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HEALTHDYNE ANNOUNCES FIRST QUARTER IMPROVEMENTS

 HEALTHDYNE ANNOUNCES FIRST QUARTER IMPROVEMENTS
 MARIETTA, Ga., April 22 /PRNewswire/ -- Healthdyne, Inc.


(NASDAQ: HDYN) today announced its financial results for the first quarter of 1992.
 Revenues for the first quarter of $56.0 million increased 37 percent over the first quarter of 1991, while net earnings for the quarter increased 73 percent to $4.2 million, or $.26 per share, from $2.4 million, or $.16 per share. These results reflect continued strong performances from each of the company's three operating units.
 Home Nutritional Services, Inc. (NASDAQ: HNSI), the company's 66 percent owned home infusion therapy subsidiary, had revenues for the quarter of $29.0 million, up 29 percent from $22.4 million for the first quarter of 1991, while net earnings increased to $3.1 million from $2.6 million in 1991.
 Healthdyne Perinatal Services, the company's home obstetrical care subsidiary, continued its industry leading rate of growth with a 64 percent increase in revenues for the quarter to $15.9 million, which compares very favorably with $9.7 million in the first quarter of 1991. Operating profits for the quarter increased over 450 percent to $2.0 million compared to $360,000 for this division in the first quarter of 1991.
 Healthdyne Technologies, the company's manufacturing division, also continued to improve its performance. Their revenues increased 30 percent to $11.7 million, from $9.0 million in the first quarter of 1991, and their operating profit for the quarter increased 67 percent to $1.6 million from $1.0 million in the first quarter of 1991.
 According to Parker H. Petit, chairman and chief executive officer of Healthdyne: "I am extremely pleased with our strong operating performance. All three of our operating units are contributing to the growth in revenues and increased profitability. The outlook for our areas of high tech home healthcare continues to be very good; therefore, we have decided to continue our open market stock repurchase program."
 Healthdyne is a national provider of high technology home care medical services, including infusion therapy through Home Nutritional Services, its partially owned subsidiary, and home obstetrical care through Healthdyne Perinatal Services, and a manufacturer of high tech home care products through its Healthdyne Technologies Division.
 HEALTHDYNE, INC. AND SUBSIDIARIES
 CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
 (Amounts in thousands, except per share amounts)
 (Unaudited)
 3 mos. ended March 31 1992 1991
 Revenues $55,981 $40,867
 Cost of revenues 24,439 18,307
 Gross profit 31,542 22,560
 Selling and
 administrative expenses 19,082 14,331
 Provision for doubtful
 accounts 4,470 3,237
 Research and development
 expenses 494 480
 Operating profit 7,496 4,512
 Interest income 233 222
 Interest expense (141) (170)
 Other income (expense), net (106) (1)
 Minority interest in
 earnings of partnerships (232) (30)
 Earnings before income
 tax expense and minority interest
 in net earnings of subsidiary 7,250 4,533
 Income tax expense 2,018 1,283
 Earnings before minority interest
 in net earnings of subsidiary 5,232 3,250
 Minority interest in net earnings
 of subsidiary 1,055 842
 Net earnings $ 4,177 2,408
 Net earnings per common
 share and common share
 equivalent $ .26 .16
 Weighted average number of
 common shares and common
 share equivalents 15,946 15,424
 HEALTHDYNE, INC. AND SUBSIDIARIES
 Consolidated Condensed Balance Sheets
 (Amounts in thousands)
 ASSETS 3/31/92 12/31/91
 Current assets: (Unaudited)
 Cash and short-term
 investments $ 18,351 $ 23,015
 Trade accounts receivable,
 net 78,470 74,165
 Inventories 15,291 13,063
 Deferred income taxes 1,084 841
 Other current assets 4,801 4,702
 Total current assets 117,997 115,786
 Property and equipment, net 16,465 15,252
 Goodwill and other intangibles,
 net 4,963 5,056
 Other assets 2,611 2,649
 Total $142,036 $ 138,743
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Current installments of
 long-term debt and obligations
 under capital leases $ 339 595
 Accounts payable, principally
 trade 8,801 8,861
 Other current liabilities 11,224 11,974
 Total current liabilities 20,364 21,430
 Long-term debt and obligations
 under capital leases, excluding
 current installments 4,063 6,576
 Deferred income taxes 6,766 6,766
 Other long-term liabilities 560 604
 Total liabilities 31,753 35,376
 Min. interest in subsidiary
 and partnerships 24,956 23,352
 Shareholders' equity 85,327 80,015
 Total $ 142,036 138,743
 -0- 4/22/92
 /CONTACT: Donald R. Millard of Healthdyne, 404-423-4529/
 (HDYN HNSI) CO: Healthdyne, Inc. ST: Georgia IN: HEA SU: ERN


BR-EA -- AT002 -- 1210 04/22/92 11:22 EDT
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Date:Apr 22, 1992
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