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HEALTHCARE IMAGING SERVICES, INC. REPORTS SECOND QUARTER 1993 FINANCIAL RESULTS

 MIDDLETOWN, NJ, Aug. 17 /PRNewswire/ -- HealthCare Imaging Services, Inc. (NASDAQ: HISS) today reported operating income, before minority interests, of $558,738 and net income of $161,532 or $.04 per share based upon 3,931,186 weighted average common shares outstanding for the six months ended June 30, 1993 compared to operating income, before minority interests, of $944,701 and net income of $413,983 or $.11 per share based upon 3,639,522 weighted average common shares outstanding for the six months ended June 30, 1992. For the three months ended June 30, 1993, the company reported an operating loss, before minority interests, of $20,183 and a net loss of $56,272 or $.01 per share based upon 3,931,732 weighted average common shares outstanding compared to operating income, before minority interests, of $480,697 and net income of $207,528 or $.06 per share based upon 3,620,037 weighted average common shares for the comparable period of 1992.
 The company attributes these results to a loss of revenues from mobile MRI operations due to the malfunction of one of its mobile MRI units as a result of design flaws and damage sustained while transporting the unit. The company has submitted claims to the transportation carrier and to the company which designed and built the unit. In addition, the company has submitted a business interruption claim with its property and casualty insurance carrier in the approximate aggregate amount of $225,000. The company also attributes these results to expenses associated with the start-up of two new fixed- site MRI centers.
 The following are consolidated condensed unaudited statements of operations for the periods indicated:
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $3,176,954 $2,710,465 $6,764,400 $4,988,330
 Expenses 3,197,137 2,229,768 6,205,662 4,043,629
 Income (loss) before
 minority interests
 in net income of
 joint ventures (20,183) 480,697 558,738 944,701
 Minority interests
 in net income of
 joint ventures (72,089) (111,169) (252,206) (191,718)
 Income (loss) before
 income taxes (92,272) 369,528 306,532 752,983
 Income taxes
 (benefit) (36,000) 162,000 145,000 339,000
 Net income (loss) (56,272) 207,528 161,532 413,983
 Earnings (loss) per
 common share out-
 standing (.01) .06 .04 .11
 Weighted average
 common shares
 outstanding 3,931,732 3,620,037 3,931,186 3,639,522
 HealthCare Imaging Services, Inc. is a healthcare management and services company that provides state-of-the-art healthcare equipment, facilities and services to physicians, hospitals, and other healthcare providers. The company currently owns and operates six fixed-site imaging centers in New York, New Jersey, Pennsylvania and Maryland, four mobile MRI units operating in New York and New Jersey, and one mobile lithotripsy unit operating in New York.
 -0- 8/17/93
 /CONTACT: Calvin M. Sprung, vice president of finance of HealthCare Imaging Services, Inc., 908-224-9292/
 (HISS)


CO: HealthCare Imaging Services, Inc. ST: New Jersey IN: HEA SU: ERN

DH-MG -- NY060 -- 3611 08/17/93 14:00 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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