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WASHINGTON HOMES, INC. POSTS SOLID GAINS IN FISCAL THIRD QUARTER

 LANDOVER, Md., May 26 /PRNewswire/ -- Washington Homes, Inc. (NASDAQ-NMS: WHIN) announced net earnings of $3,578,000, or 70 cents per share during the nine months ended April 30, 1993, compared to $47,000 during the nine months ended April 30, 1992. Total revenues increased 19.8 percent to $85,344,000, in the first nine months of fiscal 1993 from $71,269,000, during the first nine months of fiscal 1992. This represents the highest first nine month revenues in the company's history.
 The company delivered 601 homes in the nine month period of 1993, compared to 509 homes delivered in the nine month period of 1992, an increase of 18.1 percent. Sales contracts signed for the nine month period increased to 783 homes compared to 727 homes in the same period of 1992. The company's backlog of homes under contract as of April 30, 1993, increased to 704 homes from 686 on April 30, 1992, representing an aggregate sales value of over $98 million, which is the highest backlog of both dollar value and number of homes under contract in the company's 28 year history.
 In announcing the record results, Geaton A. DeCesaris Jr., the company's president and chief executive officer, said: "For seven consecutive quarters, we have consistently exceeded prior year numbers for new homes delivered and backlog of homes under contract. With a backlog of over 700 homes at April 30, 1993, Washington Homes is poised for another record year. The record nine month results have been achieved despite poor weather conditions during the third quarter."
 For the quarter ended April 30, 1993, the company had net earnings of $1,555,000, or 23 cents per share in comparison to $374,000, in the third quarter of 1992. Revenues rose 36.3 percent to $31,301,000, in the third quarter of 1993 from $22,968,000, in the third quarter of 1992. The number of homes delivered increased 27.2 percent to 215 homes in the third quarter of 1993, compared to 169 homes in the third quarter of 1992. The company entered into sales contracts for 366 homes in the third quarter of 1993, compared to 355 homes in the same quarter of 1992.
 Results for the three month and nine month period ended April 30, 1993, and 1992, are set forth below (unaudited):
 WASHINGTON HOMES, INC.
 Quarter ended April 30,
 1993 1992
 Revenues $31,301,000 $22,968,000
 Earnings (loss) from continuing
 operations 1,555,000 396,000
 Discontinued operations -- (22,000)
 Net earnings 1,555,000 374,000
 Average outstanding shares 6,830,000 4,000,000
 Earnings per share
 Continuing operations 0.23 0.10
 Net earnings 0.23 0.09
 Nine Months ended April 30,
 1993 1992
 Revenues $85,344,000 $71,269,000
 Earnings (loss) from continuing
 operations 3,387,000 301,000
 Discontinued operations 191,000 (254,000)
 Net earnings 3,578,000 47,000
 Average outstanding shares 5,127,000 4,000,000
 Earnings per share
 Continuing operations 0.66 0.07
 Net earnings 0.70 0.01
 Washington Homes designs, builds, and markets single family detached homes, townhomes, and condominiums. It is a leading provider of moderately priced, quality homes in the Washington and Baltimore metropolitan areas.
 Shares of Washington Homes common stock are traded on the NASDAQ National Market System under the symbol "WHIN" and are listed in stock quotation tables as "WashHomes."
 -0- 5/26/93
 /CONTACT: Geaton A. DeCesaris Jr., of Washington Homes, 301-772-8900/
 (WHIN)


CO: Washington Homes, Inc. ST: Maryland IN: CST SU: ERN

IH-DC -- DC030 -- 2559 05/26/93 15:14 EDT
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Date:May 26, 1993
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