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REPUBLIC WASTE INDUSTRIES REPORTS INCREASED 1992 RESULTS FROM CONTINUING OPERATIONS

 ATLANTA, Feb. 16 /PRNewswire/ -- Republic Waste Industries, Inc. (NASDAQ: RWIN; TSE: RWI) today reported that income from continuing operations before non-recurring charges for the year ended Dec. 31, 1992, increased 36 percent to $8,485,000 from $6,242,000 last year on a 5 percent increase in revenue to $110,009,000 from $105,116,000 during 1991.
 Earnings per share from continuing operations before non-recurring charges were $.32 per share for both years. There were 26,351,000 weighted average shares outstanding for 1992, an increase of 37 percent from 19,245,000 in 1991. As reported earlier this year, Republic incurred significant transaction costs relating to the merger with Republic Environmental Systems, Inc. (formerly Stout Environmental, Inc.) of $.08 per share and sold its demolition operations resulting in an unusual charge of $.77 per share during the first quarter of 1992.
 Income from continuing operations before non-recurring charges for the fourth quarter ended Dec. 31 increased 38 percent to $2,491,000 from $1,799,000 for the same quarter in 1991 on a 4 percent increase in revenue to $29,874,000 from $28,850,000 and related earnings per share increased to $.09 per share vs. $.07 per share last year. The fourth quarter benefited by an income tax adjustment due to over provisions for income taxes for the first nine months of 1992. There were 27,489,000 weighted average shares outstanding for the fourth quarter of 1992, an increase of 17 percent from 23,515,000 in 1991.
 M.G. DeGroote, CEO, stated that: "Fourth quarter results from our Solid Waste Division were favorably impacted by our recent acquisition of Cleveland Container Services, Inc. Although waste volumes for the quarter at our newly constructed special waste site in Texas were below expectation, we are anticipating increased activity at the site during the first part of 1993. In our Hazardous Waste Division, we continue to seek new business and improve operations while we continue to feel some effect from the weak economy and price competition at our treatment, storage and disposal facilities. As the economy improves, we will benefit substantially due to our strategic locations, strong new management and streamlined operations."
 Republic Waste Industries is an emerging waste service company serving the needs of a broad range of solid and hazardous waste generators in the North American environmental services industry.
 REPUBLIC WASTE INDUSTRIES, INC.
 Unaudited Statement of Operations
 (In thousands, except per share data)
 Year ended 3 mos. ended
 12/31/91 12/31/92 12/31/91 12/31/92
 Revenue $105,116 $110,009 $ 28,850 $ 29,874
 Expenses
 Cost of operations 71,795 77,369 20,427 21,935
 Selling, gen. & admin. 21,148 22,657 5,112 5,992
 Interest and other income (1,518) (2,555) (349) (82)
 Interest expense 3,158 1,933 710 487
 Total 94,583 99,404 25,900 28,332
 Income from cont. opers.
 bef. income taxes and
 non-recurring charges 10,533 10,605 2,950 1,542
 Inc. tax (provision) benefit (4,291) (2,120) (1,151) 949
 Income from cont. opers. bef.
 non-recurring charges 6,242 8,485 1,799 2,491
 Restructuring costs (net
 of income taxes) (926) --- --- ---
 Unusual item - Stout acquisition,
 restructuring and financing costs
 Before income taxes --- (2,827) --- (239)
 Inc. tax provision (benefit) --- 565 --- (392)
 Total --- (2,262) --- (631)
 Income from cont. opers 5,316 6,223 1,799 1,860
 Discontinued operations
 Income (loss) from opers. (1,302) (2,664) 324 ---
 Loss on disposition --- (17,563) --- ---
 Total (1,302) (20,227) 324 ---
 Net income (loss) $ 4,014 $(14,004) $ 2,123 $ 1,860
 Earnings (loss) per common and common equiv. share
 Continuing operations
 Before non-recurring chgs. $ .32 $ .32 $ .07 $ .09
 Non-recurring charges (.04) (.08) --- (.02)
 Discontinued operations (.07) (.77) .01 ---
 Net income (loss) $ .21 $ (.53) $ .08 $ .07
 Wtd. avg. common and common
 equivalent shares 19,245 26,351 23,515 27,489
 Condensed Balance Sheet Data 12/31/92 9/30/92 12/31/91
 Working capital $ 6,509 $ 6,339 $ 4,800
 Total assets $167,396 $157,449 $177,630
 Long-term debt, net of current
 maturities $ 18,452 $ 16,615 $ 15,690
 Stockholders' equity $ 97,255 $ 91,990 $ 96,611
 Total capitalization $115,707 $108,605 $112,301
 -0- 2/16/93
 /CONTACT: Courtland D. Peddy of Republic Waste Industries, 404-431-7140/
 (RWIN)


CO: Republic Waste Industries, Inc. ST: Georgia IN: SU: ERN

BR-BN -- AT008 -- 6834 02/16/93 13:38 EST
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Date:Feb 16, 1993
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