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

 MIDDLETOWN, N.J., Nov. 16 /PRNewswire/ -- HealthCare Imaging Services, Inc. (NASDAQ: HISS) today reported revenues of $10,066,709 for the nine months ended Sept. 30, 1993 compared to revenues of $8,175,590 for the nine months ended Sept. 30, 1992, an increase of 23 percent.
 The company also reported operating income, before minority interests, of $486,291 and a net loss of $7,432 or $.00 per share based upon 3,932,013 weighted average common shares outstanding for the nine months ended Sept. 30, 1993, compared to operating income, before minority interests, of $1,464,171 and net income of $640,676 or $.16 per share based upon 3,905,374 weighted average common shares outstanding for the nine months ended Sept. 30, 1992.
 For the three months ended Sept. 30, 1993, the company reported an operating loss, before minority interests, of $72,447 and a net loss of $168,964 or $.04 per share based upon 3,933,641 weighted average common shares outstanding compared to operating income, before minority interests, of $519,470 and net income of $226,693 or $.05 per share based upon 4,361,573 weighted average common shares for the comparable period of 1992.
 The company attributes these results principally 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 which are currently being repaired by the manufacturer and damage sustained while transporting the unit which is also being repaired. The company has submitted claims to the manufacturer which designed and built the unit and the transportation carrier. In addition, the company is submitting a business interruption claim with its property and casualty insurance carrier in the approximate aggregate amount of $375,000.
 The company also attributes these results to expenses associated with the start-up of its multi-modality fixed-site imaging center in Philadelphia, its fixed-site MRI facility in Catonsville, Md., the acquisition of a mobile lithotripsy unit and the development of a fixed-site lithotripsy operation utilizing the mobile lithotripsy unit affixed to the company's Brooklyn MRI facility.
 HEALTHCARE IMAGING SERVICES, INC.
 The following are consolidated condensed unaudited statements of operations for the periods indicated:
 Periods Ended Three Months Nine Months
 Sept. 30, 1993 1992 1993 1992
 Revenues $3,302,309 $3,187,260 $10,066,709 $8,175,590
 Expenses 3,374,756 2,667,790 9,580,418 6,711,419
 Income (loss) before
 minority interests in
 net income (loss) of
 joint ventures (72,447) 519,470 486,291 1,464,171
 Minority interests in
 net income (loss) of
 joint ventures (155,517) (113,777) (407,723) (305,495)
 Income (loss) before
 income taxes (227,964) 405,693 78,568 1,158,676
 Income taxes (benefit) (59,000) 179,000 86,000 518,000
 Net income (loss) 64 693 432 676
 Weighted average common
 shares outstanding 3,933,641 4,361,573 3,932,013 3,905,374
 Earnings (loss) per
 common share outstanding $(.04) $.05 $.00 $.16
 HealthCare Imaging Services, Inc. is a healthcare management and services company that provides state-of-thh?ealthcare 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, one mobile lithotripsy unit operating in New York and a fixed-site lithotripsy operation utilizing the mobile lithotripsy unit affixed to the company's Brooklyn MRI facility.
 -0- 11/16/93
 /CONTACT: Calvin M. Sprung, vice president of HealthCare Imaging Services, Inc., 908-224-9292/
 (HISS)


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

LD -- NY118 -- 5199 11/16/93 18:17 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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