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TRANSAMERICAN WASTE INDUSTRIES REPORTS FIRST QUARTER RESULTS

 HOUSTON, Jan. 13 /PRNewswire/ -- TransAmerican Waste Industries, Inc. (NASDAQ: WSTE) today reported first quarter fiscal 1994 revenue of $3,822,000 compared with $2,165,000 for the same quarter last year, resulting in a net loss of $628,000, or $.04 per share, for the 1994 quarter vs. net income of $200,000, or $.01 per share, in the prior year.
 The increase in revenue from quarter to quarter is primarily attributable to expansion of the crude oil processing operations and the recently awarded Mobile, Ala., solid waste management contract. The first quarter 1994 net loss reflects significantly higher interest expense on the recently issued $16,022,000 principal amount of convertible subordinated debentures and increased amortization of permitting costs pertaining to the company's wastewater sludge treatment facility.
 TransAmerican Waste Industries, Inc. is an emerging environmental solutions company engaged in the processing, treatment and disposal of non-hazardous industrial and municipal solid waste and, to a lesser extent, in providing environmental engineering and consulting services.
 TRANSAMERICAN WASTE INDUSTRIES, INC.
 Consolidated Income Statement Data
 (Unaudited, in thousands, except per share data)
 Periods ended Nov. 30 Three Months
 1992 1993
 Revenue $ 2,165 $ 3,822
 Cost of services 1,254 2,774
 Gross margin 911 1,048
 Depreciation and amortization
 expense 71 706
 General and administrative expense 553 883
 Operating income (loss) 287 (541)
 Other income (expense):
 Interest expense (14) (467)
 Interest and other income, net 9 111
 Total other income (expense) (5) (356)
 Income (loss) before income taxes 282 (897)
 Provision (benefit) for income taxes 82 (269)
 Net income (loss) $ 200 $ (628)
 Earnings (loss) per common and
 common equivalent share $ .01 $ (.04)
 Weighted average common and common
 equivalent shares outstanding 14,182 15,536
 Condensed Consolidated Balance Sheet Data
 Aug. 31, 1993 Nov. 30, 1993
 Cash $ 10,307 $ 9,785
 Working capital $ 7,699 $ 5,586
 Total assets $ 31,572 $ 35,872
 Long-term debt, less current
 maturities $ 1,417 $ 1,300
 Convertible subordinated
 debentures, net of debt
 discount $ 10,851 $ 12,437
 Stockholders' equity $ 12,561 $ 12,348
 -0- 1/13/94
 /CONTACT: Tommy Fatjo, vice president of TransAmerican Waste Industries, Inc., 713-956-1212/
 (WSTE)


CO: TransAmerican Waste Industries, Inc. ST: Texas IN: ENV SU: ERN

TM -- NY099 -- 1959 01/13/94 18:10 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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