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GREENERY REHABILITATION GROUP ANNOUNCES NET INCOME FOR THE QUARTER ENDED MARCH 31, 1992

 GREENERY REHABILITATION GROUP ANNOUNCES NET INCOME FOR THE
 QUARTER ENDED MARCH 31, 1992
 NEWTON, Mass., May 12 /PRNewswire/ -- Greenery Rehabilitation Group, Inc. (NYSE: GRG) today announced its earnings for the quarter and six-month period ended March 31, 1992, as compared to the earnings for the same periods ended March 31, 1991.
 Net income for the quarter ended March 31, 1991, included an after-tax gain of $485,000 from early retirement of debt. Net income for the six months ended March 31, 1991, included $865,000 write off of GRGs equity investment in Healthcare International, Inc. (AMEX: HII), which was a pass through of HIIs loss to the extent of GRGs equity investment in that company. GRG continues to hold a $9 million loan receivable from HII which is being paid on a current basis.
 Commenting on this quarter's results, George Ferencik, president of GRG, issued the following statement: "Our company operations have remained essentially flat, in census and revenues. Comparisons with prior year's operations are unfavorable, however, the slight improvement from the recent past quarter does indicate we are addressing our operating problems. We will stay with our commitment to the high quality of our specialty programs, while containing costs where at all possible, and continue efforts to increase revenues by marketing our programs on a national and regional basis."
 Greenery Rehabilitation Group, Inc. is headquartered in Newton, Mass. GRG operates 12 rehabilitation and nursing facilities which emphasize care to victims of traumatic head injuries.
 GREENERY REHABILITATION GROUP, INC.
 Financial Summary
 ($ in thousands, except share data)
 Quarter ended March 31,
 1992 1991
 Total revenues $28,104 $26,331
 Total expenses 28,004 25,789
 Net income before extraordinary item 100 542
 Extraordinary item, net of taxes --- 458
 Net income $100 $1,000
 Shares outstanding 8,283,000 8,258,000
 Net income per share before
 extraordinary item 1 cent 7 cents
 Net income per share 1 cent 12 cents
 Six Months ended March 31,
 1992 1991
 Total revenues $55,636 $52,756
 Total expenses 55,821 51,114
 Equity in loss of Healthcare International --- 865
 Net (loss) income before extraordinary item (185) 777
 Extraordinary item, net of taxes --- 458
 Net (loss) income $(185) $1,235
 Shares outstanding 8,297,000 8,422,000
 Net (loss) income per share before
 extraordinary item (2 cents) 9 cents
 Net income per share (2 cents) 15 cents
 -0- 5/12/92
 /CONTACT: Gerard M. Martin, chairman, or George M. Ferencik, president, of Greenery Rehabilitation Group, 617-244-4744/
 (GRG HII) CO: Greenery Rehabilitation Group, Inc. ST: Massachusetts IN: HEA SU: ERN


SH -- NE001 -- 8919 05/12/92 08:00 EDT
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Publication:PR Newswire
Date:May 12, 1992
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