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PRIME MEDICAL REPORTS 85-PERCENT INCREASE IN QUARTERLY EARNINGS

 AUSTIN, Texas, Nov. 15 /PRNewswire/ -- Prime Medical Services, Inc. (NASDAQ: PMSI) announced today its results for the third quarter.
 Revenues for the third quarter totaled $5.9 million, compared with $5.4 million for the same period a year ago. Net income for the quarter increased by 85 percent to $1,092,000, or $0.08 per share, vs. $589,000 or $0.05 per share in 1992. The increase in revenues and net income was due primarily to the expanded lithotripter operations.
 For the nine months ended Sept. 30, 1993, revenue totaled $15.1 million, compared with $13.8 million for the same period in 1992. Net income increased by 58 percent to $1,924,000, or $0.16 per shae, from $1,219,000, or $0.12 per share in 1992.
 "We are pleased with the company's continued trend of strong earnings improvement," said Jackie C. Majors, president of Prime, "and look forward to continued improvement as a result of broadening our commitment in the lithotripsy field. We are particularly excited about the opportunities associated with our addition of the Tennessee-based lithotripsy operations and the pending completion of the previously announced acquisition of lithotripsy operations based in Pennsylvania, West Virginia and Indiana, which is expected to close by year-end.
 "During the last 12 months the attention of the management teams at both Prime and the Tennessee operations has primarily been focused on the registration and approval requirements of the Securities and Exchange Commission to complete the merger. Now that this process is behind us, we are focusing on expanding the customer base for our current lithotripsy operations, in addition to pursuing additional acquisitions."
 Prime Medical provides non-medical management services for lithotripsy, diagnostic imaging and cardiac rehabilitation centers. Prime maintains its headquarters in Austin.
 PRIME MEDICAL SERVICES, INC.
 SELECTED FINANCIAL DATA
 (In Thousands, except per share)
 FOR THE THREE FOR THE NINE
 MONTHS ENDED MONTHS ENDED
 SEPTEMBER 30, SEPTEMBER 30,
 ------------- -------------
 1993 1992 1993 1992
 ---- ---- ---- ----
 Revenues $ 5,916 $ 5,442 $15,149 $13,780
 Net Income $ 1,092 $ 589 $ 1,924 $ 1,219
 Net Income per share
 (Fully Diluted) $ .08 $ .05 $ .16 $ .12
 Weighted Average Shares 14,521 10,845 11,701 9,975
 -0- 11/15/93
 /CONTACT: Mr. Jackie Majors, president, 601-969-9193, or Ms. Cheryl McLeod, vice president - finance, 512-328-2892, both of Prime Medical Services, Inc./
 (PMSI)


CO: Prime Medical Services, Inc. ST: Texas IN: MTC SU: ERN

ML -- DE019 -- 4338 11/15/93 11:03 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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