Printer Friendly

HEALTHCARE IMAGING SERVICES REPORTS THIRD QUARTER EARNINGS FOR 1992

 HEALTHCARE IMAGING SERVICES REPORTS THIRD QUARTER EARNINGS FOR 1992
 SHREWSBURY, N.J., Nov. 11 /PRNewswire/ -- HealthCare Imaging Services, Inc. (NASDAQ: HISS) today reported an increase in revenues from $2,710,465 in the second quarter of 1992 to $3,187,260 in the third quarter of 1992 which represents an increase of approximately 18 percent.
 The company also reported 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 outstanding for the three months ended Sept. 30, 1992, compared to income before minority interests of $375,178 and net income of $201,900 or $.10 per share based upon 2 million common shares outstanding for the three months ended Sept. 30, 1991, prior to the company's initial public offering in November 1991. For the nine months ended Sept. 30, 1992, income before minority interests was $1,464,171 and net income was $640,676 or $.16 per share based upon 3,905,374 weighted average common shares outstanding compared to income before minority interests of $1,222,456 and net income of $649,006 or $.32 per share based upon 2 million common shares for the comparable period of 1991.
 The 4,361,573 and 3,905,374 weighted average common shares outstanding for the three months and nine months ended Sept. 30, 1992, respectively, resulted from the substantial dilutive effect of the temporary reduction in the exercise price of the outstanding common stock purchase warrants from $7 to $4 per share, as required by generally accepted accounting principles. Once the reduction period expires, dilution, if any, will be calculated based upon the original $7 exercise price instead of the reduced $4 exercise price.
 The following are unaudited, consolidated and condensed statements of income for the periods indicated:
 HEALTHCARE IMAGING SERVICES, INC.
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Revenues $3,187,260 $1,560,439 $8,175,590 $4,155,858
 Expenses 2,667,790 1,185,261 6,711,419 2,933,402
 Income before income
 taxes and minority
 interests in joint
 ventures 519,470 375,178 1,464,171 1,222,456
 Minority interests
 in net (income) loss
 of joint ventures (113,777) 11,922 (305,495) 12,750
 Income before income
 taxes 405,693 387,100 1,158,676 1,235,206
 Income taxes 179,000 185,200 518,000 586,200
 Net income 226,693 201,900 640,676 649,006
 Earnings per common
 share $.05 $.10 $.16 $.32
 Weighted average common
 shares outstg. 4,361,573 2,000,000(A) 3,905,374 2,000,000(A)
 (A) -- Prior to initial public offering.
 HealthCare Imaging Services, Inc. is a healthcare management and services company that supplies state-of-the-art health care equipment, facilities and services to physicians, hospitals and other health care providers.
 -0- 11/11/92
 /CONTACT: Calvin M. Sprung, vice president-finance of HealthCare Imaging Services, Inc., 908-542-3311/
 (HISS) CO: HealthCare Imaging Services, Inc. ST: New Jersey IN: HEA SU: ERN


CK-OS -- NY031 -- 9716 11/11/92 12:00 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1992
Words:516
Previous Article:WASTE MANAGEMENT, INC. DIVIDEND
Next Article:KLM ORDERS EIGHTEENTH BOEING 747-400
Topics:


Related Articles
HORIZON HEALTHCARE ANNOUNCES RECORD THIRD QUARTER RESULTS
HORIZON HEALTHCARE ANNOUNCES RECORD THIRD QUARTER RESULTS
HEALTHCARE IMAGING SERVICES, INC. REPORTS SECOND QUARTER EARNINGS FOR 1992
HOSPITAL STAFFING REPORTS THIRD QUARTER RESULTS; ANNOUNCES SIGNING OF HOME HEALTH MANAGEMENT AGREEMENT
UNITED HEALTHCARE REPORTS RECORD THIRD QUARTER
FUTURE HEALTHCARE REPORTS THIRD QUARTER RESULTS
HEALTHCARE IMAGING SERVICES, INC. REPORTS FIRST QUARTER 1993 FINANCIAL RESULTS
FUTURE HEALTHCARE REPORTS YEAR TO DATE EARNINGS
UNITED HEALTHCARE REPORTS RECORD THIRD QUARTER; REVENUE UP 45 PCT., NET EARNINGS UP 56 PCT. OVER YEAR AGO THIRD QUARTER
HEALTHCARE IMAGING SERVICES, INC. REPORTS 1993 FINANCIAL RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters