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HEALTH RISK MANAGEMENT REPORTS FIRST QUARTER FIRST QUARTER OPERATING INCOME UP 162 PERCENT

 HEALTH RISK MANAGEMENT REPORTS FIRST QUARTER
 FIRST QUARTER OPERATING INCOME UP 162 PERCENT
 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- Health Risk Management, Inc. (NASDAQ: HRMI) (HRM) reported today that during its first quarter ended Sept. 30 revenues increased 76 percent, operating income increased 162 percent, and net income increased 18 percent over the same quarter a year ago.
 Revenues for HRM's first quarter this fiscal year were $9,272,000 compared to $5,282,000 last year; operating income was $380,000 compared to $145,000; and net income was $301,000 or $.08 per share compared to $255,000 or $.07 per share a year ago. Net interest expense in this year's first quarter was $76,000 versus net interest income of $112,000 in the same quarter last fiscal year.
 Gary T. McIlroy, M.D., HRM chairman and chief executive officer, said, "Results for the first quarter were in line with our expectations. The expansion of our revenue base and improvement in operating income are outcomes of significant investments HRM made during the last fiscal year. First quarter revenues compared to the fourth quarter were up more than $300,000, and net income was up $182,000, or $.05 per share. We expect revenues to continue to increase throughout fiscal 1993. We also introduced HRM's QualityFIRST(TM) healthcare practice guidelines software during the quarter and are pleased with the initial response to this product. The company is optimistic about continued demand for its managed care services in a health care reform environment."
 Headquartered in Minneapolis, Health Risk Management, Inc. provides a broad range of integrated managed health care services to self-insured employers, unions, governmental entities, HMOs, PPOs and insurance companies clients.
 HEALTH RISK MANAGEMENT, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (Unaudited; in thousands, except per share data)
 Three Months Ended Sept. 30,
 1992 1991
 Revenues:
 Care review, case management, (pct.) (pct.)
 and price control services $6,254 67.5 $4,729 89.5
 Claims administration services 2,869 30.9 438 8.3
 Information management and
 consulting services 149 1.6 115 2.2
 Total revenues 9,272 100.0 5,282 100.0
 Operating expenses:
 Cost of services 5,638 60.8 3,183 60.3
 Depreciation and amortization,
 principally cost of services 1,007 10.9 521 9.9
 Selling and marketing 1,299 14.0 836 15.8
 Administration 948 10.2 597 11.3
 Total operating expenses 8,892 95.9 5,137 97.3
 Operating income 380 4.1 145 2.7
 Other income (expense):
 Interest income 23 0.3 178 3.4
 Interest expense (99) (1.1) (66) (1.2)
 Total other income (expense) (76) (0.8) 112 2.1
 Income before income taxes 304 3.3 257 4.9
 Provision for income taxes 3 0.1 2 0.1
 Net income $301 3.2 $255 4.8
 Net income per common and
 common equivalent share $.08 -- $.07 --
 Weighted average common and
 common equivalent shares 3,892,082 -- 3,890,119 --
 BALANCE SHEET INFORMATION
 Sept. 30, June 30,
 1992 1991 1992
 Assets
 Cash and cash equivalents $2,270 $12,232 $4,125
 Other current assets 6,255 3,194 4,783
 Fixed assets, deferred contract
 costs and software, net 17,797 8,419 17,774
 Other assets 1,563 292 1,631
 -- $27,885 $24,137 $28,313
 Liabilities and shareholders equity
 Current liabilities $5,936 $3,682 $6,493
 Other liabilities 2,569 1,157 2,760
 Shareholders equity 19,380 19,298 19,060
 -- $27,885 $24,137 $28,313
 -0- 10/22/92
 /CONTACT: Nancy Hurd of Health Risk Management, 612-829-3749/
 (HRMI) CO: Health Risk Management, Inc. ST: Minnesota IN: MTC, INS SU: ERN


DS -- MN005 -- 3288 10/22/92 08:14 EDT
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Date:Oct 22, 1992
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