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DWG CORPORATION ANNOUNCES RESULTS

 DWG CORPORATION ANNOUNCES RESULTS
 MIAMI, Dec. 16 /PRNewswire/ -- DWG Corporation (AMEX: DWG)


announced today results of operations for the quarter and six months ended Oct. 31, 1991.
 Revenues in the three months ended Oct. 31, 1991 were $303 million compared to $300 million in the same period of the prior year, and the company had a net loss of $4.7 million or $.18 per share (primary and fully diluted) compared to net earnings of $503,000 or $.02 per share (primary and fully diluted) in the same quarter of the prior fiscal year. Net earnings in the prior year's period included an extraordinary credit of $834,000, consisting of tax benefit from utilization of operating losses carried forward.
 Revenues in the six months ended Oct. 31, 1991 were $606 million compared to $598 million in the same period of the prior year, and the company reported a net loss of $7.8 million or $.30 per share (primary and fully diluted) compared to a net loss of $1.8 million or $.07 per share (primary and fully diluted) in the same period of the prior year. The net loss in the prior year's period included the extraordinary credit of $834,000 referred to above.
 DWG CORPORATION AND SUBSIDIARIES
 (Unaudited)
 Three Months Ended Six Months Ended
 Oct. 31, Oct. 31,
 1991 1990 1991 1990
 (In thousands except per share amounts)
 Revenues $303,075 300,471 605,845 597,650
 Costs and expenses 285,448 283,956 570,701 565,384
 Operating profit 17,627 16,515 35,144 32,266
 Other expense, net 20,429 14,719 40,230 30,649
 Earnings (loss) before
 income taxes and
 extraordinary item (2,802) 1,796 (5,086) 1,617
 Provision for
 income taxes 1,327 1,410 958 2,238
 (4,129) 386 (6,044) (621)
 Minority interests
 in net earnings (524) (717) (1,731) (2,021)
 Loss before
 extraordinary item (4,653) (331) (7,775) (2,642)
 Extraordinary items -- utilization of
 operating losses carried forward,
 net of minority interests -- 834 -- 834
 Net earnings (loss) $ (4,653) 503 (7,775) (1,808)
 Earnings (loss) per share:
 Primary and fully diluted:
 Before extraordinary item $ (.18) (.01) (.30) (.10)
 Extraordinary item -- .03 -- .03
 $ (.18) .02 (.30) (.07)
 Average primary shares
 outstanding 25,857 25,864 25,857 25,852
 -0- 12/16/91
 /CONTACT: Charles Nolan, vice president of DWG Corporation, 305-866-7771/
 (DWG) CO: DWG Corporation ST: Florida IN: SU: ERN


JJ-AW -- FL012 -- 2742 12/16/91 18:14 EST
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Publication:PR Newswire
Date:Dec 16, 1991
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