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AMCARE PRE-TAX NET UP

 CINCINNATI, May 7 /PRNewswire/ -- Ambulatory Medical Care, Inc. (NASDAQ: AMED), an operator of urgent care offices under the tradename Doctors' Urgent Care Offices, announced increased pre-tax profits but decreased after tax profits for the third quarter ended March 31, 1993.
 Patient revenues were $2,064,200, management fees $1,688,490 and profits of $148,186, or $.12 per share. This compares to $1,579,737, $1,237,151, $192,196 or $.15 per share respectively for the same period last year. This decrease is explained importantly by the company's increased levels of income taxes. Taxes for the third quarter this year were $75,373 compared to last year's taxes of only $1,941. Profits before taxes this quarter were in fact above those last year, $223,559, as compared to last year's $194,137. These results have been reviewed by Deloitte & Touche because of the offer outlined below.
 A group of officers has made a proposal to the board of directors to take the company private. They have offered $5.50 cash per share for the approximately 40 percent, or around 425,000 shares, of the company they do not own. The board of directors has appointed a special committee comprised of all of the outside directors to consider the proposal. The committee has engaged independent counsel to represent them in their study of the proposal and has engaged The Ohio Company to evaluate the fairness of the offer to outside shareholders. A report to the shareholders will be made after the process has been completed.
 3 MONTHS ENDED 9 MONTHS ENDED
 March 31, March 31,
 1993 1992 1993 1992
 PATIENT REVENUES $2,064,200 $1,579,737 $6,088,114 $4,921,368
 MANAGEMENT FEES $1,688,490 $1,237,151 $4,932,502 $3,832,425
 INCOME BEFORE TAXES 223,559 194,137 734,082 611,510
 INCOME TAXES 75,373 1,941 264,267 6,115
 NET INCOME 148,186 192,196 469,815 605,395
 EARNINGS PER SHARE
 (Fully Diluted) $ .12 $ .15 $ .38 $ .49
 -0- 5/7/93
 /CONTACT: Jerry Decker of Ambulatory Medical Care, Inc., 513-831-5955/
 (AMED)


CO: Ambulatory Medical Care, Inc. ST: Ohio IN: HEA SU: ERN

AR -- CL008 -- 5859 05/07/93 10:29 EDT
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Publication:PR Newswire
Date:May 7, 1993
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