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INSPIRATION RESOURCES EARNINGS

     /FIRST AND FINAL ADD -- NY015 -- INSPIRATION RESOURCES EARNINGS/
                         INSPIRATION RESOURCES
                  Summarized Results of Operations
                (In thousands, except per-share data)
    Periods ended          Three months              Year
     Dec. 31            1991       1990(A)      1991        1990(A)
                           (unaudited)
    Revenues          $114,646    $121,192    1,061,726    $994,191
    Operating income
     (loss)              1,350      (9,223)      42,601      30,957
    Equity in (losses)
     income of and
     liquidating
     distribution from
     unconsolidated
     affiliates          1,000         (44)       2,510      (22,393)(B)
    Corporate and
     unallocated
     expenses           (1,317)    (13,726)(C)   (7,685)     (21,432)(C)
    Interest expense    (3,075)     (5,049)     (16,214)     (19,567)
    Income tax (provision)
     benefit              (769)        359       (3,160)      (1,633)
    (Loss) income
     from continuing
     operations         (2,811)    (27,683)      18,052      (34,068)
    Discontinued
     operations(A)          --     (87,736)    (174,827)     (74,433)
    Loss before
     extraord. gain     (2,811)   (115,419)    (156,775)    (108,501)
    Extraordinary gain
     on early retirement
     of debentures          --          --        5,115           --
    Net loss           ($2,811)  ($115,419)   ($151,660)   ($108,501)
    Weighted average
     shares outstanding
     for the period     69,085      66,285       67,221       66,285
    Earnings (loss)
     per share:
     Continuing oper.   ($0.04)     ($0.42)       $0.27       ($0.52)
     Discontinued oper.     --       (1.32)       (2.60)       (1.12)
     Extraordinary gain     --          --         0.07           --
    Net loss per share  ($0.04)     ($1.74)      ($2.26)      ($1.64)
    (A) -- Results for 1990 have been restated for discontinued operations.  Loss on discontinued operations includes a $170 million charge for the sale of the base metals business in 1991 and a $78 million charge for the disposition of the coal segment in 1990.
    (B) -- Results for the 1990 periods include a charge of $16.5 million to reduce the investment in a gold mining affiliate to zero.
    (C) -- Results for the quarter and year ended Dec. 31, 1990, include a $12 million charge for streamlining the corporate office.
    -0-               2/13/92 AA NY015
    /END FIRST AND FINAL ADD/
    (IRC) CO:  Inspiration Resources Corporation ST:  Iowa IN: SU:  ERN CK-SM -- NY015A -- 9631 02/13/92 10:10 EST
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Publication:PR Newswire
Date:Feb 13, 1992
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