Printer Friendly

HEALTHINFUSION, INC. ANNOUNCES RECORD THIRD QUARTER EARNINGS

 HEALTHINFUSION, INC. ANNOUNCES RECORD THIRD QUARTER EARNINGS
 MIAMI, Nov. 4 /PRNewswire/ -- HealthInfusion, Inc. (NASDAQ-NMS: HINF) today announced revenues for the quarter ended Sept. 30, 1992 of $13,307,258 or a 65 percent increase over the 1991 results for the same period. Income from operations for the quarter ended Sept. 30, 1992 was $3,096,844 or a 62 percent increase over the same period in 1991. Earnings per common share was $.17 for the quarter ended Sept. 30, 1992 compared to $.12 for the same period in 1991.
 Revenues for the nine months ended Sept. 30, 1992 were $37,206,657 or an increase of 87 percent over 1991 revenues for the same period. Income from operations for the first nine months of 1992 was $8,557,253 or an increase of 82 percent compared with the same period in 1991. Earnings per share for the nine months ended Sept. 30, 1992 was $.47 compared to $.36 for the same period. The company experienced an increase in the average number of outstanding shares of 31 percent during this period.
 Miles Gilman, president and CEO, commented, "During the third quarter, HealthInfusion continued the operational and strategic progress began during the first six months of 1992. In September we completed the acquisition of Naples Home Medical Services, Inc., a home infusion therapy provider, located in Naples, Fla. This acquisition allows the company to better service the Southwest coast of Florida. HealthInfusion remains committed to expansion through the acquisition of quality home infusion therapy providers in selected markets as well as through internal expansion."
 HealthInfusion is a national provider of home infusion therapy services and supplies to patients in their homes in 24 states from 26 regional facilities located in Arizona, California, Florida, Georgia, Illinois, Indiana, Maryland, New York, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania and Texas.
 HEALTHINFUSION, INC.
 FINANCIAL HIGHLIGHTS
 Results of Operations
 Three Months Nine Months
 Ended Sept. 30, Ended Sept. 30,
 1992 1991 1992 1991
 Revenues $13,307,258 $8,043,316 $37,206,657 $19,939,400
 Cost of
 revenues 7,715,522 4,511,793 21,638,248 10,974,829
 Operating
 profit 5,591,736 3,531,523 15,568,409 8,964,571
 Operating
 expenses 2,494,892 1,624,206 7,011,156 4,268,688
 Income from
 operations 3,096,844 1,907,317 8,557,253 4,695,883
 Other, net (235,848) (15,985) (556,562) (202,933)
 Income before
 income taxes
 and minority
 interest 2,860,996 1,891,332 8,000,691 4,492,950
 Provision for
 income taxes (1,178,819) (726,514) (3,162,128) (1,746,093)
 Income before
 minority
 interest 1,682,177 1,164,818 4,838,563 2,746,857
 Minority
 interest (49,610) (30,185) (247,434) (16,881)
 Net income $1,632,567 $1,134,633 $4,591,129 $2,729,976
 Net earnings
 per common
 share - fully
 diluted $.17 $.12 $.47 $.36
 Average number of
 shares
 outstanding 10,415,860 9,863,204 10,364,715 7,906,989
 Financial Condition
 Sept. 30, 1992 Dec. 31, 1991
 Cash and cash
 equivalents $1,429,951 $5,458,338
 Total current assets 25,053,335 21,093,015
 Total assets 62,545,933 41,477,112
 Current liabilities 10,456,811 3,024,477
 Long term debt 7,198,179 7,267,153
 Stockholders' equity $44,380,265 $30,754,974
 -0- 11/4/92
 /CONTACT: Miles Gilman, president and CEO of HealthInfusion, 305-267-1177/
 (HINF) CO: HealthInfusion, Inc. ST: Florida IN: HEA SU: ERN


AW-JB -- FL004 -- 2339 11/04/92 09:19 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 4, 1992
Words:602
Previous Article:RAMSAY HEALTH CARE ANNOUNCES FIRST QUARTER FISCAL 1993 RESULTS
Next Article:MICHAELS REPORTS RECORD OCTOBER AND THIRD QUARTER SALES WITH 19 PERCENT GAINS
Topics:


Related Articles
HEALTHINFUSION ANNOUNCES RECORD THIRD QUARTER EARNINGS
HEALTHINFUSION ANNOUNCES YEAR END RESULTS
HEALTHINFUSION, INC. ANNOUNCES COMPLETION OF THE PREVIOUSLY ANNOUNCED ACQUISITION OF TWO ARIZONA INFUSION COMPANIES
HEALTHINFUSION ANNOUNCES FIRST QUARTER RESULTS
HEALTHINFUSION ANNOUNCES RECORD SECOND QUARTER EARNINGS
HEALTHINFUSION, INC. ANNOUNCES YEAR END RESULTS
HEALTHINFUSION, INC. ANNOUNCES FIRST QUARTER RESULTS
HEALTHINFUSION ANNOUNCES SECOND QUARTER EARNINGS
HEALTHINFUSION, INC. ANNOUNCES NEW CREDIT FACILITY
Matria Healthcare Announces Write-Down Of Intangibles And Comments On Expected Financial Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters