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ORANGE COUNTY EARNINGS

August 22, 1996

Wahlco Environmental Systems Inc.: The Santa Ana designer and maker of air pollution equipment said that it lost $4.1 million, or 23 cents a share, in the second quarter, compared with a loss of $2.8 million, or 16 cents a share, a year ago. Revenue dropped about 30%, to $10.1 million from $14.5 million.

For the first six months, Wahlco's losses rose to $4.9 million, or 28 cents a share, from $3.3 million, or 19 cents a share, a year earlier. Revenue fell about 23%, to $23.5 million from $30.4 million. Operations discontinued in 1995 accounted for about 25% of the revenue decrease.

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