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ORANGE COUNTY EARNINGS

August 25, 1995

Wahlco Environmental Systems Inc.: The Santa Ana manufacturer of air pollution control and power efficiency equipment said it lost $2.8 million, or 16 cents a share, for the second quarter. That compares with a net loss of $59.9 million, or $3.40 a share, for the 1994 second quarter, which included one-time charges totaling $56.4 million. Revenue dropped 22% to $14.4 million from $18.6 million. The company attributed the decline to businesses discontinued in 1994 and delayed production caused by closing its Puerto Rico plant. The company recorded a net loss of $3.3 million, or 19 cents a share, for the first half, compared with a loss of $63.5 million, or $3.60 a share, for the prior-year period. Revenue was down 13% to $30.4 million from $35 million.

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