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PEER REVIEW ANALYSIS, INC. REPORTS FIRST QUARTER RESULTS

 PEER REVIEW ANALYSIS, INC. REPORTS FIRST QUARTER RESULTS
 MALDEN, Mass., May 6 /PRNewswire/ -- Peer Review Analysis, Inc. (NASDAQ-NMS: PRAI), a leading provider of managed health care review services, today announced financial results for the first quarter ended March 31, 1992. Revenue for the quarter increased 19 percent to $2.36 million compared with $1.99 million for the same quarter prior year. A net loss of $21,000 or $0.007 per share was reported vs. net income of $154,800 or $0.10 per share in the first quarter of 1991.
 In line with previously announced expectations, Eric R. Spitzer, president and chief executive officer commented that the first quarter was negatively affected by start-up expenses incurred in anticipation of addition of new clients, which began review at lower and slower levels than anticipated. Additionally, noted Spitzer, sales of PRA's Auto-PREP(tm) software have been slowed as purchase decisions have been pushed to a longer timeframe.
 Despite a lower-than-expected first quarter, revenue continues to increase and the company is bringing on new accounts. "As revenue builds we are well positioned to achieve our business and financial objectives," said Spitzer.
 Founded in 1984, PRA provides a wide range of managed health care services designed to assure quality and appropriateness of medical treatment at the most reasonable cost based on its Physician-Intensive Cooperative Care Approach. PRA's services are a component of the health care programs of more than 8 million people nationwide. Its clients include major commercial health insurance companies, HMOs, third-party health care administrators and employer groups.
 PEER REVIEW ANALYSIS, INC.
 Financial Summary
 Quarter Ended March 31,
 1992 1991
 Revenues $2,356,129 $1,986,286
 Income (loss) before income
 taxes and extraordinary item (20,869) 162,821
 Provision for income taxes --- 49,000
 Income (loss) before
 extraordinary item (20,869) 113,821
 Extraordinary item - benefit
 of federal income tax
 loss carryforward --- 41,000
 Net income (loss) $(20,869) $154,821
 Earnings (loss per common share:
 Income (loss) before
 extraordinary item $(0.007) $0.074
 Extraordinary item --- 0.026
 Net income (loss) $(0.007) $0.100
 Weighted average number of
 common shares and equivalents
 outstanding 2,868,000 1,548,000
 -0- 5/6/92
 /CONTACT: Eric R. Spitzer, president and CEO of Peer Review Analysis, 617-322-6400/
 (PRAI) CO: Peer Review Analysis, Inc. ST: Massachusetts IN: HEA CPR SU: ERN


TM -- NE010 -- 7221 05/06/92 15:24 EDT
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Publication:PR Newswire
Date:May 6, 1992
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