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VIROGROUP FIRST-QUARTER REVENUES AND EARNINGS DOUBLE

 CAPE CORAL, Fla., Jan. 14 /PRNewswire/ -- ViroGroup, Inc. (NASDAQ: VIRO) reported that earnings and gross revenues for its fiscal first quarter ended Nov. 30, 1992 doubled its results for the same period last year, it was announced today by Robert A. Fletcher, chairman and chief executive officer. The substantial increase was primarily due to the inclusion of ETE operations acquired last April and to a general increase in the company's environmental services business.
 Net income for the three months ended Nov. 30, 1992 was $408,400, a 113-percent gain from $193,249 a year ago. Earnings per share were $.13, the same as reported last year, despite a 114-percent increase in the average number of shares outstanding during the last 12 months. Gross revenues increased 101 percent to $6,766,279 from $3,371,095 in the first quarter of fiscal 1992.
 "We are quite excited about our prospects for accelerating growth during the coming year," Fletcher said. "We recently completed our first year as a publicly owned company, and expect that the strong results we have been experiencing will continue and will increasingly have greater favorable impact to earnings per share during the remainder of the year."
 "Two major projects were just recently started during our fiscal second quarter -- the expansion of an existing landfill facility for a client in South Carolina and a pretreatment facility to expand another existing operation in California. These projects are solidly underway and should generate significant gains in revenues and earnings in 1993."
 "Additionally, ViroGroup has submitted numerous remediation project proposals, some of which may also be expected to contribute to our planned growth this year," Fletcher said. "As the year progresses, we expect to see increased vitality in the market place. There are a large number of proposed projects just waiting for a budgetary and regulatory go-ahead," he added, "and we confidently expect to share in the increased activity."
 Strong growth in sales of company offices opened since the beginning of fiscal 1992 contributed to the increase in quarterly revenues. Operating margins for the period were essentially flat, as higher unbilled project proposal expenses offset cost improvements in project management. General, administrative and marketing expenses increased in line with the expansion of the company's operations.
 ViroGroup provides a full range of environmental, hydrogeological and hazardous and solid 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 contamination and the design, permitting, construction management, and compliance monitoring of hazardous and solid waste management facilities.
 VIROGROUP, INC.
 Consolidated Statement of Income
 (In thousands, except per share amounts, unaudited)
 Three months ended Nov. 30 1992 1991 Pct. Change
 Gross revenues $6,766.3 $3,371.1 101
 Cost of revenues 4,087.5 2,135.9 91
 Gross profit 2,678.8 1,235.2 117
 S,G&A expenses 1,901.8 886.0 115
 Income from operations 777.0 349.2 123
 Other income/(expense)
 Interest expense (57.0) (27.9) 104
 Interest income 14.1 .2 n/m
 Amortization of goodwill (45.4) 0 n/m
 Other, net (1.3) (.3) n/m
 Income before income taxes 687.4 321.2 114
 Provision for income taxes 279.0 128.0 118
 Net income 408.4 193.2 113
 Earnings per common share .13 .13 --
 Weighted average number of
 shares outstanding 3,203.8 1,500.0 114
 BALANCE SHEET ITEMS
 (In thousands)
 11/30/92 8/31/92 Pct. Change
 Cash and cash equivalents $ 282.1 $ 105.3 168
 Accounts receivables, net
 Billed 5,015.7 6,188.6 (19)
 Unbilled 1,354.1 539.4 151
 Other current assets 429.8 584.3 (26)
 Current assets 7,081.7 7,417.6 (5)
 Property and equipment, net 1,309.1 1,299.0 1
 Other assets 8,608.7 8,474.1 2
 Total assets 16,999.5 17,190.7 (1)
 Total current liabilities 4,027.1 4,580.5 (12)
 Long-term debt 20.8 52.5 (60)
 Other long-term obligations 211.7 213.3 (1)
 Total shareholders equity 12,739.9 12,344.4 3
 -0- 1/14/93
 /CONTACT: Robert A. Fletcher of ViroGroup, Inc., 813-574-1919/
 (VIRO)


CO: ViroGroup, Inc. ST: Florida IN: SU: ERN

LR-OS -- NY010 -- 4753 01/14/93 09:57 EST
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Date:Jan 14, 1993
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