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CHEMICAL WASTE MANAGEMENT REPORTS RESULTS FOR FOURTH QUARTER AND FULL YEAR 1992

 OAK BROOK, Ill., Feb. 3 /PRNewswire/ -- Chemical Waste Management, Inc. (NYSE: CHW) today reported results for the fourth quarter and year ended Dec. 31, 1992.
 Net income for the year increased 25.7 percent to $126,735,000, compared with $100,806,000 in 1991. Revenue of $1,518,603,000 was up 11.8 percent from $1,358,344,000 in the prior year. Earnings per share of $0.62 represented a 26.5 percent increase over the $0.49 reported in 1991.
 For the three months ended Dec. 31, 1992, Chemical Waste Management earned $8,732,000, down 28.6 percent compared with $12,225,000 in the year-earlier quarter. Revenue declined 4.5 percent to $354,008,000 from $370,519,000 in the fourth quarter of 1991 as a result of a fall off in special projects. Earnings per share were $0.04 compared to $0.06 in the final quarter of 1991. CWM's fourth quarter 1992 results reflect a special charge of $15 million, or $0.07 cents per share, on an after-tax basis as a result of the restructuring of its business in connection with the formation of Rust International Inc., a new environmental services and infrastructure company which is majority owned by Chemical Waste Management. Additionally, the company said fourth quarter 1992 results were impacted by $0.05 per share on an after tax basis reflecting a special charge by its indirect majority-owned subsidiary, The Brand Companies, Inc., relating to a write-down of Brand's investment in its asbestos abatement business and certain restructuring costs related to the formation of Rust. In the fourth quarter of 1991, CWM had recorded a special charge of $23 million, or $0.11 per share, on an after tax basis primarily to reflect certain environmental remediation costs at closed sites, which the company or its subsidiaries had used but not owned or operated.
 Earnings for the year ended Dec. 31, 1992 were increased by $0.07 per share on an after tax basis as a result of a gain from the April 1992 initial public offering of shares by Waste Management International plc and a special charge relating to two CWM incinerator facilities, and decreased by $0.01 per share for a one-time cumulative after-tax charge related to the early adoption of two
new accounting standards. In 1991, earnings were increased by $0.05 per share as a result of gains on the issuance of stock by a subsidiary. Excluding all gains and charges in both years, earnings per share were $0.68 in 1992 compared to $0.55 in 1991.
 "The past year was a very challenging one in which we were successful in achieving lower disposal taxes in three important states, while placing an unprecedented focus on our customers and the environment," said D.P. (Pat) Payne, president and chief executive officer. "While our overall results for the year increased, our performance continued to be impacted by the general economic weakness," he added.
 Chemical Waste Management is a leading provider of integrated hazardous waste management services in North America, furnishing waste reduction services, recycling and resource recovery; collection, treatment and disposal of hazardous wastes; and services for managing radioactive wastes.
 CHEMICAL WASTE MANAGEMENT,INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 Periods ended Three months
 Dec. 31, 1992 1991
 Revenue $354,008,000 $370,519,000
 Costs and Expenses
 Operating $240,231,000 $263,131,000
 Special Charge 56,450,000 36,000,000
 Selling & Administrative 49,627,000 51,537,000
 Gain on Issuance of Stock by
 Subsidiary -- (24,000)
 Interest Expense 8,395,000 6,637,000
 Minority interest and sundry
 expense (income), net (13,439,000) (2,553,000)
 Inc. Before Inc. Taxes $ 12,744,000 $ 15,791,000
 Provision for Inc. Taxes 4,012,000 3,566,000
 Net Income $ 8,732,000 $ 12,225,000
 Avg. Shares & Equivalent
 Shares Outstanding 204,425,000 205,311,000
 Earnings Per Common and
 Common Equivalent Share $0.04 $0.06
 CHEMICAL WASTE MANAGEMENT,INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 Periods ended Twelve months
 Dec. 31, 1992 1991
 Revenue $1,518,603,000 $1,358,344,000
 Costs and Expenses
 Operating $1,060,599,000 $ 951,414,000
 Special Charge 111,200,000 36,000,000
 S&A 206,748,000 196,887,000
 Gain on Issuance of Stock by
 Subsidiary (47,000,000) (10,707,000)
 Interest Expense 31,546,000 15,800,000
 Minority interest and sundry
 expense (inc.), net (22,654,000) 5,357,000
 Income Before Income Taxes and
 Cumulative Effect of Change in
 Accounting Principle $178,164,000 $ 163,593,000
 Provision for Inc. Taxes 48,429,000 62,787,000
 Inc. Bef. Cumulative Effect
 of Change in
 Accounting Principle $129,735,000 $ 100,806,000
 Cumulative Effect of Change in
 Accounting for Postretirement Benefits
 Other than Pensions,
 net of tax 3,000,000 --
 Net Income $126,735,000 $ 100,806,000
 Average Shares and Equivalent
 Shares Outstanding 204,967,000 206,917,000
 Earnings (Loss) Per Common and
 Common Equivalent Share
 Income Before Cumulative Effect
 of Change in Accounting
 Principle $0.63 $0.49
 Cumulative Effect of Change in
 Accounting for Postretirement
 Benefits Other
 than Pensions $(0.01) --
 Net Income $0.62 $0.49
 -0- 2/3/93
 /CONTACT: Bruce Tobecksen (investors), 708-218-1602, or Bob Reincke (media), 708-218-1670, both of Chemical Waste Management/
 (CHW)


CO: Chemical Waste Management, Inc. ST: Illinois IN: CHM SU: ERN

SH -- NY006 -- 2257 02/03/93 09:27 EST
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Date:Feb 3, 1993
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