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ZIEGLER ANNOUNCES THIRD QUARTER RESULTS

 WEST BEND, Wis., Oct. 15 /PRNewswire/ -- The Ziegler Companies, Inc. (AMEX: ZCO) a financial services holding company, today released its unaudited financial results for the third quarter ended Sept. 30, 1993.
 Total revenues for the three months ended Sept. 30, 1993, were $11,847,000 compared to $11,819,000 in the third quarter of 1992. Net income for the quarter was $1,004,000 compared to $1,321,000 in the third quarter of 1992. Earnings per share were 42 cents, compared with 53 cents per share in 1992, based on fewer average shares outstanding in 1993.
 For the nine months ended Sept. 30, 1993, total revenue and net income were $36,410,000 and $2,853,000, respectively, compared to $35,097,000 and $3,314,000 in 1992. Earnings per share in the nine months were $1.20 versus $1.28 in the same period a year ago.
 Peter D. Ziegler, president and chief executive officer, said, "Results at B.C. Ziegler and Company were lower than those of a year ago. While underwriting volume was fairly strong in the quarter, distribution of this product was more heavily concentrated in our retail system, which has distribution costs higher than those of our institutional sales. Personnel costs are higher, too, as we have consciously invested in people in hopes of increasing future revenue."
 Ziegler said Ziegler Thrift Trading, Inc. had another quarter in which net income was higher than the previous year. Ziegler Leasing Corporation's net income was down, primarily as a result of less equipment coming off lease, and consequently, lower residual gains on sale of equipment.
 Assets under the management of Ziegler Asset Management, Inc., increased to more than $400,000,000, up from the sum of $246,000,000 managed at this point in 1992. Waste Research and Reclamation Co., Inc. experienced its most profitable quarter in a number of years.
 Book value per share at Sept. 30, 1993, was $20.93
 The Ziegler Companies, Inc., is a financial services holding company headquartered in West Bend, Wis. It owns eight subsidiary companies: B.C. Ziegler and Company; Ziegler Leasing Corporation; Ziegler Thrift Trading, Inc.; Ziegler Asset Management, Inc., Ziegler Collateralized Securities, Inc.; Ziegler Financing Corporation; First Church Financing Corporation; and Waste Research and Reclamation Company, Inc. Ziegler stock is traded on the American Stock Exchange under the symbol ZCO.
 THE ZIEGLER COMPANIES, INC.
 CONSOLIDATED STATEMENTS OF EARNINGS
 Three Months
 Ended Sept. 30,
 1993 1992
 Revenues Before Interest
 and Dividends $11,238,000 $11,220,000
 Interest and Dividends 609,000 599,000
 Total Revenues 11,847,000 11,819,000
 Operating Expenses 9,063,000 8,506,000
 Interest Expense 1,155,000 1,194,000
 Income Before Taxes 1,629,000 2,119,000
 Net Income 1,004,000 1,321,000
 Earnings per Share of Common Stock .42 .53
 Average Number of Common Shares
 Outstanding 2,384,365 2,459,065
 Number of Common Stockholders 615 580
 Nine Months
 Ended Sept. 30,
 1993 1992
 Revenues Before Interest
 and Dividends $34,790,000 $33,481,000
 Interest and Dividends 1,620,000 1,616,000
 Total Revenues 36,410,000 35,097,000
 Operating Expenses 28,428,000 26,377,000
 Interest Expense 3,276,000 3,378,000
 Income Before Taxes 4,706,000 5,342,000
 Net Income 2,853,000 3,314,000
 Earnings per Share of Common Stock 1.20 1.28
 Average Number of Common Shares
 Outstanding 2,382,694 2,590,094
 Number of Common Stockholders 615 580
 -0- 10/15/93
 /CONTACT: Peter D. Ziegler, president and CEO, of The Ziegler Companies, 414-334-5521/
 (ZCO)


CO: The Ziegler Companies ST: Wisconsin IN: FIN SU: ERN

BM -- CL008 -- 2887 10/15/93 16:05 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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