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FUTURE HEALTHCARE REPORTS FIRST QUARTER RESULTS

 CINCINNATI, May 4 /PRNewswire/ -- Future HealthCare, Inc. today reported revenues for the first quarter ended March 31, 1993 of $1,919,157 an increase of 93 percent over the $993,440 reported for the same period of 1992. Net earnings for the period, were $433,898 or $.15 per share vs. $5,250 or $.01 per share for the same period in 1992. The company's past net operating losses eliminate its current federal tax liability. Had the company been liable for federal taxes on its earnings, net after-tax earnings would have been $282,034 or $.10 per share.
 These results continue the trend experienced over the past four quarters of increased revenues and net earnings. The increase in the company's profitability is a result of higher utilization of the company's sites.
 The company expects to open its eighth site in Atlanta on May 15, and its ninth site in Philadelphia on June 1. The Atlanta site will be operated by Stephen F. Gordon, M.D. Gordon has over twenty years experience in conducting clinical trials. Ellen Liedel, R.N. who has been operating her own clinical trial business, will be the Site Director for the Philadelphia site.
 The company expects to open at least one additional site in 1993.
 Future HealthCare provides clinical trial services to the pharmaceutical industry. The company believes its services can reduce the cost of conducting clinical trials for the pharmaceutical industry. Through the company's seven owned and operated investigative sites, Future HealthCare conducts Phases I-IV clinical trials. The company's corporate headquarters are located in Cincinnati, and its clinics are located in Cincinnati, Dayton and Columbus, Ohio; Birmingham, Ala.; West Orange, N.J.; Olympia, Wash.; and Orlando, Fla.
 FUTURE HEALTHCARE, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 Three Months Ended March 31,
 1993 1992
 (unaudited) (unaudited)
 Contract revenues $ 1,919,157 $ 993,440
 Cost of revenues 1,145,667 766,737
 Gross profit (loss) 773,490 226,703
 Selling, general and
 administrative expenses 304,777 143,055
 Earnings (loss) from operations 468,713 83,648
 Other income (expense), net
 Interest expense: (35,156) (79,384)
 Miscellaneous income (expense), net 341 986
 Total other expense (34,815) (78,398)
 Net earnings before income taxes $ 433,898 $ 5,250
 Provision for income taxes 151,864 0
 Net earnings 282,034 5,250
 Net earnings per share, before tax 0.15 0.01
 Net earnings per share: 0.10 0.01
 Shares used in computing net
 earnings (loss) per share 2,950,381 873,288
 -0- `? 5/4/93
 /CONTACT: John D. Peckskamp, Jr. of Future HealthCare, Inc., 513-651-2525/


CO: Future HealthCare, Inc. ST: Ohio IN: MTC SU: ERN

BM -- CL010 -- 4371 05/04/93 13:34 EDT
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Publication:PR Newswire
Date:May 4, 1993
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