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OHM CORPORATION CONTINUED PROFITABLE TREND, REPORTING FOURTH QUARTER EARNINGS PER SHARE OF $0.02

 OHM CORPORATION CONTINUED PROFITABLE TREND,
 REPORTING FOURTH QUARTER EARNINGS PER SHARE OF $0.02
 FINDLAY, Ohio, Feb. 12 /PRNewswire/ -- OHM Corporation (NYSE: OHM), a leading on-site environmental remediation services firm, today announced net income of 2 cents per share on net revenues of $47.2 million for its fourth quarter ended Dec. 31, 1991. The impact of the economy continued to affect the company's remediation business, as net revenues were 4 percent below the fourth quarter of 1990 when the company reported net income from continuing operations, excluding nonrecurring gains and special charges, of 9 cents.
 For the year ended Dec. 31, 1991, excluding nonrecurring items, the company reported a net loss from continuing operations of (24 cents) per share on net revenues of $175.5 million. For 1990, excluding nonrecurring gains and special charges, the company reported net income from continuing operations of 68 cents per share on net revenues of $186.6 million.
 James L. Kirk, chairman, president and chief executive officer of OHM Corporation, said, "We believe our long-term prospects are strong. As a young industry, the remediation services business encountered its first economic slowdown in 1991. OHM initiated certain cost control measures during 1991 that, combined with significant strides made in our strategically important Southern and Western Regions, contributed to our return to profitability for the second half of the year. These cost controls are still in place and while we look ahead to the long term with optimism, our view is strongly tempered by short-term economic conditions."
 Business conditions for the company's 70 percent owned asbestos abatement subsidiary, NSC Corporation, improved considerably in the second half as compared to the first half of 1991, driven by a shake-out of competitors and an increase in demand for its services stimulated by anticipation of an improving economy as well as an increase in tenant turnover. NSC also took the first step of its strategic diversification program into environmental cleaning and maintenance services with its recent acquisition of Combined Plant Services, Inc. (CPS). Kirk said, in reference to the CPS acquisition, "The addition of these capabilities enhances the overall value of OHM Corporation to our clients."
 OHM Corporation is a leading nationwide environmental services company providing a broad range of hazardous waste remediation services through its more than 30 locations across the United States.
 OHM CORPORATION
 Consolidated Summary Financial Results
 (In thousands, except per share amounts)
 Quarter ended As Reported Pro Forma
 Dec. 31 1991 1990 1991(A) 1990(B)
 Gross revenues $65,905 $68,148 $65,905 $68,148
 Net revenues 47,222 49,221 47,222 49,221
 Operating income 3,041 4,226 3,041 4,226
 Income from
 continuing opers. 189 1,363 189 1,120
 Discontinued opers., net
 of income tax benefit -- (6,398) -- (601)
 Net income $ 189 $(5,035) $ 189 $ 519
 Net inc. (loss) per share:
 From continuing opers. $0.02 $ 0.11 $0.02 $ 0.09
 From discontinued opers. -- (0.53) -- (0.05)
 Total $0.02 $(0.42) $0.02 $ 0.04
 Twelve months ended As Reported Pro Forma
 Dec. 31 1991 1990 1991(A) 1990(B)
 Gross revenues $239,460 $243,398 $239,460 $243,398
 Net revenues 175,492 186,616 175,492 186,616
 Operating income 4,329 23,297 4,329 23,297
 Income (loss) from
 continuing opers. (6,863) 14,394 (2,913) 8,139
 Discontinued opers., net
 of income tax benefit -- (8,466) -- (2,271)
 Net income (loss) $ (6,863) $ 5,928 $ (2,913) $ 5,868
 Net inc. (loss) per share:
 From continuing opers. $(0.57) $ 1.20 $(0.24) $ 0.68
 From discontinued opers. -- (0.71) -- (0.19)
 Total $(0.57) $ 0.49 $(0.24) $ 0.49
 (A) -- Pro forma amounts for the 12 months ended Dec. 31, 1991, exclude special charges of $3,950,000 related to the company's share of equity losses from its joint venture with Consolidated Rail Corporation, Concord Resources Group, Inc. There were no such charges recorded in the quarter ended Dec. 31, 1991.
 (B) -- Pro forma amounts for the three and 12 months ended Dec. 31, 1990, exclude a nonrecurring gain of $335,000 and $9,225,000, respectively, which related to the initial public offering of common stock of the company's asbestos abatement subsidiary, and nonrecurring charges related to pension agreements and certain non-productive assets. Pro forma amounts for the three and 12 months ended Dec. 31, 1990, exclude special charges related to the company's joint venture and the loss from the disposition of discontinued operations.
 -0- 2/12/92
 /CONTACT: Samuel H. Iapalucci (financial), 419-424-4924; Pamela K.M. Beall (financial), 419-425-6002; or Cheryl Rectorschek (media), 419-424-4929, all of OHM/
 (OHM) CO: OHM Corporation ST: Ohio IN: SU: ERN


GK-SM -- NY014 -- 9118 02/12/92 09:41 EST
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Date:Feb 12, 1992
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