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HOME NUTRITIONAL SERVICES ANNOUNCES ACCELERATED REVENUE GROWTH IN FIRST QUARTER

 HOME NUTRITIONAL SERVICES ANNOUNCES ACCELERATED REVENUE GROWTH
 IN FIRST QUARTER
 PARSIPPANY, N.J., April 22 /PRNewswire/ -- Home Nutritional Services, Inc. (NASDAQ: HNSI) today announced its financial results for the first quarter of 1992.
 On the strength of accelerated revenue growth of 29 percent to $29.0 million, net earnings increased to $3.1 million or $.26 per share. Net earnings compared favorably to $2.6 million, or $.22 per share, in the first quarter of 1991.
 Kent Kerkhof, president and chief executive officer, stated: "Our first quarter performance is on track with our 1992 plan, and our business remains strong. Continuing growth at our existing centers, coupled with the implementation of our new strategies, resulted in the highest revenue growth we have achieved in recent quarters. Our operating profit as a percentage of revenues was slightly lower than last year because of expense commitments made during the first quarter for our new programs and growth strategies for 1992. We continue to be essentially debt-free with one of the strongest balance sheets in the industry."
 HNS is a national provider of home infusion therapies and related alternate site services. The corporation is one of the oldest and largest providers of home infusion care and 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)
 (Unaudited)
 3 mos. ended March 31 1992 1991
 Revenues $28,972 22,391
 Cost of revenues 12,200 9,106
 Gross profit 16,772 13,285
 Selling and admin. expenses 9,040 7,000
 Prov. for doubtful accts. 2,756 2,199
 Operating profit 4,976 4,086
 Interest income 156 145
 Interest expense (28) (50)
 Other expense, net (2) (8)
 Minority interest in net earns.
 of partnerships (6) ---
 Earnings before income
 tax expense 5,096 4,173
 Income tax expense 1,993 1,623
 Net earnings $ 3,103 2,550
 Net earnings per com. share
 and common share equiv. .26 .22
 Weighted avg. number of common
 shares and common
 share equivalents 12,082 11,726
 HOME NUTRITIONAL SERVICES, INC. AND SUBSIDIARIES
 Consolidated Condensed Balance Sheets
 (Amounts in thousands)
 March 31, 1992 Dec. 31, 1991
 (Unaudited)
 ASSETS
 Current assets:
 Cash and short-term investments $13,923 16,073
 Trade accounts receivable, net 50,005 47,453
 Inventories 4,560 2,951
 Deferred income taxes 978 735
 Other current assets 894 669
 Total current assets 70,360 67,881
 Property and equipment, net 4,973 4,421
 Goodwill, net 3,299 3,328
 Other assets 1,248 1,205
 Total $79,880 76,835
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Current installments of
 long-term debt $ 168 168
 Accounts payable, principally trade 4,146 4,025
 Income taxes payable 1,999 1,843
 Due to affiliate 24 33
 Accrued liabilities 2,251 3,095
 Total current liabilities 8,588 9,164
 Long-term debt, excluding
 current installments 715 715
 Total liabilities 9,303 9,879
 Minority interest 66 60
 Shareholders' equity 70,511 66,896
 Total $79,880 76,835
 -0- 4/22/92
 /CONTACT: Donald R. Millard of Home Nutritional Services, 404-423-4529/
 (HNSI) CO: Home Nutritional Services, Inc. ST: New Jersey IN: HEA SU: ERN


BN-BR -- AT003 -- 1225 04/22/92 11:37 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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