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COMPREHENSIVE CARE CORP. REPORTS SECOND QUARTER RESULTS

 ST. LOUIS, Jan. 13 /PRNewswire/ -- Comprehensive Care Corporation (NYSE: CMP) today reported a loss for the second quarter of fiscal 1994 of $1,163,000, or $0.05 per common share, compared to net earnings of $8,932,000, or $0.41 per common share, for the same period a year ago.
 Richard C. Peters, president and chief executive officer said, "The second quarter continued to reflect the company's efforts to reduce overall operating losses. The prior year included a gain on sale of its remaining interests in its former subsidiary RehabCare Corporation of $13,114,000 as well as a gain of $584,000 from a lawsuit settlement. Without the non-recurring gains the results for the second quarter of fiscal 1993 would have been a loss of $4,766,000. Additionally, the first quarter of fiscal 1994 included a credit of $345,000 in non-recurring expenses for a revaluation of a compensation accrual. Without this benefit the first quarter fiscal 1994 loss would have been $1,686,000.
 "Operating revenues have declined substantially from the prior year as a result of the closure of four freestanding facilities and the sale of a fifth during the fourth quarter of fiscal 1993."
 Comprehensive Care Corporation is a one source national leader in providing a full range of cost effective behavioral medicine services, including managed care.
 COMPREHENSIVE CARE CORPORATION
 For the Three Months Ended Nov. 30, 1993
 Supplemental Information
 (Unaudited)
 (Dollars in thousands, except per share amounts)
 For the periods Three Months Six Months
 ended Nov. 30, 1993 1992 1993 1992
 Revenues and gains:
 Operating revenues $8,229 $14,458 $16,942 $30,691
 Gain on sale
 of RehabCare stock -- 13,114 -- 13,114
 Interest income 5 25 10 41
 Equity in earnings
 of unconsolidated
 affiliates -- -- -- 384
 Other -- 584 -- 960
 Total 8,234 28,181 16,952 45,190
 Costs and expenses:
 Operating expenses 7,723 14,313 15,332 27,405
 General and
 administrative
 expenses 866 1,291 2,063 1,785
 Provision for
 doubtful accounts 63 2,364 774 4,131
 Depreciation and
 amortization 383 717 886 1,464
 Interest expense 300 504 639 1,168
 Loss on writedown
 of assets -- -- -- 2,940
 Other restructuring/
 non-recurring expenses -- -- (345) 6,682
 Total 9,335 19,189 19,349 45,575
 Earnings (loss) before
 income taxes (1,101) 8,992 (2,397) (385)
 Provision for income
 taxes 62 60 107 120
 Net earnings (loss) $(1,163) $8,932 $(2,504) $(505)
 Earnings (loss) per
 share:
 Net earnings (loss) $(0.05) $0.41 $(0.11) $(0.02)
 COMPREHENSIVE CARE CORPORATION
 For the Three Months Ended Nov. 30, 1993
 Supplemental Information
 Three months ended 11-30-93 8-31-93 5-31-93
 Facility Inventory
 Psychiatric/Chemical dependency
 treatment facilities 6 6 6
 Behavioral medicine contracts 14 16 17
 Publications 1 1 1
 Total 21 23 24
 Three months ended 11-30-93 8-31-93 5-31-93
 Patient days:
 Freestanding facilities 9,897 9,587 11,256
 Behavioral medicine contracts 8,905 10,050 10,475
 Freestanding facilities:
 Occupancy rate 31% 30% 23%
 Admissions 996 954 1,110
 Average length of stay (days) 10 10 13
 Behavioral medicine contracts:
 Average occupied beds per contract 7 7 7
 Admissions 1,015 1,132 1,089
 Average length of stay (days) 9 9 11
 Total beds available at end of period:
 Freestanding facilities 347 347 385
 Behavioral medicine contracts 264 309 306
 -0- 1/13/94
 /CONTACT: Fred C. Follmer, chief financial officer, or Kerri Ruppert, chief accounting officer, 314-537-1288, both of Comprehensive Care Corporation/
 (CMP)


CO: Comprehensive Care Corporation ST: Missouri IN: HEA SU: ERN

SH-TW -- NY023 -- 1761 01/13/94 10:26 EST
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Date:Jan 13, 1994
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