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RAMSAY HEALTH CARE, INC. ANNOUNCES SECOND QUARTER RESULTS

 NEW ORLEANS, Feb. 2 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced operating results for the quarter and the six months ended Dec. 31, 1992.
 Net revenues were $31.3 million for the quarter ended Dec. 31, 1992, as compared with $33.9 million for the previous year, representing an 8 percent decrease. This decrease was caused by declining reimbursement for inpatient stays at the company's 18 hospitals.
 Revenues for the six months ended Dec. 31, 1992, were $62.7 million as against $65.3 million for the previous year, representing a 4 percent decrease.
 Income before extraordinary items was $315,000 or $0.04 per share for the quarter ended Dec. 31, 1992, compared to $413,000 or $0.05 per share for the comparable prior-year quarter, and $486,000 or $0.06 per share for the six months ended Dec. 31, 1992, as against $1,416,000 or $0.18 per share for the comparable six month period in the previous year.
 Net income was $467,000 or $0.06 per share for the quarter ended Dec. 31, 1992, compared to $59,000 or $0.01 per share for the comparable prior-year quarter and $715,000 or $0.09 per share for the six monthutive Office r, commented, "While admissions have shown solid increases at most facilities, reductions in the average length of stay, when combined with declining reimbursement levels, have led to a fall in net inpatient revenue which has not yet been offset by the growth in outpatient revenue. The company continues to work at reducing its cost levels and has seen some progress in this area, although there is further work to be done in bringing costs to the appropriate levels."
 Ramsay Health Care, Inc., one of the largest providers of psychiatric care in the United States, operates 18 inpatient facilities in 12 states with a total of 1,586 beds, as well as three free-standing day treatment facilities.
 RAMSAY HEALTH CARE, INC.
 Unaudited Financial Results
 Qtr. ended Dec. 31 1992 1991
 $ Pct. $ Pct.
 Net revenues 31,281,000 100.00 33,925,000 100.00
 Operating expenses:
 Salaries, wages and benefits 15,361,000 49.11 15,640,000 46.10
 Other operating expenses 9,200,000 29.41 9,295,000 27.40
 Provision for doubtful accts. 2,198,000 7.03 2,073,000 6.11
 Depreciation and amortization 1,590,000 5.08 1,301,000 3.83
 Interest 2,388,000 7.63 2,590,000 7.63
 Loss on closure of hospital --- 0.00 --- 0.00
 Restructuring charges --- 0.00 2,283,000 6.73
 Total operating expenses 30,737,000 98.26 33,182,000 97.81
 Income before income taxes
 and extraord. items 544,000 1.74 743,000 2.19
 Provision for income taxes 229,000 0.73 330,000 0.97
 Income before extraord. items 315,000 1.01 413,000 1.22
 Extraord. item -- utilization
 of net operating loss
 carryovers 152,000 0.49 43,000 0.13
 Extraord. item -- loss from
 early extinguishment of debt --- 0.00 (397,000)
 Total 152,000 0.49 (354,000) 0.13
 Net income 467,000 1.49 59,000 0.17
 Primary earnings per share
 Before extraord. items $0.04 $0.05
 Extraord. items 0.02 (0.04)
 Total $0.06 $0.01
 Weighted avg. shares outst. 7,885,000 8,153,000
 6 mos. ended Dec. 31 1992 1991
 $ Pct. $ Pct.
 Net revenues 62,694,000 100.00 65,323,000 100.00
 Operating expenses:
 Salaries, wages and benefits 29,804,000 47.54 29,730,000 45.51
 Other operating expenses 19,038,000 30.37 18,572,000 28.43
 Provision for doubtful accts. 4,063,000 6.48 3,757,000 5.75
 Depreciation and amortization 3,105,000 4.95 2,653,000 4.06
 Interest 4,737,000 7.56 5,928,000 9.07
 Loss on closure of hospital 1,109,000 1.77 --- 0.00
 Restructuring charges --- 0.00 2,283,000 3.49
 Total operating expenses 61,856,000 98.66 62,923,000 96.33
 Income before income taxes
 and extraord. items 838,000 1.34 2,400,000 3.67
 Provision for income taxes 352,000 0.56 984,000 1.51
 Income before extraord. items 486,000 0.78 1,416,000 2.17
 Extraord. item -- utilization
 of net operating loss
 carryovers 229,000 0.37 553,000 0.85
 Extraord. item -- loss from
 early extinguishment of debt --- 0.00 (397,000) (0.61)
 Total 229,000 0.37 156,000 0.24
 Net income 715,000 1.14 1,572,000 2.41
 Primary earnings per share
 Before extraord. items $0.06 $0.18
 Extraord. items 0.03 0.02
 Total $0.09 $0.20
 Weighted avg. shares outst. 7,889,000 7,760,000
 RAMSAY HEALTH CARE, INC.
 Period Ending Period Ending Percent
 Quarterly Data 12/31/92 12/31/91 change
 Company
 Admissions 3,105 2,776 11.9
 Patient Days 57,999 59,714 (2.9)
 Gross Outpatient Revenue ($) 3,831,000 1,262,000 203.6
 Same Store
 Admissions 2,947 2,687 9.7
 Patient Days 54,649 57,019 (4.2)
 Gross Outpatient Revenue ($) 2,862,000 1,098,000 160.7
 Average length of stay 18.62 21.13 (11.9)
 Six Month Data
 Company
 Admissions 6,148 5,527 11.2
 Patient Days 109,660 114,050 (3.8)
 Gross Outpatient Revenue ($) 7,076,000 2,343,000 202.0
 Same Store
 Admissions 5,763 5,368 7.4
 Patient Days 103,093 109,371 (5.7)
 Gross Outpatient Revenue ($) 5,641,000 2,179,000 158.9
 Average length of stay 18.35 21.18 (13.4)
 -0- 2/2/93
 /CONTACT: Gregory H. Browne, President and Chief Executive Officer of Ramsay Health Care, Inc., 504-525-2505/
 (RHCI)


CO: Ramsay Health Care, Inc. ST: Louisiana IN: HEA SU: ERN

BN-BR -- AT008 -- 1763 02/02/93 10:41 EST
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