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AMERICA SERVICE GROUP POSTS RECORD EARNINGS FOR 1991

 AMERICA SERVICE GROUP POSTS RECORD EARNINGS FOR 1991
 NEW CASTLE, Del., March 3 /PRNewswire/ -- America Service Group Inc.


(NASDAQ-NMS: ASGR) today reported income of $2,952,442 or 83 cents per share, before an extraordinary benefit for the year ended Dec. 31, 1991.
 This compares favorably to prior year earnings of $847,070 or 22 cents per share. For the quarters ended Dec. 31, 1991 and 1990, income was $867,128, or 25 cents per share, $447,509, or 12 cents per share, respectively, before an extraordinary benefit.
 For the year, revenues increased 35.1 percent to $60.2 million from $44.5 million last year. The rise in revenues can be attributed to fee increases for several contracts and the addition of several new contracts including the Kansas Department of Corrections in July 1991. Health care expenses increased 25.7 percent to $47.9 million for 1991 from $38.1 million for the prior year. As a percentage of revenues, expenses declined because of increased efficiencies and emphasis on expense management.
 "These record earnings and revenue marked an excellent year for the company. America Service Group was able to grow consistently throughout the year," said Jeffrey A. Reasons, president and chief executive officer. "This points out the ability of the company to manage the ongoing business effectively while experiencing rapid growth. Maintaining strong management and staff is the key to handling continued growth."
 America Service Group Inc. trades as "ASGR" on the NASDAQ National Market System. Through its primary subsidiary, Prison Health Services, Inc., the company contracts with state, county and local governmental agencies to provide comprehensive health care services to inmates of prisons and jails throughout the United States. Its 37 contracts cover more than 32,000 inmates located in 11 states.
 AMERICA SERVICE GROUP INC.
 Results of Operations
 (Unaudited; in thousands, except per-share amounts)
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Revenue $17,441 $12,218 $60,172 $44,540
 Health care expense 13,902 9,935 47,850 38,062
 Gross profit 3,539 2,283 12,322 6,478
 SG & A expense 2,242 1,605 7,917 5,364
 Income from operations 1,297 678 4,405 1,114
 Other income 140 109 498 360
 Income taxes (570) (37) (1,345) (60)
 Charge equivalent to
 benefit of loss
 carryforwards --- (303) (605) (567)
 Income before
 extraordinary item 867 447 2,953 847
 Extraordinary item:
 Tax benefit from NOL --- 303 605 567
 Net income 867 750 3,558 1,414
 EPS before
 extraordinary item $.25 $.12 $.83 $.22
 EPS after
 extraordinary item $.25 $.20 $1.00 $.37
 Common and common
 equivalent shares
 outstanding 3,472 3,725 3,558 3,867
 /delval/
 -0- 3/2/92
 /CONTACT: Margaret O. Harrison, chief financial officer of America Service Group, 302-888-0200/
 (ASGR) CO: America Service Group Inc. ST: Delaware IN: HEA SU: ERN


CC-MP -- PH004 -- 4321 03/03/92 08:47 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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