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MID-AMERICAN WASTE SYSTEMS, INC. REPORTS RECORD EARNINGS

 MID-AMERICAN WASTE SYSTEMS, INC. REPORTS RECORD EARNINGS
 CANAL WINCHESTER, Ohio, April 20 /PRNewswire/ -- Mid-American Waste Systems, Inc. (NYSE: MAW) reported today that for the first quarter of 1992 net income per common and common equivalent share increased 11 percent to $.20 from $.18, revenues increased 64 percent, earnings from operations gained 52 percent, and net income rose 48 percent, compared with the first quarter of 1991.
 For the three-month period ended March 31, 1992, revenues reached $37.7 million, compared with $23.0 million during the first quarter of 1991, while earnings from operations advanced to $8.2 million from $5.4 million for the comparable 1991 period. Net income rose to $4.4 million for the first quarter of 1992, up from $3.0 million in the prior year.
 Mid-American, headquartered in Canal Winchester, Ohio, is a publicly held company listed on the New York Stock Exchange and trading under the symbol "MAW." The company is engaged in the non-hazardous solid waste management business in selected markets in Ohio, Pennsylvania, Indiana, Georgia, West Virginia, Illinois, New Jersey, Colorado, Massachusetts, Delaware, Maine, Kentucky and South Carolina.
 Mid-American Waste Systems, Inc. and Subsidiaries
 CONSOLIDATED STATEMENT OF INCOME
 (Unaudited)
 Three Months Ended
 March 31
 1992 1991
 REVENUES:
 Collection services $30,262,000 $ 17,540,000
 Landfill operations 7,475,000 5,456,000
 TOTAL 37,737,000 22,996,000
 EXPENSES:
 Collection operations 14,168,000 8,765,000
 Landfill operations 3,749,000 1,869,000
 Depreciation and amortization 5,883,000 2,860,000
 Selling, general and administrative 5,761,000 4,124,000
 TOTAL 29,561,000 17,618,000
 Earnings from operations 8,176,000 5,378,000
 INTEREST EXPENSE 1,023,000 496,000
 INTEREST INCOME 254,000 83,000
 OTHER INCOME 167,000 79,000
 INCOME BEFORE INCOME TAXES 7,574,000 5,044,000
 INCOME TAXES 3,219,000 2,093,000
 Net income $ 4,355,000 $ 2,951,000
 NET INCOME PER SHARE $.20 $.18
 COMMON SHARES AND COMMON
 EQUIVALENT SHARES OUTSTANDING 22,224,844 16,694,450
 -0- 4/20/92
 /CONTACT: Michael T. Patton of Mid-American Waste Systems, Inc., 614-833-9155/
 (MAW) CO: Mid-American Waste Systems, Inc. ST: Ohio IN: SU: ERN


DA -- CL003 -- 9858 04/20/92 08:35 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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