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HEALTH RISK MANAGEMENT REPORTS STRONG REVENUE INCREASE FOR ITS SECOND QUARTER, FIRST HALF

 MINNEAPOLIS, Jan. 27 /PRNewswire/ -- Health Risk Management, Inc. (NASDAQ: HRMI) (HRM) today announced that revenues for its second quarter ended Dec. 31, were $10,247,000 (a 98 percent increase) compared to $5,187,000 a year ago, bringing revenue for the first half of the year to $19,519,000 (an 86 percent increase) versus $10,469,000 in the previous year's first half.
 HRM had net income of $488,000, or $.12 per share in the second quarter, compared to a net loss of $599,000, or $.15 per share, for the second quarter a year ago. For the first six months this fiscal year, HRM had net income of $789,000, or $.20 per share, compared to a loss of $344,000, or $.09 per share, for the same period last year.
 Operating incomes for the second quarter and the first half of the year were $610,000 (6.0 percent of revenue) and $990,000 (5.1 percent of revenue), respectively, compared to a $683,000 operating loss and a $538,000 operating loss for the second quarter and first half a year ago, respectively.
 "We are pleased with our second quarter results, which reflect continued growth in our core managed care business," said Gary T. McIlroy, M.D., chairman and chief executive officer of Health Risk Management, Inc. "Revenue and operating income in the second quarter exceeded first quarter results by approximately 10 percent and 60 percent, respectively."
 McIlroy continued, "The focus placed on effectively managing healthcare costs within a framework of quality care has increased the opportunities for our new QualityFIRST(TM) practice guidelines product. We are seeing strong demand from all of our targeted markets, including insurance companies, hospitals, HMOs and PPOs, and are accelerating our sales and marketing efforts to effectively respond."
 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.
 HEALTH RISK MANAGEMENT, INC.
 Consolidated Statements of Operations
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended Six Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenues:
 Care review, case
 management, and
 price control
 services $7,038 $4,520 $13,292 $9,249
 Claims administration
 services 2,767 422 5,636 860
 Information management
 and consulting services 442 245 591 360
 Total revenues 10,247 5,187 19,519 10,469
 Operating expenses:
 Cost of services 6,117 3,186 11,755 6,369
 Depreciation and
 amortization,
 principally cost
 of services 1,054 586 2,061 1,107
 Selling and marketing 1,425 809 2,724 1,645
 Administration 1,041 689 1,989 1,286
 Reorganization charge -- 600 -- 600
 Total operating expenses 9,637 5,870 18,529 11,007
 Operating income 610 (683) 990 (538)
 Other income (expense):
 Interest income 14 149 37 327
 Interest expense (93) (62) (192) (128)
 Total other income (expense)(79) 87 (155) 199
 Income (loss) before
 income taxes 531 (596) 835 (339)
 Provision for income taxes 43 3 46 5
 Net income (loss) $488 $(599) $789 $(344)
 Net income (loss) per common
 and common equivalent share $.12 $(.15) $.20 $(.09)
 Weighted average common
 and common equivalent
 shares 4,001,275 3,896,420 3,946,679 3,893,270
 BALANCE SHEET INFORMATION 12/31/92 9/30/92 6/30/92
 Assets
 Cash and cash equivalents $3,027 $2,270 $4,125
 Other current assets 6,331 6,255 4,783
 Fixed assets, contract rights,
 software, etc., net 17,598 17,797 17,774
 Other assets 1,948 1,563 1,631
 -- $28,904 $27,885 $28,313
 Liabilities and shareholders' equity
 Current liabilities 6,429 5,936 6,493
 Other liabilities 2,507 2,569 2,760
 Shareholders' equity $19,968 $19,380 $19,060
 -- $28,904 $27,885 $28,313
 -0- 1/27/93
 /CONTACT: Nancy Hurd, director, public relations of Health Risk Management, 612-829-3749/
 (HRMI)


CO: Health Risk Management, Inc. ST: Minnesota IN: INS HEA SU: ERN

AL -- MN002 -- 9431 01/27/93 08:04 EST
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Date:Jan 27, 1993
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