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DWG CORPORATION ANNOUNCES RESULTS

 DWG CORPORATION ANNOUNCES RESULTS
 MIAMI, July 29 /PRNewswire/ -- DWG Corporation (AMEX: DWG) announced


today results of operations for the quarter and year ended April 30, 1992.
 Revenues in the three months ended April 30, 1992 increased to $330 million from $298 million and operating profit amounted to $32.2 million compared to an operating loss of $2.4 million in the prior year's comparable quarter. Non-operating expenses (net) were $25.6 million compared to $23.5 million in the comparable period of the prior year. The company reported net earnings of $1.6 million or $.06 per share (primary and fully diluted) compared to a net loss of $9.1 million or $.35 per share (primary and fully diluted) in the same quarter of the prior year.
 Revenues in the year ended April 30, 1992 were $1.27 billion compared to $1.21 billion in the prior fiscal year. While operating profit increased to $94.3 million from $48.1 million, non-operating expenses (net) also increased to $94.4 million from $81.9 million, and the company had a net loss of $7.5 million or $.29 per share (primary and fully diluted) compared to a net loss of $16.9 million or $.65 per share (primary and fully diluted) in the prior year.
 DWG CORPORATION AND SUBSIDIARIES
 Three Months Ended Year ended
 April 30, April 30,
 1992 1991 1992 1991
 (In thousands except per share amounts)
 Revenues $ 330,296 297,616 1,275,056 1,215,323
 Costs and
 expenses 298,071 300,058 1,180,738 1,167,245
 Operating profit
 (loss) 32,225 (2,442) 94,318 48,078
 Other expense, net 25,563 23,482 94,391 81,893
 Earnings (loss)
 before income taxes
 and extraordinary
 item 6,662 (25,924) (73) (33,815)
 Provision for (benefit
 from) income taxes 4,888 (15,085) 5,456 (15,604)
 Total 1,774 (10,839) (5,529) (18,211)
 Minority interests in
 net (earnings)
 losses (126) 991 (1,973) 655
 Earnings (loss) before
 extraordinary item 1,648 (9,848) (7,502) (17,556)
 Extraordinary item --
 utilization of operating
 losses carried forward,
 net of minority
 interests -- 703 -- 703
 Net earnings (loss) $ 1,648 (9,145) (7,502) (16,853)
 Earnings (loss) per
 share:
 Primary and fully
 diluted:
 Before extraordinary
 item $ .06 (.38) (.29) (.68)
 Extraordinary item -- .03 -- (.03)
 Total $ .06 (.35) (.29) (.65)
 Average common shares
 outstanding 25,877 25,855 25,867 25,853
 -0- 7/29/92 R
 /CONTACT: Charles Nolan, vice president of DWG Corporation, 305-866-7771/
 (DWG) CO: DWG Corporation ST: Florida IN: SU: ERN


JJ-JB -- FL015R -- 4915 07/30/92 08:39 EDT
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Date:Jul 30, 1992
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