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BROWNING-FERRIS ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS

 BROWNING-FERRIS ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS
 HOUSTON, July 22 /PRNewswire/ -- Browning-Ferris Industries, Inc. (NYSE: BFI) today reported net income for the third quarter of fiscal 1992, ended June 30, 1992, of $46,467,000, or 30 cents per share, on revenues of $836 million. These results compare with net income for the same period last year of $58,927,000, or 38 cents per share, on revenues of $805 million.
 Net income for the nine months ended June 30, 1992 was $125,436,000, or 81 cents per share, on revenues of $2,420 million. For the corresponding nine-month period of the prior fiscal year, net income was $177,091,000, or $1.15 per share, on revenues of $2,371 million.
 William D. Ruckelshaus, chairman and chief executive officer, said, "While revenues increased modestly, net income declined compared with the third quarter last year. We attribute the latter to continuing economic factors and pricing pressures on our core commercial collection business, and to increases in disposal costs that we are not always able to pass through to customers.
 "During the quarter, we made progress on programs underway to build toward BFI's future. BFI was awarded 30 new municipal contracts. We obtained two new landfill permits and a key expansion permit, and we have increased BFI waste disposed of in BFI landfills. Our recycling revenues continue to grow, and the medical waste business, buoyed by regulatory changes, has enjoyed a 20 percent growth in revenues and operating profits. It is too early to determine if the economy has indeed started on a solid recovery, but we believe we understand the issues and opportunities, and are addressing them.
 The number of common and common equivalent shares used to compute net income per share for the nine months was 155,083,000 versus 153,942,000 for the first nine 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
 (Unaudited, expressed in thousands)
 Periods ended Three months Nine months
 June 30, 1992 1991 1992 1991
 Revenues $836,408 $805,234 $2,419,716 $2,371,317
 Cost of operations 599,731 556,683 1,733,057 1,618,244
 Gross profit 236,677 248,551 686,659 753,073
 SG&A expense 143,988 134,588 431,342 408,984
 Income from operations 92,689 113,963 255,317 344,089
 Interest, net 16,515 17,361 49,685 53,776
 Income before income taxes 76,174 96,602 205,632 290,313
 Income taxes 29,707 37,675 80,196 113,222
 Net income $46,467 $58,927 $125,436 $177,091
 Number of common and common
 equivalent shares used in
 computing earnings
 per share 156,927 153,847 155,083 153,942
 Earnings per common and
 common equivalent share $0.30 $0.38 $0.81 $1.15
 -0- 7/22/92
 /CONTACT: Sandra D. Glatzau of Browning-Ferris Industries, 713-870-8100/
 (BFI) CO: Browning-Ferris Industries Inc. ST: Texas IN: SU: ERN


TS -- NY013 -- 1699 07/22/92 08:56 EDT
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Date:Jul 22, 1992
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