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MEDQUIST REPORTS RECORD QUARTERLY RESULTS

 GIBBSBORO, N.J., July 22 /PRNewswire/ -- MedQuist Inc. (NASDAQ: MEDQ) today announced record revenues and earnings for the second quarter and six months ended June 30, 1993.
 For the second quarter, revenues of $8.5 million were up 34 percent over last year's $6.3 million. Net earnings of $500,800 increased 34 percent compared to $374,500 in the 1992 quarter. Earnings per share were $0.16 on 3.1 million average common shares and equivalents outstanding vs. $0.14 on 2.6 million average common shares and equivalents in 1992.
 For the six month period, total revenues were $16.7 million compared to $12.7 million in 1992. Net earnings were $895,600 or $0.29 per share against $718,200 or $0.29 per share.
 Commenting on the results, MedQuist president and chief executive officer Richard J. Censits said, "Our record quarter reflects the strong performance of our expanded business and information service line."
 Since its initial public offering in May 1992, MedQuist has completed a number of strategic receivables management acquisitions, including the recently acquired Dallas-based company. The company has also divested a number of patient care service lines as part of its plan to become a national provider of business and information services to health care providers.
 Earlier this month the company completed the sale of its home health care service line and announced its intent to acquire an Atlanta-based receivables management firm.
 In other developments today, MedQuist reported it has signed a definitive agreement to divest its medical transport service line.
 MedQuist operates receivables management service facilities in Texas, Arizona, Louisiana, Ohio and New Jersey. Its revenue enhancement consulting division is based in Florida.
 MEDQUIST INC.
 Financial Highlights
 (Unaudited)
 Pct.
 Quarter ended June 30 1993 1992 Increase
 Total net revenues $8,484,130 $6,320,673 34.23
 Operating earnings 1,223,320 726,508 68.38
 Earnings before income taxes 863,356 632,017 36.60
 Net earnings 500,838 374,533 33.72
 Earnings per share $.16 $.14 14.29
 Weighted average common shares
 and common share equivalents 3,147,228 2,656,153 ---
 Pct.
 Six months ended June 30 1993 1992 Increase
 Total net revenues $16,687,259 $12,680,767 31.60
 Operating earnings 2,259,022 1,420,141 59.07
 Earnings before income taxes 1,544,109 1,211,487 27.46
 Net earnings 895,674 718,203 24.71
 Earnings per share $.29 $.29 ---
 Weighted average common shares
 and common share equivalents 3,139,027 2,461,164 ---
 /delval/
 -0- 7/22/93
 /CONTACT: Paul E. Weitzel Jr. (financial), vice president, corporate development and chief financial officer, ext. 403, or Patricia Freebern, vice president, corporate relations, ext. 406, both of MedQuist, 609-782-0300/
 (MEDQ)


CO: MedQuist Inc. ST: New Jersey IN: SU: ERN

MJ-JM -- PH007 -- 4442 07/22/93 10:41 EDT
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Date:Jul 22, 1993
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