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CRITICAL CARE AMERICA ANNOUNCES YEAR END EARNINGS

 CRITICAL CARE AMERICA ANNOUNCES YEAR END EARNINGS
 WESTBOROUGH, Mass., Feb. 4 /PRNewswire/ -- Critical Care America,


Inc. (NYSE: CRA) today reported sales and earnings for the year and the fourth quarter ended Dec. 31, 1991.
 Revenues for the year ended Dec. 31, 1991, were $233.3 million, an increase of 30 percent over the $179.2 million for 1990. Before merger and restructuring expenses relating to the mergers with Care Plus and TeamCare, net earnings increased approximately 56% and earnings per share were $1.23, up 41 percent from the prior year. Operating results for the year ended Dec. 31, 1991, include one-time charges aggregating $17.6 million for merger and restructuring expenses relating to the mergers with Care Plus and TeamCare which resulted in earnings of $13.3 million or 64 cents per share.
 Revenues for the fourth quarter were $65.5 million, an increase of 30 percent over the $50.3 million in the fourth quarter of 1990. Net income for the quarter was $8.3 million, an increase of 62 percent over the comparable period in 1990. Income per share was 37 cents for the quarter as compared to 27 cents for the fourth quarter in 1990.
 "We are extremely proud of our strong performance in 1991", stated Patrick S. Smith, president and chief executive officer. "Our strong revenue growth and solid operating margins are evidence of our unwavering commitment to meeting customers needs in the core infusion business."
 "We have successfully restructured the company and can now take advantage of our strong financial position to expand and develop new alternate-sites, broaden our scope of service and position ourselves as the health care delivery system of the future."
 Critical Care America's headquarters are located at 50 Washington St., Westborough, Mass. 01581. The company provides infusion therapies to patients in their homes across the United States. Infusion therapies involve the administration of nutrients, antibiotics and other drugs and fluids intravenously or through a feeding tube. The infusion therapies provided by the company include home parenteral nutrition therapy, home antibiotic therapy, home enteral nutrition therapy, chemotherapy, pain management therapy, hydration therapy and congestive heart failure therapy. The shares of the company's common stock are traded on the New York Stock Exchange under the symbol CRA.
 CRITICAL CARE AMERICA, INC.
 Consolidated Statements of Income
 Periods ended Dec. 31, 1991 and 1990
 (in thousands, except per share data)
 Fourth Quarter Full Year
 1991 1990 1991 1990
 Revenues $65,548 $50,347 $233,346 $179,153
 Cost of revenues 34,060 27,602 122,890 99,214
 Gross profit 31,488 22,745 110,456 79,939
 Gross margin 48.0 pct 45.2 pct 47.3 pct 44.6 pct
 Selling, general
 administrative expenses 13,408 10,895 49,920 40,708
 Provision for doubtful
 accounts 5,316 3,505 18,996 12,070
 Restructuring charge --- --- 17,600 ---
 Operating income 12,764 8,345 23,940 27,161
 Interest income,net 993 117 1,394 162
 Other income (expense) 2 12 (43) 17
 Income before income
 taxes 13,759 8,474 25,291 27,340
 Provision for income
 taxes 5,504 3,367 11,988 10,841
 Net income $8,255 $5,107 $13,303 $16,499
 Income per share:
 Primary $.37 $.27 $.65 $.87
 Fully diluted $.37 $.27 $.64 $.87
 Average shares outstanding:
 Primary 22,131 18,977 20,593 18,982
 Fully diluted 22,249 19,175 20,883 19,032
 ---
 Note: Prior period results have been restated to reflect the pooling-of-interest method of accounting for the merger of New England Critical Care, Inc. and Care Plus, Inc. effective Feb. 26, 1991, and TeamCare, Inc. effective Sept. 30, 1991.
 CRITICAL CARE AMERICA, INC.
 Consolidated Balance Sheets
 (In thousands)
 Dec. 31,
 1991 1990
 ASSETS
 Cash and temporary investments $ 90,985 $ 61,157
 Trade accounts receivable, net 74,735 67,882
 Other current assets 16,990 10,028
 Total current assets 182,710 139,067
 Property, plant and equipment, net 14,479 14,784
 Cost in excess of net assets
 acquired, net 35,172 21,394
 Net other assets 6,849 4,518
 Total assets $239,210 $179,763
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Total current liabilities $ 34,017 $ 21,506
 Other liabilities 3,346 6,266
 Convertible subordinated debentures --- 39,000
 Stockholders' equity 201,847 112,991
 Total liabilities & stockholders'
 equity $239,210 $179,763
 ---
 Note: Prior period results have been restated to reflect the pooling-of-interest method of accounting for the merger of New England Critical Care, Incorporated and Care Plus, Inc. effective Feb. 26, 1991, and TeamCare, Inc. effective Sept. 30, 1991.
 -0- 2/4/92
 /CONTACT: Patrick Smith or Bob L. Wood of Critical Care America, 508-836-3610/
 (CRA) CO: Critical Care America, Inc.; Care Plus, Inc. ST: Massachusetts IN: HEA SU: ERN


SH -- NE011 -- 6695 02/04/92 12:29 EST
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