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DAVIS WATER & WASTE REPORTS THIRD QUARTER/NINE-MONTH RESULTS

 THOMASVILLE, Ga., March 25 /PRNewswire/ -- Davis Water & Waste Industries, Inc. (NYSE: DWW), today reported results for the third quarter and nine months ended Jan. 31, 1993.
 For the quarter, the company reported net income of $52,478 or 2 cents per share on net sales of $42,461,662 compared to a net loss of $663,538 or 20 cents per share on net sales of $44,080,041 for the same period last year. Nine-month net income was $507,563 or 16 cents per share, compared to a net loss of $922,266 or 28 cents per share for the comparable period of the prior year. For the nine months, sales were $138,128,496 vs. $139,766,172 for the same period of the prior fiscal year.
 Results for the current year's nine months include a one-time positive adjustment of $495,000 before taxes recorded in connection with a $1.1 million settlement of a claim against the former shareholders of the Taulman Company, a wholly owned subsidiary, effective Aug. 31, 1990. The $605,000 balance of the settlement was applied to reserves for long- term contracts.
 Results for the current year's nine months also include a one-time positive adjustment of $459,000 or 14 cents per share from the adoption of SFAS No. 109 - Accounting for Income Taxes.
 "The slight decrease in sales for the quarter is attributed to a decrease in sales in the company's water treatment group. Sales of the distribution group for the third quarter were up approximately 10 percent over the same period last year," R. Doyle White, president, said. "Although competition for the available business continues to be intense, we are cautiously optimistic that we will end fiscal 1993 with a modest profit," he concluded.
 Davis Water & Waste Industries designs, engineers, manufactures, sells and installs water and wastewater treatment and pumping equipment and sells certain process materials used to treat water and wastewater to comply with applicable health and water quality standards. The company also markets products relating to the distribution of water and the treatment of water and wastewater.
 DAVIS WATER & WASTE INDUSTRIES, INC.
 Financial Highlights (Unaudited)
 Periods ended Three Months Nine Months
 Jan. 31 1993 1992 1993 1992
 Net sales $42,461,662 $44,080,041 $138,128,496 $139,766,172
 Net inc. (loss)
 bef. cumulative
 effect of chng.
 in method of
 accounting for
 income taxes 52,478 (663,538) 48,563 (922,266)
 Net inc. (loss) 52,478 (663,538) 507,563(A) (922,266)
 Earns. (loss) per
 share bef. cum.
 effect of chng.
 in method of
 accounting for
 income taxes $.02 $(.20) $.02 $(.28)
 Earnings (loss)
 per share $.02 $(.20) $.16(A) $(.28)
 Average number of
 shares outstg. 3,269,959 3,265,211 3,268,268 3,267,015
 (A) -- Includes one-time positive adjustment of $459,000 or 14 cents per share for the adoption of SFAS No. 109 - Accounting for Income Taxes.
 -0- 3/25/93
 /CONTACT: Stan White of Davis Water & Waste, 912-226-5733/
 (DWW)


CO: Davis Water & Waste Industries, Inc. ST: Georgia IN: ENV SU: ERN

SM-GK -- NY016 -- 9437 03/25/93 09:31 EST
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Date:Mar 25, 1993
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