JIM WALTER CORP <JWC> 2ND QTR FEB 28 NET Shr 86 cts vs 62 cts Shr diluted 86 cts vs 59 cts Net 28.0 mln vs 18.3 mln Revs 513.5 mln vs 517.0 mln First half Shr 2.03 dlrs vs 1.78 dlrs Shr diluted 2.03 dlrs vs 1.61 dlrs Net 65.9 mln vs 50.0 mln Revs 1.11 billion vs 1.08 billion Avg shrs 32.4 mln vs 28.1 mln Avg shrs diluted 32.4 mln vs 32.4 mln NOTE: 1987 net includes gains of 645,000 dlrs, or two cts a share, in quarter and 12,290,000 dlrs, or four cts a share, from reduced pension expense under new accounting procedures Net in both 1987 periods also includes gain of 4.0 mln dlrs, or 12 cts a share, from sale of land in Alabama.