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WAHLCO ENVIRONMENTAL REPORTS PROFITABLE FIRST QUARTER

 SANTA ANA, Calif., April 20 /PRNewswire/ -- Wahlco Environmental Systems Inc. (NYSE: WAL) today reported results for the first quarter ended March 31, 1993.
 Revenue for the quarter was $21.0 million vs. $21.5 million in the first quarter of 1992. The company reported net income of $0.2 million, or 1 cent per share versus a net loss of $1.1 million, or 6 cents per share for the first quarter of 1992.
 "We are pleased with the positive impact on earnings from the cost reduction programs which were implemented during the last half of 1992," stated Henry N. Huta, president and chief executive officer. "With the compliance deadline for Phase I of the 1990 Clean Air Act fixed at Jan. 1, 1995, we are hopeful that we will see improvements in our flue gas conditioning bookings in the second half of 1993."
 Wahlco Environmental Systems Inc. designs and manufactures air pollution control and power efficiency equipment and provides related services to electric utilities, cogeneration plants, petrochemical refineries and industrial manufacturers worldwide. More than 50 percent of the company's manufacturing capacity and sales are outside the United States. The company serves customers in more than 62 countries.
 WAHLCO ENVIRONMENTAL SYSTEMS
 (Unaudited, in thousands, except per share amounts)
 Three months ended
 March 31,
 1993 1992
 Revenues $21,050 $21,455
 Gross profit 5,859 5,800
 Selling expense 1,690 1,413
 General, administrative
 and other expenses 3,907 6,001
 Income (loss) before income taxes 262 (1,614)
 Net income (loss) 202 (1,130)
 Average common shares outstanding 17,649 17,649
 Earnings (loss) per common share $ 0.01 ($ 0.06)
 -0- 4/20/93
 /CONTACT: Anne Anderson of Wahlco, 714-979-7300; or Doug Sherk or Ken Dennard, both of Morgen-Walke, 415-296-7383, for Wahlco/
 (WAL)


CO: Wahlco Environmental Systems Inc. ST: California IN: ENV SU: ERN

LH-SG -- SF004 -- 7707 04/20/93 06:30 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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