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SALICK HEALTH CARE ANNOUNCES RECORD FIRST QUARTER 1993 RESULTS; NET INCOME ROSE 62 PERCENT OVER YEAR-EARLIER QUARTER

 LOS ANGELES, Jan. 14 /PRNewswire/ -- Salick Health Care Inc. (NASDAQ: SHCI) today reported record revenues, operating income and net income for the first fiscal quarter ended Nov. 30, 1992.
 Net revenues for the first quarter 1993, ended Nov. 30, 1992, increased 30 percent to $27.0 million from $20.8 million a year ago. Operating income and net income advanced 33 percent and 62 percent to $3.4 million and $2.1 million, respectively, compared with $2.6 million and $1.3 million in the year earlier period. The company posted fully diluted earnings per share of $0.23 vs $0.21 in the first quarter of 1992 with 37 percent more shares outstanding.
 Dr. Bernard Salick, chairman and chief executive officer, said, "Continued growth at facilities in operation during last year's first quarter was primarily responsible for the increases in revenues, operating income, net income and earnings per share. Operating margins remained strong, increasing to 12.5 percent of net revenues."
 Salick Health Care is a leading provider of diagnosis and treatment to patients with catastrophic illness requiring sophisticated long-term care, principally in the areas of cancer, kidney failure, organ transplantation and other immunodeficient diseases. These services are provided at alternate sites including outpatient facilities and the patient's home.
 Salick currently operates nine Comprehensive Cancer Centers throughout the country which contribute 70 percent of total company revenues. It also operates eight outpatient dialysis centers and provides inpatient dialysis services at 21 hospitals. Through its recently established INFUSX subsidiary, Salick provides various infusion and related services in the patient's home and at specialized facilities for the treatment of complex chronic diseases.
 For information on Salick by fax, dial 800-PRO-INFO, ext. 131.
 SALICK HEALTH CARE INC.
 Consolidated Statements of Income
 (000s omitted, except per share data)
 (Unaudited)
 Three Months Ended
 Nov. 30,
 1992 1991
 Operating revenues, net $26,964 $20,801
 Operating income 3,380 2,550
 Income before income taxes 3,393 2,193
 Provision for income taxes 1,306 901
 Net income $2,087 $1,292
 Earnings per share:
 Primary $0.25 $0.23
 Fully diluted $0.23 $0.21
 Weighted average number of
 shares outstanding:
 Primary 8,507 5,715
 Fully diluted 10,395 7,567
 SALICK HEALTH CARE INC.
 Selected Balance Sheet Data
 (000s omitted, except ratios)
 (Unaudited)
 Nov. 30,
 1992 1991
 Cash and Marketable Securities $41,668 $21,203
 Total Assets 136,059 94,436
 Long-term Debt 28,345 30,427
 Capital Leases 5,232 4,926
 Stockholders' Equity 84,347 40,554
 Other Balance Sheet Data:
 Working Capital 57,519 27,524
 Current Ratio 4.2:1 2.5:1
 Long-term Debt/Equity 34 pct 75 pct
 -0- 1/14/93
 /CONTACT: Leslie Bell, CFO and executive VP of Salick Health Care, 213-966-3410; or John H. Shaw of The Financial Relations Board, 818-783-2400, for Salick Health Care/
 (SHCI)


CO: Salick Health Care Inc. ST: California IN: HEA SU: ERN

MS-JL -- LA025 -- 4895 01/14/93 12:49 EST
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Publication:PR Newswire
Date:Jan 14, 1993
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