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WHEELABRATOR TECHNOLOGIES REPORTS HIGHER REVENUES AND NET INCOME FOR 1991 AND THE FOURTH QUARTER

 WHEELABRATOR TECHNOLOGIES REPORTS HIGHER REVENUES
 AND NET INCOME FOR 1991 AND THE FOURTH QUARTER
 OAK BROOK, Ill., Feb. 4 /PRNewswire/ -- Wheelabrator Technologies Inc. (NYSE: WTI) today reported improved net income and revenues in the fourth quarter and for the full year 1991.
 For the year ended Dec. 31, 1991, the company's net income was $126 million, or $1.46 per share, vs. a loss of $70.2 million, or $0.88 per share, in 1990. Excluding the effects of nonrecurring charges in 1990 and gains on the sales of two foreign subsidiaries in 1991, net income from ongoing operations in 1991 was $97.2 million, or $1.13 per share, compared with $71.4 million, or $0.90 per share, in 1990.
 Fourth quarter net income climbed 40 percent to $28.8 million, or $0.32 per share, compared with net income of $20.5 million, or $0.25 per share, in the quarter a year earlier. Revenues for the quarter ended Dec. 31 were $335 million, an increase of 12 percent from $299 million a year earlier.
 The increases in income for the quarter and full year reflect the continued strong performance of the company's trash-to-energy facilities as well as the effect of certain acquired businesses during 1991. In the third quarter, Wheelabrator Technologies acquired several environmental service businesses as well as a 15 percent equity interest in Waste Management International, N.V.
 Also in the third quarter of 1991, Wheelabrator Technologies commenced operations at one of its two new 2,250-ton-per-day trash-to- energy facilities in Broward County, Fla. The second Broward County facility and an 800-ton-per-day plant in Spokane, Wash., will begin commercial operation in early 1992.
 Shortly after year's end, Wheelabrator Technologies formed SEC Donohue Inc., created through the merger of two environmental and infrastructure engineering and consulting subsidiaries, Sirrine Environmental Consultants, Inc., and Donohue & Associates, Inc.
 The formation of SEC Donohue follows Wheelabrator Technologies' January 1992 acquisition of Sirrine Environmental Consultants from Chemical Waste Management, Inc. In September 1991, Wheelabrator acquired Donohue, a Sheboygan, Wis.-based engineering, architecture and scientific services firm.
 The newly formed division also includes certain environmental activities that were previously conducted by Rust International Corporation, Wheelabrator Technologies' project management and engineering subsidiary, and selected environmental professionals from Waste Management of North America.
 Chemical Waste Management and Waste Management of North America are subsidiaries of Waste Management, Inc., which owns 57 percent of Wheelabrator Technologies.
 SEC Donohue will provide consulting services in the areas of hazardous and solid waste management, air quality control, water and wastewater treatment, and industrial hygiene, in addition to transportation and infrastructure design services.
 Wheelabrator Technologies Inc. is a multifaceted environmental services company. It is the nation's leading developer and operator of trash-to-energy and cogeneration facilities, is a leader in supplying air pollution control systems for industrial and utility applications, and provides a range of water and wastewater treatment services including sludge management and composting systems.
 WHEELABRATOR TECHNOLOGIES INC.
 Income Statements
 (In millions, except per share amounts)
 Three months ended Dec. 31 1991 1990
 (Unaudited)
 Revenues $ 334.8 $ 298.5
 Other income, net 22.0 11.3
 Total 356.8 309.8
 Cost of sales 256.4 237.2
 Selling, general & administrative exps. 38.4 31.2
 Interest expense 17.1 10.7
 Income before income taxes 44.9 30.7
 Income tax provision 16.1 10.2
 Net income $ 28.8 $ 20.5
 Earnings per common share $ 0.32 $ 0.25
 Weighted aver. common shares outstanding 91.5 80.6
 Year ended Dec. 31 1991 1990
 Revenues $1,173.4 $1,151.9
 Gain on sale of foreign operations 47.1 --
 Other income, net 59.3 46.7
 Total 1,279.8 1,198.6
 Cost of sales 906.2 920.4
 Selling, general & administrative exps. 118.5 121.2
 Interome before income taxes 200.5 75.3
 Income tax provision 74.5 27.9
 Income before extraordinary item and
 cumulative effect of accounting change 126.0 47.4
 Extraordinary item - unrealized loss
 on investments in common stock -- (111.3)
 Cumulative effect of change in accounting
 for investment tax credits -- (6.3)
 Net income (loss) $ 126.0 $ (70.2)
 Earnings (loss) per common share:
 Before extraordinary item and
 cumulative effect of accounting change $ 1.46 $ 0.60
 Extraordinary item -- (1.40)
 Cumulative effect of accounting change -- (0.08)
 Net income (loss) $ 1.46 $ (0.88)
 Weighted aver. common shares outstanding 86.2 79.2
 -0- 2/4/92
 /CONTACT: William J. Plunkett (media), 708-572-8898; or James E. Koenig (analysts) 708-572-8822, both for Wheelabrator Technologies/
 (WTI) CO: Wheelabrator Technologies Inc. ST: Illinois IN: SU: ERN


GK -- NY015 -- 6521 02/04/92 09:05 EST
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Date:Feb 4, 1992
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