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RX MEDICAL SERVICES CORP. (RXM) REPORTS RECORD REVENUES AND EARNINGS IN SECOND QUARTER OF 1992

 RX MEDICAL SERVICES CORP. (RXM) REPORTS RECORD REVENUES
 AND EARNINGS IN SECOND QUARTER OF 1992
 NEWPORT BEACH, Calif., Aug. 13 /PRNewswire/ -- Rx Medical Services Corp. (AMEX: RXM) announced today that revenues for its June 30, 1992, second quarter increased to $3,923,404; 554 percent of the $708,196 revenue reported for the 1991 second quarter. Net income for the second quarter of 1992 increased to $210,924; 173 percent of the $121,812 reported for the 1991 second quarter and 196 percent of the 1992 first quarter net income of $107,621. Earnings per share for the 1992 second quarter approximately doubled over the 1992 first quarter results to $.02 per share from $.01 per share. This is the company's second consecutive quarterly increase in profits following its 1991 start-up year. The company also noted in its quarterly filing that it anticipates closing three additional laboratory acquisitions during the balance of the third quarter of 1992.
 For the six month period ended June 30, 1992, revenues reported were $7,773,453; 575 percent of the $1,352,783 reported for the comparable period in 1991. Net income for the first six months was $318,545; 292 percent of the $108,988 reported for the comparable period in 1991. Earnings per share for the six-month period more than doubled to $.04 from $.02 for the comparable period in 1991. Its recent acquisitions of a laboratory and an imaging center in California had minimal impact on the results as the laboratory was acquired in June, and the imaging center in July 1992. These acquisitions bring to 16 the total number of medical industry facilities acquired by the company, 13 of which have been within the last 12 months. The company indicated it intends to continue to expand its acquisition program of clinical laboratories and of MRI/CT scanning/imaging centers. The company also noted it anticipates completing a private placement of up to $4.5 million during the third quarter to be used for payable and debt reduction and to fund additional facility acquisitions. With its recent acquisitions, RXM revenue now exceeds $21.5 million on an annualized basis vs. its $2.6 million of revenue in 1991.
 RX MEDICAL SERVICES CORP.(A)
 Quarter Ended June 30,
 1992 1991
 Revenues $3,923,404 $708,196
 Net income 210,924 121,812
 Average shares 8,818,909 6,583,150
 Share earnings:
 Net income .02 .02
 Six Months Ended June 30,
 1992 1991
 Revenues 7,773,453 1,352,783
 Net income: 318,545 108,988
 Average shares: 8,765,409 6,207,400
 Share earnings:
 Net Income .04 .02
 -0- 8/13/92
 /CONTACT: Maurice Levy or Rx Medical Services, 714-474-3000/
 (RXM) CO: Rx Medical Services Corp. ST: California IN: MTC SU: ERN


JB-AL -- LA030 -- 9718 08/13/92 14:28 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
Words:471
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