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UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES NET INCOME INCREASE OF 6 PERCENT FOR SECOND QUARTER AND 11 PERCENT FOR FIRST HALF

 KING OF PRUSSIA, Pa., July 21 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its net income for the three-month period ended June 30, 1993, was $6.5 million, an increase of 6 percent from the same period in 1992.
 Earnings per share for the 1993 quarter were $.46, a 7 percent increase from the $.43 recorded in the same period in 1992. Net revenues in the quarter increased 7 percent to $187.5 million.
 For the six-month period ended June 30, 1993, net income was $15.1 million, an increase of 11 percent from the six-month period in 1992. Earnings per share for the six months ended June 30, 1993, were $1.06, an increase of 12 percent from the $.95 recorded for the prior year's six-month period. Net revenues for the 1993 six-month period were $382.8 million, an increase from $376.5 million in the 1992 period.
 The company continues to experience rapid growth in its outpatient businesses. Outpatient revenues in the second quarter of 1993 were 22 percent greater than in the second quarter of 1992 and now account for 23 percent of total gross revenues. The company's psychiatric hospitals also continue to record rapid growth in admissions. While psychiatric patient days were 4 percent lower, admissions were 22 percent higher in the second quarter of 1993 than in the same period of 1992. On June 30, 1993, the company acquired its sixth free standing ambulatory surgery center. Annualized revenues from the centers are approximately $10 million.
 Universal Health Services is a hospital management company which owns and operates 15 acute care, 13 psychiatric hospitals and nine ambulatory surgery and radiation therapy centers nationwide. It acts as the advisor to Universal Health Realty Income Trust (NYSE: UHT), a Real Estate Investment Trust.
 UNIVERSAL HEALTH SERVICES, INC.
 Consolidated Statements of Income
 (Unaudited; in thousands except per-share amounts)
 Periods ended Three months Six months
 June 30 1993 1992 1993 1992
 Net revenues $187,453 $174,428 $382,758 $376,477
 Operating charges:
 Operating expenses 157,944 144,518 320,017 293,175
 Depreciation and
 amortization 9,196 8,831 18,327 30,732
 Lease and rental expense 8,480 8,051 16,826 16,566
 Interest expense 2,098 2,981 4,733 5,983
 Total 177,718 164,381 359,903 346,456
 Income before income taxes 9,735 10,047 22,855 30,021
 Provision for income taxes 3,257 3,927 7,766 16,458
 Net income 6,478 6,120 15,089 13,563
 Earnings per common and
 common equivalent share $.46 $.43 $1.06 $.95
 Average number of common
 shares and equivalents 14,862 15,031 14,875 15,020
 Note: The earnings per share have been adjusted to reflect the assumed conversion of the company's convertible debentures.
 /delval/
 -0- 7/21/93
 /CONTACT: Kirk E. Gorman, chief financial officer of Universal Health Services, 215-768-3300/
 (UHS UHT)


CO: Universal Health Services, Inc. ST: Pennsylvania IN: HEA SU: ERN

MP-SF -- PH017 -- 3873 07/21/93 10:49 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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