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WATERHOUSE SECURITIES REPORTS FINANCIAL RESULTS

 NEW YORK, June 22 /PRNewswire/ -- Waterhouse Investor Services, Inc. (NYSE: WHO) today reported net income for the three month period ended May 31, 1993 (Third Quarter - FY 1993) of $3,928,000 versus $2,149,000 for the same period the previous year.
 Revenues for the third quarter of 1993 increased 59 percent while net earnings increased 83 percent. Earnings per share also increased 83 percent to $.64 from $.35.
 WATERHOUSE SECURITIES, INC.
 REVENUES & EARNINGS
 Quarter ended May FY 1993 FY 1992
 Revenues $22,612,000 $14,243,000
 Net income 3,928,000 2,149,000
 Share earnings .64 .35
 Avg. shares outstanding 6,109,397 6,103,255
 Nine months
 ended May FY 1993 FY 1992
 Revenues 60,010,000 41,788,000
 Net income 10,401,000 6,655,000
 Share earnings 1.70 1.10
 Avg. shares outstanding 6,109,018 6,029,950
 For the nine month period revenues increased 44 percent and earnings per share increased 55 percent. Revenues and earnings represent a record for the nine month period.
 All earnings per share figures have been adjusted to reflect the company's 5 for 4 stock split which was paid in the form of a 25 percent dividend on March 3, 1993.
 The company's principal subsidiary Waterhouse Securities, Inc. provides discount brokerage to the individual investor through branch offices in major cities throughout the United States.
 -0-
 /CONTACT: Lawrence M. Waterhouse, Jr., chairman of the board of Waterhouse Investor Services, Inc., 212-806-3500/
 (WHO)


CO: Waterhouse Investor Services, Inc. ST: New York IN: FIN SU: ERN

MP-LG -- NY026 -- 4489 06/22/93 10:35 EDT
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Publication:PR Newswire
Date:Jun 22, 1993
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