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STAR MULTI CARE SERVICES, INC. REPORTS RECORD REVENUES FOR FISCAL YEAR ENDED MAY 31, 1992

 STAR MULTI CARE SERVICES, INC. REPORTS RECORD REVENUES
 FOR FISCAL YEAR ENDED MAY 31, 1992
 NEW YORK, Sept. 15 /PRNewswire/ -- Star Multi Care Services, Inc. (NASDAQ: SMCS) today reported revenues for the fiscal year ended May 31, 1992 of a record $8,677,818, an increase of 24 percent over revenues for the prior year of $7,012,927. Net income for the most recent fiscal year was $102,836 versus net income of $123,166 in the prior year, without giving effect to a pro forma adjustment of approximately $400,000 to eliminate compensation in excess of $200,000 to Star's president for the prior year.
 According to Stephen Sternbach, president and chief executive officer of Star, New York State's budgetary constraints created tighter margins for the hospital staffing business, but "additional contracts and volume will keep that part of our operation profitable."
 Sternbach also noted that "home health care continues to grow and the acquisition of certain of the assets of Unity Care Services and its affiliates, in New York City, Florida and New Jersey has enabled us to significantly increase our revenues and expand our geographic presence. Furthermore, the Unity acquisition has brought Star into the Medicare market, adding a new source of reimbursement to our existing private and Medicaid services."
 Star Multi Care provides temporary health care personnel to hospitals and nursing homes and to patients in their homes throughout the New York and New Jersey metropolitan area and south Florida.
 -0- 9/15/92
 /CONTACT: Evelyn M. Relkin, Ph.D, chief operating officer of Star Multi Care Services, 718-488-7300, ext. 310/
 (SMCS) CO: Star Multi Care Services, Inc. ST: New York, New Jersey IN: HEA SU: ERN


TM-AH -- NY079 -- 9841 09/15/92 17:27 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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