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HEALTH IMAGES ANNOUNCES FIRST QUARTER 1993 RESULTS

 ATLANTA, May 3 /PRNewswire/ -- Health Images, Inc. (NYSE: HII) today announced for the quarter ending March 31, net income of $1,019,100 or $0.09 per share on both a primary and fully diluted share basis.
 Net revenues were $17,748,600. In the prior year period Health Images recorded net revenues of $16,367,900 and net income of $1,722,600 or $0.14 per share on both a primary and fully diluted share basis. Primary earnings per share were calculated on 11,842,100 and 12,620,400 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 4.2 percent, while same center net revenues decreased by 5.5 percent. Total MRI studies conducted increased by 13.9 percent.
 Robert D. Carl III, Health Image's president, chairman and chief executive officer, said: "First quarter earnings were negatively impacted by inclement weather and a downturn in domestic demand for medical imaging. The softening of demand for imaging services may persist for the short run as the dynamics of health care delivery continue to change. I remain confident that Health Images strategy of managed care marketing, combined with our low cost structure, will allow our company to remain solidly profitable while producing strong operating cash flows. Health Images remains well positioned to prosper under health care reform where managed care plans are encouraged, physician self referral is eliminated, and competition is based on pricing and quality of service."
 Health Images, Inc. operates magnetic resonance imaging centers, manufactures magnetic resonance imaging scanners, and provides equipment maintenance services for major medical diagnostic imaging equipment.
 HEALTH IMAGES OPERATING RESULTS
 3 months ended March 31
 Inc. Pct. inc.
 1993 1992 (dec.) (dec.)
 Net patient service
 revenue $15,748,800 $14,051,700 $1,697,100 12.1
 Engineering revenue 1,220,700 1,453,500 (232,800) (16.0)
 Other income 779,100 862,700 (83,600) (9.7)
 Total net revenue 17,748,600 16,367,900 1,380,700 8.4
 Operating costs 13,607,300 11,205,500 2,401,800 21.4
 Provision for bad
 debt 478,100 496,200 (18,100) (3.6)
 General and admin.
 expenses 1,498,700 1,674,600 (175,900) (10.5)
 Total operating
 expenses 15,584,100 13,376,300 2,207,800 16.5
 Operating income 2,164,500 2,991,600 (827,100) (27.6)
 Equity in loss of
 affiliate (103,500) --- 103,500 ---
 Interest income 83,800 325,200 (241,400) (74.2)
 Interest expense (413,400) (503,700) (90,300) (17.9)
 Income bef. prov. for
 income taxes and
 minority interest 1,731,400 2,813,100 (1,081,700) (38.5)
 Minority int. in income
 of consolidated
 entities 33,000 120,500 (87,500) (72.6)
 Income before income
 taxes 1,698,400 2,692,600 (994,200) (36.9)
 Provision for
 income taxes 679,300 970,000 (290,700) (30.0)
 Net income $ 1,019,100 $ 1,722,600 $ (703,500) (40.8)
 Net income per share
 (primary) $0.09 $0.14 ($0.05) (37.0)
 Net income per share
 (fully diluted) $0.09 $0.14 ($0.05) (37.0)
 Primary common shares and
 net dilutive common share
 equivalents 11,842,100 12,620,400 (778,300) (6.2)
 Fully diluted common shares
 and net dilutive common
 shares equivalents 11,842,100 12,620,400 (778,300) (6.2)
 Total MRI studies
 conducted 19,207 16,861 2,346 13.9
 Same center studies
 conducted 16,152 16,861 (709) (4.2)
 Same center net
 revenues 13,239,200 14,002,500 (763,300) (5.5)
 Imaging centers in
 operation 39 32 7 21.9
 -0- 5/3/93
 /CONTACT: Robert D. Carl, III, president and chairman, or Laura J. Werner, director, shareholder relations, of Health Images, 404-587-5084/
 (HII)


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

BR-BN -- AT003 -- 3631 05/03/93 09:40 EDT
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Publication:PR Newswire
Date:May 3, 1993
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