Printer Friendly

HOME NUTRITIONAL SERVICES ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS; APPOINTS NEW CHIEF EXECUTIVE OFFICER

HOME NUTRITIONAL SERVICES ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS;
 APPOINTS NEW CHIEF EXECUTIVE OFFICER
 PARSIPPANY, N.J., July 9 /PRNewswire/ -- Home Nutritional Services, Inc. (NASDAQ: HNSI) announced today that it expects to report earnings of $2,300 to $2,600, or $0.20 to $0.23 per share, for the second quarter ended June 30, compared with net income of $2.8 million, or $0.24 per share, for the same quarter of 1991.
 Revenues for the period are expected to increase more than 25 percent over last year's second quarter; however, the full benefit of the higher revenues is expected to be partly offset by start-up costs related to the development of additional Integrated Care Centers, as well as margin pressures resulting from an increase in managed care business during the quarter.
 The company also announced that John W. Anderson, previously chief operating officer of Home Nutritional Services, has been named president and chief executive officer, effective immediately. Anderson has seven years experience in the home health care industry. Prior to joining HNS in December 1991, Anderson was vice president, Infusion Therapy, at Homedco, Inc.
 Separately, the company announced the relocation of its corporate headquarters, currently located in Parsippany, N.J. Within 60 days, the headquarters will be moved to Atlanta where it will share facilities with Healthdyne, Inc. (NASDAQ: HDYN), a home health care provider that owns 67 percent of HNS' common stock.
 John W. Anderson, new president and chief executive officer, stated that: "I am pleased to have this opportunity to lead HNS into an exciting new era with the many strategic opportunities at hand. My previous industry experience and recent role at HNS lead me to believe that in spite of increased pricing pressures on some of our conventional therapies, a national service provider like HNS has a number of opportunities to help it continue to grow in excess of 25 percent annually. Reimbursement pressures for home I.V. therapy have existed within the industry for the last three years and, consequently, the managed care component of our business has increased. We have seen these trends developing and have in process specific strategic actions targeted to add new market segments to the overall HNS business to produce increased revenues at higher profit margins. We are well on our way with the strategy to develop a network of Integrated Care Centers to deliver more complex infusion therapies in alternate site settings. These centers allow us to care for patients who have previously been treated in the hospital. We expect our Integrated Care Centers to begin to produce significant revenues and profits in the fourth quarter of 1992. Also, we will carefully monitor our overall progress to see that we control our expenses during this important transition quarter."
 Anderson also stated that: "The move of the HNS corporate headquarters to Atlanta will have many immediate benefits to the HNS organization. I have seen the excellent support that the other Healthdyne divisions receive from Healthdyne's corporate staff, and HNS has not yet been able to exploit those resources to the same extent. I expect the transition to Atlanta to be smooth and rapid."
 HNS is a national provider of home infusion therapies and related alternate site services. The company is one of the oldest and largest providers of home infusion care and conducts its business through 37 regional centers, 18 satellite facilities, and 26 additional sites of service. HNS is recognized as a leader in quality care and clinical sophistication.
 -0- 7/9/92
 /CONTACT: Donald R. Millard of Home Nutritional Services, 404-423-4529/
 (HNSI HDYN) CO: Home Nutritional Services, Inc.; Healthdyne, Inc. ST: New Jersey, Georgia IN: HEA SU: ERN DIV


BR-EA -- AT006 -- 7877 07/09/92 13:28 EDT
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:Jul 9, 1992
Words:620
Previous Article:HUMANA INITIATES ACTION TOWARD CREATION OF TWO COMPANIES
Next Article:TRANSCO TO SELL OIL AND GAS SUBSIDIARY FOR $45 MILLION
Topics:


Related Articles
HOME NUTRITIONAL SERVICES ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS; APPOINTS NEW CHIEF EXECUTIVE OFFICER
CORRECTION TO HOME NUTRITIONAL SERVICES ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS; APPOINTS NEW CHIEF EXECUTIVE OFFICER
HEALTHDYNE ANNOUNCES FINAL SECOND QUARTER RESULTS
HOME NUTRITIONAL SERVICES ANNOUNCES FINAL QUARTERLY RESULTS
HEALTHDYNE AND HNS ANNOUNCE PRELIMINARY THIRD QUARTER RESULTS
HEALTHDYNE ANNOUNCES THIRD QUARTER RESULTS
HNS ANNOUNCES THIRD QUARTER RESULTS
HOME NUTRITIONAL SERVICES ANNOUNCES SECOND QUARTER RESULTS
HOME NUTRITIONAL SERVICES ANNOUNCES THIRD QUARTER RESULTS
HEALTHDYNE ANNOUNCES SECOND QUARTER RESULTS AND FORMATION OF NEW SUBSIDIARY

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters