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DIAGNOSTEK ANNOUNCES FINANCIAL RESULTS

 DIAGNOSTEK ANNOUNCES FINANCIAL RESULTS
 ALBUQUERQUE, N.M., Jan. 29 /PRNewswire/ -- Diagnostek, Inc.,


(NYSE: DXK) announced today its financial results for the quarter ended Dec. 31, 1991, the third quarter of its current fiscal year. For the three month period ended Dec. 31, 1991, the company earned $3,585,000, or $.17 per share, on revenues of $73,510,000. Net earnings for the quarter ended Sept. 30, 1991 increased 607 percent over net earnings for the same period of 1990 of $507,000. Earnings per share for the current period increased by 467 percent over the same period of 1990 of $.03 per share as shares of common stock outstanding increased from 19,936,000 in 1990 to 21,366,000 for 1991. Revenues for the current period increased 21 percent over the same period of 1990 of $60,812,000.
 The significant improvement in financial performance from year to year was primarily attributable to the performance of Health Care Services, Inc. (HCS), the company's mail service prescription drug operation. HCS revenues for the quarter ended Dec. 31, 1991, of $51.7 million increased 20 percent over revenues for the comparable 1990 quarter of $43.1 million. HCS operating income for the 1991 quarter of $4.5 million increased 29 percent over operating income for the 1990 quarter of $3.5 million.
 Net earnings of the prior fiscal year included a charge of $1.4 million net of tax, or $2.3 million pre-tax, which was recorded in the quarter ended Dec. 31, 1990. Such charge related to a detailed review of its contract pharmacy management operations.
 For the nine months ended Dec. 31, 1991, Diagnostek had net earnings of $9,007,000, or $.44 per share on revenues of $213,453,000. Compared to the same period of the prior fiscal year, net earnings have increased 90 percent from $4,733,000, earnings per share have increased 83 percent from $.24 and revenues have increased 33 percent from $160,951,000. Average common shares for the nine-month period increased from 19,746,000 in 1990 to 20,695,000 in 1991.
 Nunzio P. DeSantis, chairman of the board and chief executive officer, stated, "We are extremely pleased with the financial results of our operations. The public equity offering completed in December 1990 whereby the company raised approximately $87.5 million on approximately four million common shares has positioned the company to carry on the growth trends we have experienced in the past.
 -0- 1/29/92
 /CONTACT: Dennis Evans or Vince Villanueva both of Diagnostek, 505-345-8080, or Julius Golden of Group West, 505-883-6940/
 (DXK) CO: Diagnostek Inc. ST: New Mexico IN: MTC SU: ERN


SH -- NY033 -- 4671 01/29/92 11:04 EST
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Date:Jan 29, 1992
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