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MAXUM HEALTH CORP. REPORTS THIRD QUARTER LOSS

 DALLAS, Nov. 12 /PRNewswire/ -- Maxum Health Corp. (AMEX: MXH) today released results for the third quarter and nine months ended Sept. 30, 1993. Revenues were up 5 percent and 8 percent to $12.5 million and $34.0 million for the third quarter and nine months, respectively as compared to the same periods in the prior year. The net loss was $1.1 million (or $0.36 per share) and $6.3 million (or $2.16 per share) for the third quarter and nine months, respectively, compared with a net income of $0.1 million (or $0.05 per share) for the third quarter, and a net loss of $0.9 million (or $0.32 per share) for nine months in the prior year.
 Douglas Drumwright, Maxum's president and chief executive officer, commented by saying, "The company's efforts to restructure its debt and lease obligations continue. Final agreements have not yet been reached. However, some of these negotiations may be completed and announced by the end of the year. In addition to restructuring financial obligations, the company continues its overhead reduction efforts. We continue to focus on increasing revenues at the company's fixed site imaging operations and technical services business, while confronting the challenges facing the mobile MRI service industry."
 Maxum Health Corp. presently owns and operates imaging centers and provides diagnostic imaging and lithotripsy under service contracts with approximately 200 hospitals.
 MAXUM HEALTH CORP.
 Financial Summary
 (Dollars in thousands, except per share data)
 Three Months Ended Sept. 30,
 1993 1992
 Percent of Percent of
 Amount Revenues Amount Revenues
 Total revenues $12,489 100 $11,912 100
 Total costs of
 operations 12,371 99 10,068 85
 Gross profit (loss) 118 1 1,844 15
 General and
 administrative
 expenses 805 6 1,398 12
 Income (loss) from
 Company operations (687) (5) 446 3
 Equity in earnings of
 partnerships 124 1 300 3
 Operating income
 (loss) (563) (4) 746 6
 Interest expense, net 490 4 611 5
 Net income (loss) $(1,053) (8) $ 135 1
 Net earnings (loss)
 per common share $ (0.36) $ 0.05
 Weighted average
 common shares
 outstanding 2,921,702 2,980,862
 Nine Months Ended Sept. 30,
 1993 1992
 Percent of Percent of
 Amount Revenues Amount Revenues
 Total revenues $33,964 100 $31,471 100
 Total costs of
 operations 35,695 105 26,925 86
 Gross profit (loss) (1,731) (5) 4,546 14
 General and
 administrative
 expenses 3,402 10 4,583 14
 Income (loss) from
 Company operations (5,133) (15) (37) 0
 Equity in earnings of
 partnerships 408 1 936 3
 Operating income
 (loss) (4,725) (14) 899 3
 Interest expense, net 1,562 5 1,184 6
 Net income (loss) $(6,287) (19) $ (915) (3)
 Net earnings (loss)
 per common share $ (2.16) $ (0.32)
 Weighted average
 common shares
 outstanding 2,907,816 2,823,795
 -0- 11/12/93
 /CONTACT: Glenn P. Cato, senior vice president and chief financial officer of Maxum Health Corp., 214-716-6254/
 (MXH)


CO: Maxum Health Corp. ST: Texas IN: HEA SU: ERN

TW -- NY083 -- 3877 11/12/93 16:36 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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