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RAMSAY HEALTH CARE, INC. ANNOUNCES FISCAL 1992 AND FOURTH QUARTER RESULTS

 RAMSAY HEALTH CARE, INC. ANNOUNCES FISCAL 1992
 AND FOURTH QUARTER RESULTS
 NEW ORLEANS, Sept. 10 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced its operating results for its fiscal year and fourth quarter ended June 30, 1992.
 Income before extraordinary items was $1,946,000 or $0.25 per share for the 1992 fourth quarter compared to $3,058,000 or $0.58 per share for the comparable prior year quarter, and $5,347,000 or $0.68 per share for the 1992 fiscal year compared to $8,004,000 or $1.57 per share for the 1991 fiscal year. The 1992 fiscal year results include a non- recurring restructuring charge of $2,283,000, or $0.17 per share after applicable income taxes.
 Net income was $1,974,000, or $0.25 per share, and $5,934,000, or $0.75 per share, for the quarter and fiscal year ended June 30, 1992, respectively.
 Net revenues were $36,118,000 and $136,946,000 for the quarter and fiscal year ended June 30, 1992, respectively, compared to $36,070,000 and $132,739,000 in the comparable fiscal 1991 periods.
 Gregory H. Browne, chief executive officer, commented that "Fiscal 1992 was a difficult and disappointing year for Ramsay Health Care, Inc. and the entire psychiatric healthcare industry. Adverse publicity for the industry hampered the company's efforts in working with the managed care groups to provide quality psychiatric care at a reasonable cost.
 During fiscal 1992, the company opened two (2) new inpatient facilities. Both provided positive operating results for the year, an encouraging result considering the current climate in the industry.
 The expansion of the company's outpatient, day treatment and partial hospitalization programs continues to be a high priority as the company strives to meet the demands of the public and the managed care industry. In July 1992, the company opened freestanding psychiatric day hospitals in Hallandale, Fla. and Las Vegas. While these facilities represent a new concept, we believe that the development of such facilities will bring the company into the forefront of psychiatric health care delivery in the 1990s."
 Ramsay Health Care, Inc. operates 18 inpatient facilities in 13 states with a total of 1,558 beds, and is one of the largest providers of psychiatric care in the United States.
 RAMSAY HEALTH CARE, INC.
 FINANCIAL RESULTS
 Qtr. ended 6/30/92 Percent 6/30/91 Percent
 Net revenues $36,118,000 100.0 $36,070,000 100.0
 Operating expenses:
 Salaries, wages and
 benefits 15,183,000 42.0 14,342,000 39.8
 Other operating
 expenses 11,089,000 30.7 9,633,000 26.7
 Provision for
 doubtful accts. 2,550,000 7.1 2,384,000 6.6
 Depreciation and
 amortization 1,387,000 3.8 1,344,000 3.7
 Interest 2,303,000 6.4 3,451,000 9.6
 Restructuring chrgs. --- --- --- ---
 Total operating exp. 32,512,000 90.0 31,154,000 86.4
 Income before income
 taxes and
 extraordinary items 3,606,000 10.0 4,916,000 13.6
 Provision for income
 taxes 1,660,000 4.6 1,858,000 5.2
 Income before
 extraordinary items 1,946,000 5.4 3,058,000 8.4
 Extraordinary item --
 utilization of net
 operating loss
 carryovers 28,000 0.1 (14,000) ---
 Extraordinary item --
 loss from early
 extinguishment of
 debt --- --- --- ---
 Total 28,000 0.1 (14,000) ---
 Net income $ 1,974,000 5.5 $ 3,044,000 8.4
 Primary earnings
 per share:
 Before extraordinary
 items $ 0.25 $ 0.58
 Extraordinary items --- ---
 Total $ 0.25 $ 0.58
 Weighted avg. shares
 outstanding 7,956,000 5,258,000
 Fiscal year ended 6/30/92 Percent 6/30/91 Percent
 Net revenues $136,946,000 100.0 $132,739,000 100.0
 Operating expenses:
 Salaries, wages and
 benefits 60,626,000 44.3 55,524,000 41.8
 Other operating
 expenses 40,161,000 29.3 37,086,000 27.9
 Provision for
 doubtful accts. 8,628,000 6.3 6,992,000 5.3
 Depreciation and
 amortization 5,439,000 4.0 5,545,000 4.2
 Interest 10,488,000 7.6 14,462,000 10.9
 Restructuring chrgs. 2,283,000 1.7 --- ---
 Total oper. exps. 127,625,000 93.2 119,609,000 90.1
 Income before income
 taxes and
 extraordinary items 9,321,000 6.8 13,130,000 9.9
 Provision for income
 taxes 3,974,000 2.9 5,126,000 3.9
 Income before
 extraordinary items 5,347,000 3.9 8,004,000 6.0
 Extraordinary item --
 utilization of net
 operating loss
 carryovers 953,000 0.7 922,000 0.7
 Extraordinary item --
 loss from early
 extinguishment of
 debt (366,000) (0.3) --- ---
 Total 587,000 0.4 922,000 0.7
 Net income $ 5,934,000 4.3 $ 8,926,000 6.7
 Primary earnings
 per share:
 Before extraordinary
 items $ 0.68 $ 1.57
 Extraordinary items 0.07 0.18
 Total $ 0.75 $ 1.75
 Weighted avg. shares
 outstanding 7,886,000 5,091,000
 RAMSAY HEALTH CARE, INC.
 STATISTICS
 Qtr. ended 6/30/92 6/30/91 Pct. chg.
 Company:
 Number of facilities 18 16 ---
 Inpatient days 60,553 62,751 (3.5)
 Admissions 3,109 2,868 8.4
 Avg. length of stay
 (in days) 19.39 22.74 (14.7)
 Same store:
 Inpatient days 57,465 62,751 (8.4)
 Admissions 2,905 2,868 1.3
 Fiscal year ended 6/30/92 6/30/91 Pct. chg.
 Company:
 Number of facilities 18 16 ---
 Inpatient days 238,133 243,735 (2.3)
 Admissions 12,038 10,450 15.2
 Avg. length of stay
 (in days) 20.22 23.61 (14.4)
 Same store:
 Inpatient days 231,823 243,735 (4.9)
 Admissions 11,605 10,450 11.1
 -0- 9/10/92
 /CONTACT: Gregory H. Browne, president and chief executive officer of Ramsay Health Care, 504-525-2505/
 (RHCI) CO: Ramsay Health Care, Inc. ST: Louisiana IN: HEA SU: ERN


EA-BR -- AT002 -- 7817 09/10/92 08:02 EDT
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Date:Sep 10, 1992
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