35)
 Average common shares
 outstanding 25,904 25,862 25,900 25,861
 (A) -- Income tax provision exceeded the statutory rate and pre-tax earnings in both the quarter and year-to-date ending Jan. 31, 1993 due to provisions for estimated charges aggregating $4.2 million and $6.2 million, respectively, resulting from ongoing Internal Revenue Service examinations and state income taxes and taxes on equity in net earnings of subsidiaries.
 -0- 3/17/93
 /CONTACT: Jack Coppersmith, executive vice president and chief financial officer of DWG Corporation, 305-866-7771/
 (DWG)


CO: DWG Corporation ST: Florida IN: SU: ERN

JB-JJ -- FL010 -- 7199 03/17/93 17:33 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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