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CARETENDERS HEALTHCORP REPORTS RECORD QUARTERLY EARNINGS

 CARETENDERS HEALTHCORP REPORTS RECORD QUARTERLY EARNINGS
 LOUISVILLE, Ky., Oct. 30 /PRNewswire/ -- Caretenders HealthCorp (NASDAQ: CTND) today reported record quarterly earnings for the three and six month periods ending Sept. 30, 1992.
 William Yarmuth, chairman, president and CEO of Caretenders, said net income for the second quarter was $278,226 or $.02 per share, compared to a loss of $491,896 ($.04 per share) in the comparable period last year. Revenue for the quarter rose 13 percent to $10,659,249 from $9,399,170 last year.
 For the six month period, net income was $427,500, $.03 per share, compared to a loss of $416,353 ($.02 per share) in FY 92. Revenue for the first six months totaled $20,677,574, up 13 percent from $18,254,996 in the first six months last year.
 Yarmuth attributed the higher profitability to greater efficiencies and cost controls, as well as improved margins across all lines of business, including dramatic growth in the company's adult day care business and comprehensive home health care. For the first six months, revenue from adult day care rose 69 percent, and profitability grew 880 percent. Net income from comprehensive home health care operations grew 30 percent in the period, according to Yarmuth.
 "We have now turned in three successive profitable quarters and are clearly on the right course," said Yarmuth. "The dramatic growth of adult day care and higher profits in comprehensive home health care -- our two core businesses -- point to a bright future for the company."
 Yarmuth explained that the company's business plan continues to emphasize growth. "While we are extremely pleased with our improved profitability, we believe it is critical to focus on the long term profit potential of the adult day care market. In doing that, we will continue to stress the rapid development of that business."
 Yarmuth also announced that the company's tenth adult day care center will open next week in Lanham, Md. Caretenders is the largest provider of adult day care centers in the United States. The centers, operating under the name "Almost Family," are located in Maryland and Connecticut. The company plans to open four additional centers in the Fiscal Year 1993, and to expand to California in FY94. Caretenders has been given permission to open the first "for-profit" adult day care centers in California, where they heretofore have been prohibited by legislation.
 Caretenders HealthCorp provides accredited (JCAHO) comprehensive home health care and adult day care services in several major markets in the eastern United States.
 QUARTER ENDED SEPT. 30, 1992
 1992 1991 PCT. CHANGE
 REVENUE 10,659,249 9,399,170 13.4
 OPERATING INCOME 408,954 159,536 156.3
 NET INCOME 278,226 (491,896) N/A
 PER SHARE 0.02 (0.04) N/A
 SIX MONTHS ENDED SEPT. 30, 1992
 1992 1991 PCT. CHANGE
 REVENUE 20,677,574 18,254,996 13.3
 OPERATING INCOME 712,455 206,023 245.8
 NET INCOME 427,500 (416,353) N/A
 PER SHARE 0.03 (0.03) N/A
 -0- 10/30/92
 /CONTACT: John Yarmuth, Caretenders HealthCorp, 502-425-4707/
 (CTND) CO: Caretenders HealthCorp ST: Kentucky IN: HEA SU: ERN


MM -- CH003 -- 7100 10/30/92 12:19 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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