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LAIDLAW MANAGES THROUGH DIFFICULT ECONOMY

 BURLINGTON, Ontario., April 7 /PRNewswire/ -- Laidlaw Inc. (NYSE: LDW.B) has reported net income for the three months ended Feb. 28, 1993 of $28,083,000 (U.S.), or $0.10 per share, compared with $28,159,000, or $0.11 per share for the same period last year. There were eight percent more shares outstanding in the period.
 Reflecting the continuing recessionary business environment, income from operations was $47,912,000 compared with $53,427,000 for the same three months last year while equity in earnings from ADT Ltd. and Attwoods plc were $11,002,000 compared with $8,862,000.
 Consolidated revenue increased to $469,032,000 from $462,459,000.
 For the six months ended February 28, 1993, net income was $76,975,000, or $0.28 per share, compared with $68,736,000, or $0.27 per share. There were nine percent more shares outstanding in the six month period.
 Income from operations was $119,930,000 compared with $125,463,000 while income from equity in ADT and Attwoods rose to $22,000,000 from the $17,251,000 reported last year.
 Revenue for the six months was $981,942,000 compared with $983,803,000 for the same period.
 The board of directors has declared a quarterly dividend of $0.04 (Canadian) per Class A and B Common Shares and the regular quarterly dividend of $0.25 (Canadian) per Class G First Preference Share. All dividends are payable May 15, 1993 to shareholders registered at the close of business on April 30, 1993. Dividends are converted to U.S. dollars for payment to U.S. shareholders.
 Commenting on the results, Donald K. Jackson, Laidlaw's president and CEO, said the company sees virtually no improvement in the Canadian economy, while the U.S. is showing early indications of improvement. He said cost containment programs were having their expected results and that progress during the balance of the year would continue to come from a combination of tight management control and the provision of increased service offerings to a broadening customer base.
 LAIDLAW INC.
 Consolidated Statements Of Income
 (U.S. $000's omitted except per share amounts, unaudited)
 Period Ended Three Months Six Months
 2/28/93 2/29/92 2/28/93 2/29/92
 REVENUE
 Solid waste services $176,447 $190,377 $372,019 $400,027
 Hazardous waste services 114,627 102,201 234,155 216,052
 Passenger services 177,958 169,881 375,768 367,724
 TOTAL REVENUE 469,032 462,459 981,942 983,803
 Operating expenses 322,116 312,943 661,668 658,699
 Selling, general and
 administrative expenses 36,132 36,443 73,659 78,173
 Depreciation and
 amortization 62,872 59,646 126,685 121,468
 INCOME FROM OPERATIONS 47,912 53,427 119,930 125,463
 Interest expense (25,841) (31,485) (51,738) (65,685)
 Interest, dividend and
 other income 2,031 3,123 6,027 5,786
 Equity in earnings of
 associated companies 11,002 8,862 22,000 17,251
 INCOME BEFORE INCOME TAXES 35,104 33,927 96,219 82,815
 INCOME TAXES (7,021) (5,768) (19,244) (14,079)
 NET INCOME $28,083 $28,159 $76,975 $68,736
 EARNINGS PER SHARE $0.10 $0.11 $0.28 $0.27
 ADDITIONAL INFORMATION
 INCOME FROM OPERATIONS
 Solid waste services $13,390 $18,109 $32,281 $39,576
 Hazardous waste services 11,041 12,016 30,344 27,304
 Passenger services 23,481 23,302 57,305 58,583
 Total $47,912 $53,427 $119,930 $125,463
 OPERATING MARGINS
 Solid waste services 7.6 pct 9.5 pct 8.7 pct 9.9 pct
 Hazardous waste services 9.6 pct 11.8 pct 13.0 pct 12.6 pct
 Passenger services 13.2 pct 13.7 pct 15.3 pct 15.9 pct
 Total 10.2 pct 11.6 pct 12.2 pct 12.8 pct
 TAX RATE 20.0 pct 17.0 pct 20.0 pct 17.0 pct
 Debt/Equity - February 28/93 0.67:1
 - August 31/92 0.64:1
 -0- 4/7/93
 /CONTACT: Paul Van Damme, vice president controller or, Tag Watson, vice president communications, both of Laidlaw Inc., 416-336-1800/
 (LDW.B)


CO: Laidlaw Inc. ST: Ontario IN: SU: ERN

LD -- NY086 -- 3985 04/07/93 19:15 EDT
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