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HNS SURPASSES $100 MILLION MILESTONE FOR 1991

 HNS SURPASSES $100 MILLION MILESTONE FOR 1991
 PARSIPPANY, N.J., Feb. 10 /PRNewswire/ -- Home Nutritional


Services, Inc. (OTC: HNSI) today announced record financial results for the fourth quarter and fiscal year ended Dec. 31, 1991.
 The results for the year reflect a 25 percent growth in revenues to $101.3 million and a 28 percent growth in operating profit to $18.5 million or 18 percent of revenues. Net earnings for the year increased 25 percent to $11.4 million, or $0.97 per share, vs. $9.2 million, or $0.78 per share, in 1990.
 Revenues for the fourth quarter increased 26 percent to $28.7 million, compared to $22.7 million in the prior year's quarter. Net earnings were up 25 percent, and earnings per share grew to $0.26 on more shares outstanding, as compared to $0.22 per share for the fourth quarter of 1990.
 Commenting on the results, President and CEO Kent Kerkhof stated: "Our annual revenues of more than $100 million represent a milestone for the company. We are pleased with the results and encouraged by the fact that our quarterly rate of revenue growth increased throughout the year. During the year we laid the foundation for our Strategic Alliances and Integrated Care Centers, and we will continue to build on that foundation in 1992."
 Kerkhof added: "Our net cash flow of approximately $6 million for the year exceeded our fiscal plan. This was due in part to the implementation of our new Management Information System. At centers where this system has been in place for some time, it has shown good promise in reducing the length of time that it takes to collect our accounts receivable."
 HNS is a national provider of home infusion therapies and related alternate site services. The company conducts its business through 33 regional centers, 16 satellite facilities and 24 additional sites of service. HNS is recognized as a leader in quality care and clinical sophistication.
 HOME NUTRITIONAL SERVICES, INC. AND SUBSIDIARIES
 Consolidated Condensed Statements of Earnings
 (Amounts in thousands, except per share amounts)
 3 mos. ended 12 mos. ended
 (Unaudited)
 12/31/91 12/31/90 12/31/91 12/31/90
 Revenues $28,700 22,747 101,320 81,376
 Cost of revenues 11,868 9,125 40,687 34,306
 Gross profit 16,832 13,622 60,633 47,070
 Selling and administrative
 expenses 8,976 7,247 32,097 24,815
 Provision for doubtful
 accounts 2,797 2,274 10,075 7,830
 Operating profit 5,059 4,101 18,461 14,425
 Interest income 195 184 609 737
 Interest expense (51) (52) (205) (140)
 Other expense, net (2) (5) (10) (35)
 Earnings before income tax expense
 and minority interest 5,201 4,228 18,855 14,987
 Income tax expense 2,000 1,690 7,358 5,835
 Earnings before minority
 interest 3,201 2,538 11,497 9,152
 Minority interest in net
 earnings of subsidiaries 30 --- 57 ---
 Net earnings $ 3,171 2,538 11,440 9,152
 Net earnings per com. share
 and com. share equiv. $.26 .22 .97 .78
 Weighted avg. number of common
 shares and common
 share equivalents 12,015 11,684 11,849 11,807
 HOME NUTRITIONAL SERVICES, INC. AND SUBSIDIARIES
 Consolidated Condensed Balance Sheets
 (Amounts in thousands)
 Dec. 31, 1991 Dec. 31, 1990
 ASSETS
 Current assets:
 Cash and short-term investments $16,073 10,165
 Trade accounts receivable, net 47,453 38,372
 Inventories 2,951 2,163
 Deferred income taxes 574 2,408
 Other current assets 669 701
 Total current assets 67,720 53,809
 Property and equipment, net 4,421 3,711
 Goodwill, net 3,328 3,323
 Other assets 1,205 224
 Total $76,674 61,067
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Current installments of
 long-term debt $ 89 181
 Accounts payable, principally trade 4,025 2,703
 Income taxes payable 1,682 600
 Due to affiliate 33 1,650
 Accrued liabilities 3,095 1,960
 Total current liabilities 8,924 7,094
 Long-term debt, excluding
 current installments 794 907
 Total liabilities 9,718 8,001
 Minority interest 60 178
 Shareholders' equity 66,896 52,888
 Total $76,674 61,067
 -0- 2/10/92
 /CONTACT: Donald R. Millard of Home Nutritional Services, 404-423-4529/
 (HNSI) CO: Home Nutritional Services, Inc. ST: New Jersey IN: MTC SU: ERN


BN-TG -- AT001 -- 8086 02/10/92 07:45 EST
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Date:Feb 10, 1992
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