PITTSBURGH, April 25 /PRNewswire/ -- Pitt-Des Moines, Inc. (AMEX: PDM)
today reported net income of $2.1 million, or $.60 per share, on earned
revenue of $109.6 million for the quarter ended March 31, 1997.  These results
compare with net income of $3.2 million, or $.90 per share, on earned revenue
of $116.0 million for the quarter ended March 31, 1996.
    During the first quarter of 1997, earned revenue decreased $6.4 million
and income from operations decreased $1.9 million when compared with 1996.
The Engineered Construction Division reported lower levels of earned revenue
and as a result income from operations decreased for the current quarter when
compared with 1996.  The Steel Construction business segment reported
decreases in earned revenue and income from operations due primarily to the
closure of the Melrose Park structural steel fabricating facility.  On the
positive side, Steel Service Centers outperformed 1996 results in both earned
revenue and income from operations.
    New awards increased $33.6 million to $134.9 million for the current
quarter when compared with $101.3 million for the first quarter of 1996.  This
resulted in a strong backlog level of $197.4 million at March 31, 1997, a
$25.0 million increase from December 31, 1996.
    Pitt-Des Moines, Inc. (PDM R) is a diversified engineering and
construction company that also processes and distributes a broad range of
carbon steel products.  PDM has three business segments:  the Engineered
Construction Division, Steel Construction and Steel Service Centers.  PDM has
sales offices and plant facilities located primarily in the United States.

                            PITT-DES MOINES, INC.
                      CONSOLIDATED STATEMENTS OF INCOME
                                 (UNAUDITED)

                                               For the three months ended
                                                        March 31,
    (in thousands, except per share amounts)     1997               1996
    Earned revenue                            $109,581          $115,966
    Cost of earned revenue                     (95,477)         (101,035)
      Gross profit from operations              14,104            14,931

    Selling, general and
     administrative expenses                   (10,692)           (9,619)
       Income from operations                    3,412             5,312

    Other income/(expense):
       Interest income                             194               240
       Interest expense                            (72)             (277)
       Gain on sale of assets                       37                20
       Miscellaneous, net                         (126)              (85)
                                                    33              (102)
      Income before income taxes                 3,445             5,210
    Income taxes                                (1,344)           (2,036)
      Net income                                $2,101            $3,174

    Per common share:
        Net income per common share               $.60              $.90

    Shares used to calculate income
     per share (in thousands)                    3,522             3,525

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