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ALLIED CLINICAL LABS ANNOUNCES FOURTH QUARTER AND FULL YEAR 1992 RESULTS

 NASHVILLE, Tenn., Feb. 12 /PRNewswire/ -- Consistent with its preliminary press release dated Jan. 20, Allied Clinical Laboratories, Inc. (NASDAQ-NMS: ACLB) announced today that its earnings per common share for the fourth quarter of 1992 were $0.25, an increase of 25 percent above the $0.20 earned in the comparable quarter last year.
 Net revenues in the fourth quarter of 1993 were $32,582,000, an increase of 14 percent above the $28,687,000 reported for the same period last year. Net revenue comparisons for the fourth quarter and for the full year are more difficult because of the divestiture of Allied's Southern California region in November 1992. Net income for the fourth quarter was $2,028,000, an increase of 19 percent above the $1,711,000 reported for the fourth quarter of 1991.
 For the year ended Dec. 31, 1992, net revenues were $137,245,000, an increase of 34 percent above the $102,172,000 reported for the same period last year. Net income for the year ended Dec. 31, 1992 was $9,053,000, an increase of 31 percent above the $6,934,000 reported for net income before an extraordinary item for the same period last year. Earnings per common share were $1.10 for the year ended Dec. 31, 1992 after a $0.03 per share reserve for the disposition of certain California regional assets in the third quarter of 1992. This represents an increase of 28 percent above the $0.86 per common share before an extraordinary item reported for the year ended Dec. 31, 1991. Earnings per share before the $0.03 reserve for the disposition of certain California assets mentioned above were $1.13, or a 31.4 percent increase over 1991's $0.86.
 Allied provides testing services to physicians, hospitals, clinics and other health care providers through a national network of 10 regional laboratories, one of which serves as a reference laboratory and one of which serves as an anatomical testing laboratory. The company supports its regional laboratories through over 120 other service sites. Through its Contract Management Services Division, the company has contracted with approximately 60 hospitals and three multi-specialty clinic networks to provide a variety of management services for their on-site laboratories, including both clinical and anatomical testing as well as pathology consultation and laboratory direction.
 The company's common shares are traded in the over the counter National Market System under the NASDAQ symbol ACLB.
 ALLIED CLINICAL LABORATORIES, INC.
 Condensed Consolidated Income Statements
 (In thousands, except per share data)
 Quarterly Information Year-to-Date Information
 3 mos. ended Dec. 31 Year ended Dec. 31
 1992 1991 1992 1991
 Net revenues $32,582 $28,687 $137,245 $102,172
 Operating costs:
 Salaries, wages & benefits 10,190 9,256 42,007 32,192
 Supplies 5,480 5,060 22,487 17,611
 Depreciation & amortization 1,390 1,062 5,347 3,697
 Other operating costs 5,573 4,781 23,421 16,974
 Total operating costs 22,633 20,159 93,262 70,474
 Selling, general and
 administrative expenses 6,239 5,652 27,262 20,257
 Loss on disposition of
 regional assets --- --- 450 ---
 Operating income 3,710 2,876 16,271 11,441
 Interest expense/(income),
 net 408 79 1,453 84
 Income before provision for
 income taxes and extraord.
 item 3,302 2,797 14,818 11,357
 Provision for income taxes 1,274 1,086 5,765 4,423
 Income bef. extraord. item 2,028 1,711 9,053 6,934
 Extraord. loss on early
 extinguishment of debt
 (net of taxes) --- --- --- (278)
 Net income $ 2,028 $ 1,711 $ 9,053 $ 6,656
 Before extraord. item $0.25 $0.20 $1.10 $0.86
 Extraord. item $0.00 $0.00 $0.00 ($0.04)
 Net income $0.25 $0.20 $1.10 $0.82
 Wtd. avg. shares outstdg. 8,256 8,380 8,253 8,068
 -0- 2/12/93
 /CONTACT: Haywood D. Cochrane Jr., president and chief executive officer, or Gerard M. Hayden Jr., senior vice president and chief financial officer, 615-320-2283, both of Allied Clinical Labs, Inc./
 (ACLB)


CO: Allied Clinical Labs, Inc. ST: Tennessee IN: MTC SU: ERN

RA-BN -- AT006 -- 6245 02/12/93 15:27 EST
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Date:Feb 12, 1993
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