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HEALTH MANAGEMENT ASSOCIATES REPORTS 70 PERCENT INCREASE IN NET EARNINGS FOR THE THIRD QUARTER ENDED JUNE 30, 1992

 HEALTH MANAGEMENT ASSOCIATES REPORTS 70 PERCENT INCREASE IN NET
 EARNINGS FOR THE THIRD QUARTER ENDED JUNE 30, 1992
 NAPLES, Fla., July 14 /PRNewswire/ -- William J. Schoen, chairman, president and chief executive officer of Health Management Associates, Inc. (NYSE: HMA) announced today that net earnings increased 70 percent in the third quarter ended June 30, 1992, after a 13 percent increase in the number of shares outstanding. Net earnings were $6,403,000 compared to the $3,770,000 in the same quarter a year ago. Net earnings per share increased to $.34 on 19,043,000 shares as compared with $.23 on 16,821,000 shares a year ago. Net revenues increased during the quarter to $71,686,000 from $56,444,000 for the same quarter a year ago.
 In commenting on the company's third quarter results, Schoen said, "The company's performance reflects our commitment to provide improved and expanded services through efficient facility operations and a successful selective strategic acquisition program."
 Net results for the nine months ended June 30, 1992 were excellent with net earnings increasing to $18,066,000 from $9,161,000 for the same period a year ago. Per share earnings for the period were $.97 on 18,712,000 shares as compared to $.63 on 14,597,000 shares outstanding during the prior year. This is a net earnings per share increase of 54 percent after a 15 percent increase in the number of shares outstanding. Total net revenues increased to $208,951,000 from $164,717,000 in the comparable nine month period.
 Health Management Associates is a major operator of general acute care hospitals in communities situated primarily in the southeast and southwest. The company operates 16 facilities in ten states with a total of 1,658 licensed beds.
 HEALTH MANAGEMENT ASSOCIATES, INC.
 Selected Financial Data
 Three months ended June 30: 1992 1991
 Net operating revenue $71,686,000 $56,444,000
 Net income 6,403,000 3,770,000
 Earnings per share $.34 $.23
 Shares outstanding 19,043,000 16,821,000
 Nine months ended June 30: 1992 1991
 Net operating revenue $208,951,000 $164,717,000
 Net income 18,066,000 9,161,000
 Earnings per share:
 Before extraordinary item $.90 $.63
 Extraordinary item .07 --
 Total $.97 $.63
 Shares outstanding 18,712,000 14,597,000
 -0- 7/14/92
 /CONTACT: William J. Schoen, president of Health Management Associates, 813-598-3175/
 (HMA) CO: Health Management Associates Inc. ST: Florida IN: HEA SU: ERN


TQ-TB -- NY018 -- 8999 07/14/92 10:01 EDT
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Publication:PR Newswire
Date:Jul 14, 1992
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