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UNITED MEDICAL REPORTS THIRD QUARTER RESULTS

 UNITED MEDICAL REPORTS THIRD QUARTER RESULTS
 HADDONFIELD, N.J., Oct. 26 /PRNewswire/ -- United Medical


Corporation's (AMEX: UM) revenue for the quarter ended Sept. 30, 1992, was $11,330,000 compared to $9,873,000 in 1991.
 Net income (loss) for the quarter was ($136,000) or ($.05) per share, vs. $56,000 or $.02 per share, a year ago.
 Revenue for the first nine months of 1992 was $34,463,000 vs. $31,370,000 in 1991. Income for the first nine months of 1992 was $204,000 or $.08 per share, vs. $778,000 or $.29 per share a year ago, before the cumulative effect of adopting Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes." The effective tax rate increased to 44 percent in 1992 from 12 percent in 1991, as the 1991 rate reflected the benefit of a net operating loss carryforward.
 The third quarter and year-to-date results include $852,000 in service revenue related to an increase in reimbursement rates for cardiac testing services. An estimated $582,000 of this amount relates to a retroactive increase for the first six months of 1992. In the third quarter, the company recorded a charge of $635,000 to provide for certain obsolete equipment. Taken together, the retroactive increase in reimbursement rates relating to prior quarters and the charge for obsolete equipment decreased net income before cumulative effect adjustment by approximately $30,000 or $.01 per share.
 Net income for the first nine months of 1992 was $1,029,000 or $.39 per share, vs. $778,000 or $.29 per share in 1991 on 2,632,000 shares and 2,724,000 shares, respectively. The 1992 results include a benefit of $825,000 or $.31 per share for the cumulative effect of adopting SFAS No. 109 in the first quarter.
 UNITED MEDICAL CORPORATION
 (Condensed Consolidated Statements of Income, Unaudited)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Total revenue $11,330,000 $9,873,000 $34,463,000 $31,370,000
 Pre-tax income
 before cumulative
 effect of change in
 accounting (216,000) 71,000 $366,000 882,000
 Income tax (80,000) 15,000 162,000 104,000
 Income before
 cumulative effect (136,000) 56,000 204,000 778,000
 Cumulative effect of
 change in accounting --- --- 825,000 ---
 Net income (136,000) 56,000 1,029,000 778,000
 Earnings per share:
 Income before
 cumulative effect $(.05) $.02 $.08 $.29
 Cumulative effect
 of change in accounting --- --- .31 ---
 Net income (.05) $.02 $.39 $.29
 Weighted aver. shares
 outstanding 2,595,000 2,708,000 2,632,000 2,724,000
 Consolidated Balance Sheet Information (Unaudited)
 Sept. 30, 1992 Dec. 31, 1991
 Current assets $25,731,000 $25,731,000
 Total assets 42,372,000 41,568,000
 Current liabilities 7,082,000 7,076,000
 Long-term debt 7,434,000 6,245,000
 Shareholders' equity 26,603,000 26,816,000
 Shareholders' equity
 per share (A) $10.27 $9.94
 (A) Based upon 2,590,000 and 2,697,000 common shares for 1992 and 1991, respectively.
 /delval/
 -0- 10/26/92
 /CONTACT: Deborah McKeever of United Medical, 609-354-2200/
 (UM) CO: United Medical Corporation ST: New Jersey IN: HEA SU: ERN


MJ-LJ -- PH013 -- 4699 10/26/92 10:53 EST
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Date:Oct 26, 1992
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