DRAVO &lt;DRV> TO HAVE FIRST QUARTER LOSS

  Dravo Corp said it expects a first
  quarter loss of about 30 cts per share, compared with a
  year-earlier profit of one ct, and said operating earnings for
  all of 1987 may not match 1986's earnings of 61 cts per share
  from continuing operations.
      Dravo saidperformance so far this year in its engineering
  and construction segment has not met earlier expectations.
      It said the first quarter will be impacted by writedowns
  resulting fromn revised estimates of costs required to complete
  projects and by delays in starting work on jobs originally
  forecasted to contribute to first quarter earnings.
      Dravo further said it has given the investor group buying
  Dravo's river transportation, stevedoring and pipe frabrication
  businesses additional time to structure the necessary
  permanenty financing, and closing is now expected in the third
  quarter.
  

