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SIERRA TUCSON COMPANIES INC. ANNOUNCES UNAUDITED FIRST QUARTER RESULTS

 TUCSON, Ariz., April 22 /PRNewswire/ -- Sierra Tucson Companies Inc. (NASDAQ: STSN), today announced its unaudited results of operations for the first quarter ended March 31, 1993.
 Total revenues for the quarter ended March 31, 1993, decreased $5,012,283 to $6,846,450, or 42 percent less than the corresponding quarter of 1992. This decline in revenues was substantially offset by a decrease in expenses, $3,245,208, or 32 percent compared to the corresponding quarter. Net income for the quarter decreased $1,024,374 to $51,269, or 95 percent less than the corresponding quarter of 1992. Earnings per share decreased $.12 to $.01, or 92 percent less than the corresponding quarter of 1992; however, earnings increased $.02 compared to the previous quarter.
 The decline in earnings for this quarter compared to the corresponding quarter of 1992 was the result of several key factors. These included the decreased utilization of services at the Arizona facility and losses incurred at the adolescent center.
 John H. Schmitz, president and chief operating officer, said, "The company has instituted a number of changes in the manner in which it provides treatment for mental health and addictive disorders. These changes are designed to enhance delivery of the highest quality patient care. They include patient-centered programs based on flexible treatment planning, multiple access to a variety of treatment services and improved continuity of care.
 "We believe that these implemented changes will position us well in our segment of the healthcare industry and improve marketability to the payor community."
 SIERRA TUCSON COMPANIES INC.
 Unaudited Statement of Results
 Consolidated
 March 31, 1993
 Three Months Ended
 March 31, 1993 March 31, 1992
 (Unaudited) (Unaudited)
 Gross revenues $7,555,836 $12,856,537
 Net revenue 6,846,450 11,858,733
 Income before taxes 67,459 1,834,534
 Net income 51,269 1,075,643
 Earnings per share 0.01 0.13
 W.A. common equivalents 8,496,886 8,491,876
 -0- 4/22/93
 /CONTACT: John H. Schmitz, president and COO, or Jim Rianoshek, Investor Relations, of Sierra Tucson, 602-792-5800/
 (STSN)


CO: Sierra Tucson Companies Inc. ST: Arizona IN: HEA SU: ERN

JB-EH -- LA019 -- 9437 04/22/93 12:20 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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