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LINCARE HOLDINGS ANNOUNCES RECORD FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS

 CLEARWATER, Fla., Feb. 10 /PRNewswire/ -- Lincare Holdings Inc. (NASDAQ: LNCR) today announced record revenues, net income, and net income per share for the quarter and year-ended Dec. 31, 1992.
 Revenues for the fourth quarter ended Dec. 31, 1992, were $32,208,000, an increase of 28 percent over fourth quarter 1991 revenues of $25,079,000. Net income for the quarter ended Dec. 31, 1992, was $5,233,000, or $0.38 per share, and compares with net income of $1,072,000, or $0.11 per share, for the fourth quarter of 1991.
 For its fiscal year ended Dec. 31, 1992, revenues were $117,403,000, an increase of 32 percent over revenues of $88,634,000 for 1991. Income before extraordinary item for the year ended Dec. 31, 1992, was $16,139,000, or $1.27 per share, and compares with net income of $2,847,000, or $0.30 per share, for 1991. Net income for the year ended Dec. 31, 1992, was $15,139,000, or $1.19 per share.
 "We are extremely pleased with the results for 1992," said James T. Kelly, Lincare's CEO. "Lincare's strong financial performance reflects the excellent growth of our existing operating centers which was complemented well by our acquisition program. Internal growth and acquisitions contributed approximately 16 percent each to revenue growth in 1992. Since Lincare's initial public stock offering in March 1992, we acquired eight companies with a total of approximately $12 million of revenue on an annual basis. Our financial position is very strong, and we believe we are well positioned to take advantage of the market opportunities which will be present in 1993."
 Lincare completed an initial public offering of 3,852,500 shares of common stock in March 1992 and a second offering of 1,725,000 shares of common stock in December 1992. In connection with the initial public offering, Lincare recorded a one-time extraordinary expense, net of taxes, of $1,000,000, or $0.08 per share, associated with the early extinguishment of debt.
 Lincare, headquartered in Clearwater, Fla., is one of the nation's largest providers of oxygen and other respiratory therapy services to patients in the home, operating 115 centers which provide services and equipment to over 35,000 customers in 27 states.
 LINCARE HOLDINGS INC.
 Financial Summary
 Three months ended
 Dec. 31 1992 1991
 Net revenue $32,208,000 $25,079,000
 Net income $ 5,233,000 $ 1,072,000
 Income per common share:
 Net income $ .38 $ .11
 Weighted average number of
 common shares and common
 share equivalents outstanding 13,677,020 9,597,742
 Year ended
 Dec. 31 1992 1991
 Net revenues $117,403,000 $88,634,000
 Income before extraordinary item $ 16,139,000 $ 2,847,000
 Net income $ 15,139,000 $ 2,847,000
 Income per common share:
 Income before extraordinary item $1.27 $ .30
 Net income $1.19 $ .30
 Weighted average number of
 common shares and common
 share equivalents outstanding 12,666,788 9,356,506
 -0- 2/10/93
 /CONTACT: James M. Emanuel of Lincare Holdings, 813-530-7700/
 (LNCR)


CO: Lincare Holdings Inc. ST: Florida IN: HEA SU: ERN

WB -- NY093 -- 5381 02/10/93 17:16 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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