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AMERIHEALTH, INC. REPORTS FIRST QUARTER RESULTS

 ATLANTA, April 26 /PRNewswire/ -- AmeriHealth, Inc. (AMEX: AHH), the Atlanta-based hospital management company, today reported net income of $1,848,000 on total revenues of $12,280,000 for the first quarter ended March 31, compared to net income of $1,009,000 on total revenues of $11,764,000 for the comparable quarter in 1992.
 Operating results for the first quarter of 1993 include a benefit of $1,298,000 from the cumulative effect of a change in accounting for income taxes. Operating results for the first quarter of 1992 included a benefit of $364,000 from the carryforward of operating losses.
 On a per share basis, after deducting dividend and accretion requirements for holders of the company's Series B Preferred Stock, the company reported net income of $.13 per common share for the first quarter of 1993 compared to net income of $.14 per common share for the first quarter of 1992. After giving effect to the full dilution with respect to the company's Series B Preferred Stock, the company reported net income of $.10 per share for the first quarter of 1993 compared to net income of $.05 per share for the first quarter of 1992. The company's common and common equivalent shares outstanding increased to 13,491,675 at March 31 from 5,854,774 at March 31, 1992, primarily as a result of the conversion of Series B Preferred Stock to common stock.
 William G. White, chairman and CEO of AmeriHealth, commenting on the first quarter financial results, said: "Our operating performance in the first quarter represents a continuing improvement in profitability of the company, although the quarter was adversely affected by start-up costs of our home infusion therapy business. Overall, we continue to experience improvement in operations and are enthusiastic about the prospects for continuing satisfactory operating performance throughout the year."
 Founded in 1983, AmeriHealth, Inc. now owns, manages or provides consulting services to 10 hospitals and other health care facilities in Alabama, Florida, Georgia, Pennsylvania, Texas and Virginia.
 AMERIHEALTH, INC. SELECTED FINANCIAL DATA
 (In thousands, except per share data)
 3 mos. ended March 31 1993 1992
 Net operating revenues $12,280 $11,764
 Income before income tax, cumulative effect
 of a change in accounting for income taxes
 and extraordinary credit 904 1,060
 Provision for income taxes 354 415
 Income before cumulative effect of a change
 in accounting for income taxes and
 extraordinary credit 550 645
 Cumulative effect of a change in accounting
 for income taxes 1,298 ---
 Extraordinary credit -- Income tax benefit
 arising from carryforward of operating
 losses --- 364
 Net income $ 1,848 $ 1,009
 Net income $ 1,848 $ 1,009
 Series B Preferred Stock dividend
 requirement (88) (196)
 Accretion of Series B Preferred Stock
 redemption requirement --- (19)
 Net income applicable to common stock $ 1,760 $ 794
 Income per common share:
 Income before cumulative effect and
 extraordinary credit $ .03 $ .08
 Cumulative effect of a change in accounting
 for income taxes .10 ---
 Extraordinary credit --- .06
 Net income $ .13 $ .14
 Income per common share assuming full dilution:
 Income before cumulative effect and
 extraordinary credit $ .03 $ .03
 Cumulative effect of a change in accounting
 for income taxes .07 ---
 Extraordinary credit --- .02
 Net income assuming full dilution $ .10 $ .05
 -0- 4/26/93
 /CONTACT: William G. White or Kenneth D. Hawkins of AmeriHealth, 404-953-9600/
 (AHH)


CO: AmeriHealth, Inc. ST: Georgia IN: HEA SU: ERN

CF-BN -- AT024 -- 0906 04/26/93 16:03 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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