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TRANSAMERICAN WASTE INDUSTRIES REPORTS YEAR-END RESULTS

 HOUSTON, Oct. 22 /PRNewswire/ -- TransAmerican Waste Industries, Inc. (NASDAQ-NMS: WSTE) today reported revenue of $11,502,000 resulting in net income of $8,000 for the year ended Aug. 31, 1993. This compares with revenue of $10,562,000 resulting in net income of $2,035,000 for the year ended Aug. 31, 1992.
 This decrease in net income is primarily attributable to the increase of general and administrative expenses as a result of the increased staffing and related costs necessary to effectively build and manage the company and costs related to recently completed financings.
 Although earnings were down compared with the previous year, the balance sheet has improved substantially. Total assets have increased 241 percent over last year, from $8,966,000 to $30,602,000, including $10,300,000 of cash. Stockholder's equity increased 166 percent from $4,728,000 to $12,561,000.
 As previously announced, TransAmerican signed a 20-year management contract beginning on Oct. 9, 1993, for the waste disposal operations of the City of Mobile, Ala. Operations consist of the 367-acre Chastang Landfill and the Hickory Street Transfer Station. The company is focusing on expanding its solid waste and oil recovery operations as well as aggressively pursuing other acquisitions.
 TransAmerican Waste Industries, Inc. is an environmental solutions company involved in the transportation, processing and disposal of non- hazardous solid and industrial waste. Operations also include oilfield waste recovery as well as environmental consulting and engineering. The company's common stock is traded on the National Market System under the NASDAQ symbol WSTE.
 TRANSAMERICAN WASTE INDUSTRIES, INC.
 (Unaudited; in thousands, except per-share data)
 Period ended Aug. 31: Three Months Year
 1992 1993 1992 1993
 Revenue $3,034 $4,073 $10,562 $11,502
 Expenses:
 Cost of services 1,859 2,573 6,408 7,115
 Deprec. & amortization 106 465 330 1,098
 General & admin. 530 719 923 2,678
 Operating income 539 316 2,901 611
 Other income (expense)
 Interest income 17 46 46 66
 Interest expense (62) (225) (201) (388)
 Other (12) (235) (15) (273)
 Total other inc. (exp.) (57) (414) (170) (595)
 Income before taxes 482 (98) 2,731 16
 Income tax provision (52) 25 696 8
 Net Income $534 $(123) $2,035 $8
 Earnings (loss) per common
 & com. equiv. share $.04 $(.01) $.18 $.00
 Weighted avg. common &
 common equiv. shares 13,606 15,575 11,063 15,030
 Condensed Balance Sheet Data
 Aug. 31: 1992 1993
 Working capital $404 $9,366
 Total assets 8,966 30,602
 Long-term debt, net of
 current maturities 848 12,268
 Stockholders' equity 4,728 12,561
 Total capitalization 5,576 24,829
 -0- 10/22/93
 /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

JS -- NY053 -- 5822 10/22/93 14:59 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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