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HCA-HOSPITAL CORPORATION OF AMERICA ANNOUNCES SECOND QUARTER 1992 RESULTS

 HCA-HOSPITAL CORPORATION OF AMERICA
 ANNOUNCES SECOND QUARTER 1992 RESULTS
 NASHVILLE, Tenn., July 20 /PRNewswire/ -- HCA-Hospital Corporation of America (NYSE: HCA) today announced earnings per share of $.47 for its second quarter ended June 30, 1992. HCA's initial public offering of common stock was completed March 4, 1992 and, accordingly, there are no comparable earnings per share results for 1991.
 Net income for the second quarter of 1992 totaled $85,226,000, compared to $33,360,000 for the same period last year. Earnings before depreciation, interest and income taxes totaled $277,027,000 in this year's second quarter, compared to $256,214,000 in 1991. Net revenues increased from $1,257,052,000 last year to $1,286,762,000 for the quarter ended June 30, 1992. Excluding divestitures, medical-surgical hospital net revenues for the quarter increased approximately 9 percent as compared to last year's second quarter.
 For the six months ended June 30, 1992, net income totaled $162,166,000, compared to $77,309,000 last year. Net revenues increased from $2,513,474,000 last year to $2,618,770,000 for the first six months of 1992.
 Interest expense for the second quarter and first six months of 1992 totaled $66,765,000 and $167,891,000, respectively, compared to $126,554,000 and $242,320,000, respectively, in 1991. The significant reduction in interest expense resulted from the early repayment of debt from the proceeds of the initial public offering, as well as other debt repayments and significantly lower interest rates during the last 12 months. Approximately $500,000,000 of borrowings were repaid during the second quarter of 1992.
 At June 30, 1992, HCA and its affiliates owned and operated 74 U.S. medical-surgical hospitals with approximately 17,000 beds and 49 U.S. psychiatric hospitals with approximately 5,000 beds.
 HCA-HOSPITAL CORPORATION OF AMERICA
 FINANCIAL HIGHLIGHTS
 Three Months Ended June 30
 1992 1991
 Net Operating Revenues $1,286,762,000 $1,257,052,000
 Income before Income Taxes $ 142,226,000 $ 60,860,000
 Net Income $ 85,226,000 $ 33,360,000
 Average Number of Common and
 Common Equivalent Shares (A) 180,827,000 --
 Net Income per Common and
 Common Equivalent Share (A) $.47 --
 Six Months Ended June 30
 1992 1991
 Net Operating Revenues $2,618,770,000 $2,513,474,000
 Income before Income Taxes $ 273,166,000 $ 140,809,000
 Net Income $ 162,166,000 $ 77,309,000
 Average Number of Common and
 Common Equivalent Shares (A) 167,599,000 --
 Net Income per Common and
 Common Equivalent Share (A) $.97 --
 (A) On March 4, 1992, the Company issued 39,100,000 shares of common stock in conjunction with its initial public offering.
 -0- 7/20/92
 /CONTACT: Victor L. Campbell, Vice President, Corporate Relations, HCA-Hospital Corporation of America, 615-327-9551/
 (HCA) CO: HCA-Hospital Corporation of America ST: Tennessee IN: HEA SU: ERN


CM -- CH001 -- 0585 07/20/92 09:05 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
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