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HEALTH IMAGES, INC. ANNOUNCES SECOND QUARTER 1993 RESULTS

 ATLANTA, July 30 /PRNewswire/ -- Health Images, Inc. (NYSE: HII) today announced for the quarter ending June 30 net income of $668,700 or $0.06 per share on both a primary and fully diluted share basis.
 Net revenues were $18,409,900. In the prior year period, Health Images recorded net revenues of $16,751,700 and net income of $1,587,800 or $0.13 per share on both a primary and fully diluted share basis. Primary earnings per share were calculated on 11,541,600 and 12,482,700 weighted average common share and net dilutive common share equivalents outstanding for the 1993 and 1992 periods respectively. Compared to the prior year period, same center MRI studies conducted decreased by 4.7 percent, while same center net revenues decreased by 6.7 percent. Total MRI studies conducted increased by 10.3 percent.
 For the six months ending June 30, net income was $1,687,600 or $0.14 per share on both a primary and fully diluted basis on net revenues of $36,158,500. For the prior year period, net income was $.26 per share on both a primary and fully diluted basis. Primary earnings per share were calculated on 11,686,700 and 12,547,700 weighted average common share and net dilutive common share equivalents outstanding for the 1993 and 1992 periods respectively. Compared to the prior year period, same center MRI studies conducted decreased by 4.5 percent, while same center net revenues decreased by 6.1 percent. Total MRI studies conducted increased by 12.0 percent.
 W.A. Wilson, president and CEO of Health Images, Inc., stated: "The second quarter and six months earnings results were consistent with our near-term expectations. We are confident that our low cost structure and our strategy of managed care marketing will provide for future earnings growth and strong operating cash flow. During the second quarter, the company signed an agreement with Harris Methodist Health Plan Inc. to provide diagnostic radiology imaging services for its estimated 99,000 HMO members in the Dallas/Fort Worth area. Also, subsequent to the close of the second quarter, we opened a new magnetic resonance imaging (MRI) center in Cape Coral, Florida."
 Health Images, Inc. operates outpatient medical centers, manufactures magnetic resonance imaging scanners, and provides equipment maintenance services for major medical diagnostic imaging equipment.
 HEALTH IMAGES OPERATING RESULTS
 3 months ended June 30
 Inc. Pct. inc.
 1993 1992 (dec.) (dec.)
 Net patient service
 revenue $16,499,500 $14,850,200 $1,649,300 11.1
 Engineering revenue 1,159,000 1,658,600 (499,600) (30.1)
 Other income 751,400 242,900 508,500 209.3
 Total net revenue 18,409,900 16,751,700 1,658,200 9.9
 Operating costs 14,243,500 11,718,100 2,525,400 21.6
 Provision for
 bad debt 624,700 525,400 99,300 18.9
 General and admin.
 expenses 1,840,600 1,687,800 152,800 9.1
 Total operating
 expenses 16,708,800 13,931,300 2,777,500 19.9
 Operating income 1,701,100 2,820,400 (1,119,300) (39.7)
 Equity in loss of
 affiliate (128,000) --- 128,000 ---
 Interest income 78,100 312,800 (234,700) (75.0)
 Interest expense (425,000) (484,600) (59,600) (12.3)
 Income bef. prov. for
 income taxes and
 minority interest 1,226,200 2,648,600 (1,422,400) (53.7)
 Minority int. in income
 of consolidated
 entities 51,800 82,400 (30,600) (37.1)
 Income before income
 taxes 1,174,400 2,566,200 (1,391,800) (54.2)
 Provision for
 income taxes 505,700 978,400 (472,700) (48.3)
 Net income $ 668,700 $ 1,587,800 $ (919,100) (57.9)
 Net income per share
 (primary) $0.06 $0.13 ($0.07) (53.8)
 Net income per share
 (fully diluted) $0.06 $0.13 ($0.07) (53.8)
 Primary common shares and
 net dilutive common share
 equivalents 11,541,600 12,482,700 (941,100) (7.5)
 Fully diluted common shares
 and net dilutive common
 shares equivalents 11,541,600 12,482,700 (941,100) (7.5)
 Total MRI studies
 conducted 20,078 18,200 1,878 10.3
 Same center studies
 conducted 17,341 18,200 (859) (4.7)
 Same center net
 revenues 13,849,600 14,850,200 (1,000,600) (6.7)
 Centers in operation 42 36 6 16.7
 HEALTH IMAGES OPERATING RESULTS
 6 months ended June 30
 Inc. Pct. inc.
 1993 1992 (dec.) (dec.)
 Net patient service
 revenue $32,248,400 $28,851,100 $3,397,300 11.8
 Engineering revenue 2,379,600 3,112,100 (732,500) (23.5)
 Other income 1,530,500 1,105,600 424,900 38.4
 Total net revenue 36,158,500 33,068,800 3,089,700 9.3
 Operating costs 27,850,800 22,923,300 4,927,500 21.5
 Provision for
 bad debt 1,102,900 1,021,700 81,200 7.9
 General and admin.
 expenses 3,339,300 3,362,400 (23,100) (0.7)
 Total operating
 expenses 32,293,000 27,307,400 4,985,600 18.3
 Operating income 3,865,500 5,761,400 (1,895,900) (32.9)
 Equity in loss of
 affiliate (231,500) --- 231,500 ---
 Interest income 161,800 688,700 (526,900) (76.5)
 Interest expense (838,400) (988,300) (149,900) (15.2)
 Income bef. prov. for
 income taxes and
 minority interest 2,957,400 5,461,800 (2,504,400) (45.9)
 Minority int. in income
 of consolidated
 entities 84,900 203,000 (118,100) (58.2)
 Income before income
 taxes 2,872,500 5,258,800 (2,386,300) (45.4)
 Provision for
 income taxes 1,184,900 1,948,300 (763,400) (39.2)
 Net income $ 1,687,600 $ 3,310,500 $(1,622,900) (49.0)
 Net income per share
 (primary) $0.14 $0.26 ($0.12) (46.2)
 Net income per share
 (fully diluted) $0.14 $0.26 ($0.12) (46.2)
 Primary common shares and
 net dilutive common share
 equivalents 11,686,700 12,547,700 (861,000) (6.9)
 Fully diluted common shares
 and net dilutive common
 shares equivalents 11,686,700 12,547,700 (861,000) (6.9)
 Total MRI studies
 conducted 39,285 35,061 4,224 12.0
 Same center studies
 conducted 33,493 35,061 (1,568) (4.5)
 Same center net
 revenues 27,088,800 28,851,100 (1,762,300) (6.1)
 Centers in operation 42 36 6 16.7
 -0- 7/30/93
 /CONTACT: W.A. ("Bill") Wilson, president and CEO, or Laura J. Werner, director-Shareholder Relations, of Health Images, 404-587-5084/
 (HII)


CO: Health Images, Inc. ST: Georgia IN: MTC SU: ERN

BN-BR -- AT003 -- 7656 07/30/93 10:20 EDT
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Date:Jul 30, 1993
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