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HEALTH IMAGES ANNOUNCES THIRD QUARTER 1992 RESULTS

 HEALTH IMAGES ANNOUNCES THIRD QUARTER 1992 RESULTS
 ATLANTA, Oct. 28 /PRNewswire/ -- Health Images, Inc. (NASDAQ: HIMG),


today announced for the quarter ending Sept. 30 net income of $1,793,700, or $0.15 per share on both a primary and fully diluted share basis.
 Net revenues were $17,976,500. In the prior year period Health Images recorded net revenues of $16,040,700 and net income of $1,588,000 or $0.13 per share on both a primary and fully diluted share basis. Primary earnings per share were calculated on 12,276,400 and 12,602,600 weighted average common share and net dilutive common share equivalents outstanding for the 1992 and 1991 periods respectively. Compared to the prior year period, same center MRI studies conducted increased by 3.5 percent, while same center net revenues decreased by 1.5 percent. Total MRI studies conducted increased by 25.6 percent.
 For the nine months ending Sept. 30, net income was $5,104,200 or $0.41 per share on both a primary and fully diluted basis on net revenues of $51,045,300. For the prior year period, net income was $0.37 per share on both a primary and fully diluted basis. Primary earnings per share were calculated on 12,460,500 and 11,946,400 weighted average common share and net dilutive common share equivalents outstanding for the 1992 and 1991 periods respectively. Compared to the prior year period, same center MRI studies conducted increased by 3.5 percent, while same center net revenues increased by 4.3 percent. Total MRI studies conducted increased by 20.4 percent.
 Robert D. Carl III, Health Images' president, chairman and chief executive officer, said: "In spite of continuing reimbursement pressures, Health Images reported increased earnings for the quarter ended September 30, 1992. Continued good expense controls and earnings contributions from acquisitions more than offset the effects of reimbursement declines."
 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
 Three months ending Sept. 30
 Inc. Pct. inc.
 1992 1991 (dec.) (dec.)
 Net patient service
 revenue $16,482,600 $13,928,500 $2,554,100 18.3
 Engineering revenue 1,142,400 1,139,700 2,700 0.2
 Other income 351,500 972,600 (621,100) (63.9)
 Total net revenue 17,976,500 16,040,800 1,935,700 12.1
 Operating costs 12,523,700 11,125,400 1,398,300 12.6
 Prov. for bad debt 450,600 659,100 (208,500) (31.6)
 General and admin.
 expenses 1,805,900 1,617,600 188,300 11.6
 Interest income (271,600) (440,600) (169,000) (38.4)
 Interest expense 489,700 398,200 91,500 23.0
 Income bef. prov. for
 income taxes and
 minority interest 2,978,200 2,681,100 297,100 11.1
 Minority int. in income
 of consolidated
 entities 86,000 160,800 (74,800) (46.5)
 Income before income
 taxes 2,892,200 2,520,300 371,900 14.8
 Provision for
 income taxes 1,098,500 932,300 166,200 17.8
 Net income $ 1,793,700 $ 1,588,000 $ 205,700 13.0
 Net income per share
 (primary) $0.15 $0.13 $0.02 15.4
 Net income per share
 (fully diluted) $0.15 $0.13 $0.02 15.4
 Primary common shares and
 net dilutive common share
 equivalents 12,276,400 12,602,600 (326,200) (2.6)
 Fully diluted common shares
 net dilutive common
 shares equivalents 12,276,400 12,642,400 (366,000) (2.9)
 Total MRI studies
 conducted 20,347 16,205 4,142 25.6
 Same center studies
 conducted 16,765 16,205 560 3.5
 Same center net
 revenues $13,722,300 $13,928,500 $ (206,200) (1.5)
 Imaging centers in
 operation 37 32 5 15.6
 HEALTH IMAGES OPERATING RESULTS
 Nine months ending Sept. 30
 Inc. Pct. inc.
 1992 1991 (dec.) (dec.)
 Net patient service
 revenue $45,333,700 $37,908,900 $7,424,800 19.6
 Engineering revenue 4,254,500 4,757,400 (502,900) (10.6)
 Other income 1,457,100 1,659,900 (202,800) (12.2)
 Total net revenue 51,045,300 44,326,200 6,719,100 15.2
 Operating costs 35,447,200 30,911,300 4,535,900 14.7
 Prov. for bad debt 1,472,200 1,320,500 151,700 11.5
 General and admin.
 expenses 5,168,300 4,369,500 798,800 18.3
 Interest income (960,400) (1,131,000) (170,600) (15.1)
 Interest expense 1,478,000 1,394,200 83,800 6.0
 Income bef. prov. for
 income taxes and
 minority interest 8,440,000 7,461,700 978,300 13.1
 Minority int. in income
 of consolidated
 entities 289,000 448,400 (159,400) (35.5)
 Income before income
 taxes 8,151,000 7,013,300 1,137,700 16.2
 Provision for
 income taxes 3,046,800 2,594,700 452,100 17.4
 Net income $ 5,104,200 $ 4,418,600 $ 685,600 15.5
 Net income per share
 (primary) $0.41 $0.37 $0.04 10.8
 Net income per share
 (fully diluted) $0.41 $0.37 $0.04 10.8
 Primary common shares and
 net dilutive common share
 equivalents 12,460,500 11,946,400 514,100 4.3
 Fully diluted common shares
 net dilutive common
 shares equivalents 12,460,500 11,946,400 514,100 4.3
 Total MRI studies
 conducted 55,408 46,004 9,404 20.4
 Same center studies
 conducted 47,603 46,004 1,599 3.5
 Same center net
 revenues $39,529,100 $37,908,900 $1,620,200 4.3
 Imaging centers in
 operation 37 32 5 15.6
 -0- 10/28/92
 /CONTACT: Robert D. Carl III, president and chairman, or Laura J. Werner, director, shareholder relations, of Health Images, 404-587-5084/
 (HIMG) CO: Health Images, Inc. ST: Georgia IN: MTC HEA SU: ERN


EA-BR -- AT005 -- 5918 10/28/92 11:03 EST
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