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DUFF & PHELPS REPORTS HIGHER SECOND-QUARTER EARNINGS

 DUFF & PHELPS REPORTS HIGHER SECOND-QUARTER EARNINGS
 CHICAGO, July 27 /PRNewswire/ -- Duff & Phelps Corporation (NYSE: DUF) today announced that earnings (before extraordinary item) for its second quarter ended June 30 were $4.5 million, or 36 cents a share, compared with $1.1 million, or 13 cents per share, in the second quarter of 1991. Revenues for the 1992 second quarter were $20.3 million, an increase of 22 percent from the second quarter of last year.
 Francis E. Jeffries, president and chief executive officer, said "We are extremely pleased to announce that revenues and earnings were at record levels for any second quarter in the history of the company. All business segments registered increased revenues compared with the second quarter of 1991. New clients, new debt offerings and better stock and bond markets contributed to the excellent results."
 Earnings (before extraordinary item) for the six-month period ended June 30 were $7 million, or 65 cents per share, compared with $1.4 million, or 16 cents per share, in the first half of 1991. Revenues to June 30 totaled $40.6 million, up from $31.5 million in 1991.
 The company completed an initial public offering of 3.5 million shares of its common stock at $18 per share in March. The proceeds were used to retire all of the company's outstanding senior subordinated debt. The company also entered into a new bank agreement, thereby terminating an existing higher cost loan. An extraordinary loss of $5.4 million was recorded in the first quarter of 1992 due to the early redemption of the senior subordinated debt, and an additional extraordinary loss of $500,000 was booked in the second quarter relating to the refinancing of the bank facility. An extraordinary gain of $1.2 million was realized in the 1991 second quarter from the retirement of debt at a discount.
 Duff & Phelps provides investment management, credit rating, investment research and financial consulting services to institutions, corporations and individuals.
 DUFF & PHELPS CORP.
 Quarter Ended June 30
 1992 1991
 Revenues $20,322,000 $16,721,000
 Income before
 extraordinary item 4,514,000 1,081,000
 Extraordinary item (484,000) 1,173,000
 Net income 4,030,000 2,254,000
 Earnings per share:
 Income before
 extraordinary item .36 .13
 Net income .32 .27
 Average shares 12,408,899 8,362,633
 Six months ended June 30
 1992 1991
 Revenue 40,607,000 31,541,000
 Income before
 extraordinary item 7,029,000 1,360,000
 Extraord. item (A) (5,932,000) 1,173,000
 Net income 1,097,000 2,533,000
 Earnings per share:
 Income before
 extraordinary item .65 .16
 Net income .10 .30
 Average shares 10,861,217 8,362,633
 (A) Early extinguishment of debt.
 Figures in parentheses are losses.
 -0- 7/27/92
 /CONTACT: Francis E. Jeffries, president and CEO, 312-630-4501, or Jacqueline Bitowt, 312-630-4624, both of Duff & Phelps/
 (DUF) CO: Duff & Phelps Corporation ST: Illinois IN: FIN SU: ERN


SH -- NY059 -- 3468 07/27/92 11:22 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
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