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HEALTH MANAGEMENT ASSOCIATES, INC. REPORTS RECORD EARNINGS FOR THE FOURTH QUARTER AND YEAR ENDED SEPT. 30, 1992

 HEALTH MANAGEMENT ASSOCIATES, INC. REPORTS RECORD EARNINGS
 FOR THE FOURTH QUARTER AND YEAR ENDED SEPT. 30, 1992
 NAPLES, Fla., Oct. 14 /PRNewswire/ -- William J. Schoen, chairman, president and chief executive officer of Health Management Associates, Inc. (NYSE: HMA) announced today that net earnings increased 63 percent during the fourth quarter ended Sept. 30, 1992. Net earnings were $4,612,000 compared to the $2,830,000 in the same quarter a year ago. Net earnings per share increased to 24 cents on 19,291,000 shares as compared with 17 cents on 16,868,000 shares a year ago. The results include a 2 cent reduction per share resulting from the redemption of high interest subordinated debt in the fourth quarter. Net revenues increased during the quarter to $69,010,000 from $61,423,000 for the same quarter a year ago.
 In commenting on the company's fourth quarter results, Mr. Schoen said, "The company's success continues to result from the delivery of expanded and improved services, and our strategic acquisition program. The company in its fourth quarter continued to experience gains in admissions, outpatient and inpatient surgeries and emergency room visits."
 Net earnings for the year ended Sept. 30, 1992 increased to $22,678,000 from $11,991,000 for the year ended Sept. 30, 1991. Per share earnings for the year were $1.20 on 18,898,000 shares as compared to 79 cents on 15,156,000 shares outstanding during the prior year. This is a net earnings per share increase of 52 percent after 25 percent increase in the number of shares outstanding. Total net revenues increased to $277,961,000 in the prior year. The company's results for the year ended Sept. 30, 1992 are subject to the completion of the annual audit.
 Included in the net earnings for the current year is a net extraordinary gain of $797,000, or 4 cents per share, resulting from the refinancing of a hospital bond issue during the first quarter, partially offset by the early redemption of the company's remaining outstanding subordinated debt during the fourth quarter.
 Health Management Associates is a major operator of general acute care hospitals in communities situated primarily in the southeast and southwest. The company operates 16 facilities in 10 states with a total of 1,658 licensed beds.
 HEALTH MANAGEMENT ASSOCIATES, INC.
 Selected Financial Data
 for the three months and year ended
 Three months ended Sept. 30, 1992 1991
 Net operating revenue $69,010,000 $61,423,000
 Net income 4,612,000 2,830,000
 Earnings per share:
 Before extraordinary item $.26 $.17
 Extraordinary item (.02) --
 Total $.24 $.17
 Shares outstanding 19,291,000 16,868,000
 Year ended Sept. 30, 1992 1991
 Net operating revenue $277,961,000 $226,140,000
 Net income 22,678,000 11,991,000
 Earnings per share:
 Before extraordinary item $1.16 $.79
 Extraordinary item .04 --
 Total $1.20 $.79
 Shares outstanding 18,898,000 15,156,000
 -0- 10/14/92
 /CONTACT: William J. Schoen, president of Health Management


Association, 813-598-3175/
 (HMA) CO: Health Management Associates, Inc. ST: Florida IN: HEA SU: ERN


AH-SH -- NY014 -- 9728 10/14/92 09:32 EDT
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Date:Oct 14, 1992
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