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COMMUNITY PSYCHIATRIC CENTERS PROJECTS FIRST QUARTER LOSS

 LAGUNA HILLS, Calif., March 19 /PRNewswire/ -- Community Psychiatric Centers (NYSE: CMY) today said that it expects to report a loss for the first quarter of fiscal 1993, ended Feb. 28. Despite continued improvement in admissions and patient days at the company's psychiatric facilities, the year-over-year increases have come in below budget and are not of sufficient magnitude to offset continued declines in net revenue per patient day and length of stay, start-up costs for the company's new Transitional Hospitals Corp. units, and higher operating costs incurred in the psychiatric division to regain market share and improve facility utilization.
 The company also said that it has intensified its ongoing review of its psychiatric facilities by senior operations management to formulate a plan of correction in response to the budget shortfalls in both patient census and revenue per day during the first two months of the quarter. This plan could include hospital closures and other cost-containment measures designed to return the company to profitability.
 CPC expects to report first quarter results on or about March 31. Earnings per share for the previous quarter totalled $0.03. The company earned $0.15 in the first quarter of fiscal 1992. CPC delivers psychiatric and long-term acute care services in 52 psychiatric and transitional health care facilities in the United States, Puerto Rico and the United Kingdom. The stock trades on the New York, Boston, Midwest and Pacific exchanges.
 -0- 3/19/93
 /CONTACT: Suzanne S. Hovdey of Community Psychiatric Centers, 714-831-1166/
 (CMY)


CO: Community Psychiatric Centers ST: California IN: HEA SU: ERP

JL-BP -- LA019 -- 8141 03/19/93 21:22 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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