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ALLIED WASTE INDUSTRIES ANNOUNCES RESULTS OF OPERATIONS

 ALLIED WASTE INDUSTRIES ANNOUNCES RESULTS OF OPERATIONS
 HOUSTON, Nov. 11 /PRNewswire/ -- Allied Waste Industries, Inc. (NASDAQ: AWIN) today announced results for its third quarter ended Sept. 30, 1992. Revenues, operating income and net income to common shareholders each more than doubled over the comparable 1991 quarter, reflecting the company's active acquisition program and the integration of acquired companies.
 Revenues for the third quarter 1992 were $9.9 million compared with $4.7 million for third quarter 1991, while operating income increased to $1.4 million for the 1992 quarter vs. $373,000 for the 1991 third quarter. Net income after preferred dividends was $206,000 for the quarter vs. $83,000 for the comparable 1991 quarter. Earnings per common share were $.02 for each of the 1992 and 1991 quarters. For the nine months ended Sept. 30, 1992, the company reported $25.5 million in revenues compared to $12.4 million for the nine months ended Sept. 30, 1991. Net income after preferred dividends was $443,000 vs. $44,000 for the 1991 nine month period. Earnings per common share were $.05 for the 1992 nine months vs. $.01 for the comparable 1991 period. Results have been adjusted to reflect various acquisitions accounted for as poolings- of-interest in June and August 1992.
 Roger Ramsey, Allied's chairman, stated, "The acquisition of three landfills in the Chicago area during July gave us the opportunity, for the first time, to divert a substantial amount of disposal volume and cost from third parties to our own landfill sites. The quarter and year-to-date results begin to illustrate the potential operating leverage available from internalizing our waste flow."
 David M.K. Ruth, the company's vice president-finance, stated, "Allied's reported earnings per common share of $.02 in the third quarters of both 1992 and 1991, are not comparable from an operating standpoint due to a substantially increased tax provision in the 1992 quarter. In 1991, Allied utilized its net operating loss carryforward (NOL) to substantially eliminate its 1991 federal income tax provision for reporting purposes. As a result of acquisitions successfully completed in July, the provisions of FASB 96 require that Allied's NOL be netted against the deferred income taxes created as a result of the acquisition. This has the effect of spreading the reported income tax benefit from the NOL over the useful lives of the new assets and eliminating its availability for use in lowering our current reported income tax rate. Federal and state income taxes have been reported for the September 1992 quarter at their full statutory rate even though we expect to be able to use the NOL to significantly reduce our actual 1992 income taxes paid."
 Allied Waste Industries, Inc., headquartered in Houston, Texas, is a solid waste management company providing non-hazardous waste collection, recycling and disposal services in the Midwest and Southwest.
 ALLIED WASTE INDUSTRIES, INC.
 (In Thousands)
 Quarter Ended 9 Months Ended
 September 30 September 30
 1992 1991 1992 1991
 Revenues $9,890 $4,722 $25,542 $12,427
 Gross Profit $3,696 $1,177 $ 8,447 $ 2,984
 Gross Margin 37.4% 24.9% 33.1% 24.0%
 Operating Income $1,388 $ 373 $ 2,632 $ 703
 Operating Margin 14.0% 7.9% 10.3% 5.7%
 Net Income $ 284 $ 160 $ 675 $ 204
 Less: Preferred
 Dividends $ (77) $ (76) $ (232) $ (160)
 Net Income Available
 to Common
 Stockholders $ 206 $ 83 $ 443 $ 44
 Earnings per common
 share $ .02 $ .02 $ .05 $ .01
 Weighted Average
 Common Shares (000) 9,934 3,414 8,876 3,064
 -0- 11/11/92
 /CONTACT: David M.K. Ruth of Allied Waste Industries, Inc., 713-664-1888/
 (AWIN) CO: Allied Waste Industries, Inc. ST: Texas IN: SU: ERN


PS -- NY026 -- 9685 11/11/92 11:05 EST
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Date:Nov 11, 1992
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