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LAIDLAW INC. FIRST QUARTER NET UP 20 PERCENT

 BURLINGTON, Ontario, Jan. 12 /PRNewswire/ -- Laidlaw Inc. (NYSE: LDW) reported net income for the three months ended Nov. 3O, 1992 has increased 20 percent to $48,892,000 from the $40,577,000 reported for the same period last year. On a per share basis, net income increased 12.5 percent to $O.18 compared with $0.16 last year. An average of nine percent more shares was outstanding. Revenue decreased two percent to $512,910,000 from the $521,344,000 reported for the quarter ended Nov. 30, 1991, primarily as a result of the decline in the value of the Canadian dollar in relation to the U.S. currency.
 Despite the revenue decline and primarily as a result of cost control programs, income from operations(A) was virtually unchanged at $72 million. A reduction in interest expense and an increase in interest, dividend and other income, together with an increase in income from equity in earnings of ADT Limited and Attwoods plc all contributed to the increase in net income.
 The board of directors has declared a quarterly dividend of $0.04 (Canadian) per Class A and B Common Shares and the regular quarterly dividend of $0.25 (Canadian) per Class G First Preference Share. All dividends are payable Feb. 15, 1993 to shareholders registered at the close of business on Jan. 29, 1993. Dividends are converted to U.S. dollars for payment to U.S. shareholders.
 Commenting on the results Donald K. Jackson, Laidlaw's president and CEO, said he was satisfied with the performance in the absence of any perceived improvement in economic conditions, that cost containment programs were having their expected results and that progress during the balance of the year would come from continued tight management control and the provision of increased service offerings.
 Laidlaw Inc. is North America's largest school bus operator, second largest hazardous waste management service company and the third largest manager of household, commercial and industrial wastes.
 (A) before interest expense, interest dividend and other income, equity in earnings of associated companies and income taxes note: all figures are in $US except for dividends which are denominated in $CDN.
 -0- 1/12/93
 /CONTACT: Paul Van Damme, vice president controller, 416-336-1800, or Tag Watson, vice president communications, 416-336-1800, both of Laidlaw Inc./
 (LDW)


CO: Laidlaw Inc. ST: Ontario IN: SU: ERN

LD -- NY131 -- 4263 01/12/93 18:57 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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