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BROWNING-FERRIS ANNOUNCES SECOND QUARTER AND MID-YEAR RESULTS

 BROWNING-FERRIS ANNOUNCES SECOND QUARTER AND MID-YEAR RESULTS
 HOUSTON, April 21 /PRNewswire/ -- Browning-Ferris Industries, Inc. (NYSE: BFI) today reported net income for the second quarter of fiscal 1992, ended March 31, 1992, of $38,671,000, or 25 cents per share, on revenues of $782 million. These results compare with net income for the same period last year of $57,328,000 or 37 cents per share, on revenues of $764 million.
 Net income for the first six months of fiscal 1992 was $78,969,000, or 51 cents per share, on revenues of $1,583 million. For the corresponding six-month period of the prior fiscal year, net income was $118,164,000, or 77 cents per share, on revenues of $1,566 million.
 William D. Ruckelshaus, chairman and chief executive officer, said, "Despite weaker year-to-year results because of the recession, competitive pressures and higher disposal costs, BFI continues to make progress on programs that will allow it to show improved results in the future."
 The number of common and common equivalent shares used to compute net income per share for the six months was 154,166,000 versus 153,989,000 for the first six months of fiscal 1991.
 Browning-Ferris Industries, Inc. is one of the largest publicly-held companies engaged in providing waste services. Subsidiaries and affiliates collect, transport, treat and dispose of commercial, residential and municipal solid waste and industrial wastes. BFI subsidiaries are also involved in recycling, resource recovery facilities, medical waste services, portable restroom services, and municipal and commercial sweeping operations.
 BROWNING-FERRIS INDUSTRIES, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 (Expressed in thousands -- unaudited)
 Periods ended Three months Six months
 March 31, 1992 1991 1992 1991
 Revenues $781,980 $764,284 $1,583,308 $1,566,083
 Cost of operations 557,566 515,179 1,133,326 1,061,561
 Gross profit 224,414 249,105 449,982 504,522
 S,G&A expense 143,962 137,089 287,354 274,396
 Inc. from operations 80,452 112,016 162,628 230,126
 Interest, net 17,056 18,036 33,170 36,415
 Inc. bef. inc. taxes 63,396 93,980 129,458 193,711
 Income taxes 24,725 36,652 50,489 75,547
 Net income $38,671 $57,328 $78,969 $118,164
 No. of common & common
 equiv. shares used in
 computing earns.
 per share 154,638 154,021 154,166 153,989
 Earns. per common &
 common equiv. share $0.25 $0.37 $0.51 $0.77
 -0- 4/21/92
 /CONTACT: Sandra D. Glatzau or Fletcher Thorne-Thomsen Jr. both of BFI, 713-870-8100/
 (BFI) CO: Browning-Ferris Industries Inc. ST: Texas IN: SU: ERN


SH -- NY016 -- 0421 04/21/92 09:18 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
Words:447
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