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VIROGROUP, INC. FORECASTS SECOND QUARTER RESULTS

 CAPE CORAL, Fla., March 12 /PRNewswire/ -- ViroGroup, Inc. (NASDAQ: VIRO) announced today that it expects to report breakeven results for the second quarter ended Feb. 28, 1993. "While revenues will grow approximately 70 - 80 percent over the comparable period of a year ago, they will be about 15 percent less than originally expected. As a result, given our staffing level, earnings will be essentially at the breakeven level for the quarter," Robert A. Fletcher, chairman and chief executive officer, said today.
 He attributed the decline in revenues to contract delays on certain projects and an abrupt slowdown in underground-storage tank remediation work in parts of Texas, as clients cut back jobs due to the current underfunded nature of the State of Texas Reimbursement Fund.
 Fletcher said these project delays were only temporary and that the projects are back on track. "During the latter part of the quarter, we saw a noticeable improvement in business, and we are now quite busy throughout the company," he said. "A number of projects are under way, staff utilization is high, and the outlook for the remainder of the year is good. We are especially pleased to note the emergence of increased project work and other benefits from our strategic alliance with Laidlaw," he added.
 He acknowledged, however, that while tank remediation operations in Texas have not yet begun a turnaround, management, as art of its new strategy, had already begun to focus attention on building relations with other heavy-industry clients, and that it is continuing to actively pursue additional related opportunities. "Based on the early results of this focus, we should return to profitability in our Texas operations this quarter," Fletcher commented.
 ViroGroup provides a full range of environmental, hydrogeological and solid- and hazardous-waste management services nationwide to correct and improve air, water and soil quality. Most of the company's revenues are derived from the assessment and remediation of groundwater and soil contaminants and the design, permitting, construction management and compliance monitoring of solid- and hazardous-waste management facilities.
 -0- 3/12/93
 /CONTACT: Robert A. Fletcher, chairman and CEO of ViroGroup, Inc., 813-574-1919/
 (VIRO)


CO: ViroGroup, Inc. ST: Florida IN: ENV SU: ERP

SH-TS -- NY005 -- 5393 03/12/93 08:38 EST
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Publication:PR Newswire
Date:Mar 12, 1993
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