Printer Friendly

MAXUM REPORTS PERFORMANCE IMPROVEMENTS

 MAXUM REPORTS PERFORMANCE IMPROVEMENTS
 DALLAS, July 29 /PRNewswire/ -- Maxum Health Corp. (AMEX: MXH)


today reported results for the second quarter ended June 30, 1992. Revenues for the period reached $10.2 million, up 16 percent from $8.8 million for the second quarter last year. An anticipated loss of $384,000 or ($.14) per share this year compared favorably with a net loss applicable to common stock of $408,000, or ($.32) per share during the second quarter of 1991, and was a reduction as well from the first quarter 1992 loss of $666,000, or ($.24) per share.
 Maxum's Chairman and Chief Executive Officer, William L. MacKnight, commented, "In June, the cumulative effect of the company's operating improvements was demonstrated in a return to profitability. We're fully deploying assets, and average number of procedures across all our magnetic resonance imaging systems (MRI) has increased. Acquisitions are performing at or above our expectations, and new project starts are back on schedule. Finally, we've completed field engineer training to service our own GE equipment, which should reduce future maintenance costs."
 Maxum Health Corp. owns and operates imaging centers and provides diagnostic imaging and lithotripsy under service contracts with nearly 150 hospitals.
 MAXUM HEALTH CORP., Financial Summary
 (Dollars in thousands, except per share data, unaudited)
 Three Months Ended Increase (Decrease)
 June 30, Over 1991
 1992 1991 In Dollars Pct.
 Revenues:
 Patient services $8,354 $6,336 $2,018 32
 Lease and other 1,845 2,447 (602) (25)
 Total revenues 10,199 8,783 1,416 16
 Costs and expenses:
 Employee compensation
 and benefits 3,077 2,361 716 30
 Equipment maintenance
 and operation 1,087 955 132 14
 Equipment leases 2,256 1,480 776 52
 Depreciation and
 amortization 1,621 1,991 (370) (19)
 Other operating
 expenses 2,176 1,225 951 78
 Total 10,217 8,012 2,205 28
 Income (loss) from
 Company operations (18) 771 (789) --
 Equity in earnings of
 partnerships 296 (44) 340 (773)
 Operating income 278 727 (449) (62)
 Interest Expense (662) (1,056) 394 37
 Net loss (384) (329) (55) (17)
 Preferred stock
 dividends -- (79) 79 --
 Loss applicable to
 common stock $ (384) $ (408) $ 24 --
 Per Share Data:
 Loss per common
 share $ (0.14) $ (0.32) -- --
 Weighted average
 common shares
 outstanding 2,802,113 1,284,000 -- --
 Six Months Ended Increase (Decrease)
 June 30, Over 1991
 1992 1991 In Dollars Pct.
 Revenues:
 Patient services $16,010 $12,439 $3,571 29
 Lease and other 3,685 4,114 (429) (10)
 Total revenues 19,695 16,553 3,142 19
 Costs and expenses:
 Employee compensation
 and benefits 6,124 4,691 1,433 31
 Equipment maintenance
 and operation 2,110 1,685 425 25
 Equipment leases 4,576 2,707 1,869 69
 Depreciation and
 amortization 3,179 3,961 (782) (20)
 Other operating
 expenses 4,052 2,486 1,566 63
 Total 20,041 15,530 4,511 29
 Income (loss) from
 Company operations (346) 1,023 (1,369) --
 Equity in earnings of
 partnerships 636 49 587 1,198
 Operating income 290 1,072 (782) (73)
 Interest Expense (1,340) (2,114) 774 37
 Net loss (1,050) (1,042) (8) (1)
 Preferred stock
 dividends -- (158) 158 --
 Loss applicable to
 common stock $(1,050) $(1,200) $ 150 --
 Per Share Data:
 Loss per common
 share $ (0.38) $ (0.93) -- --
 Weighted average
 common shares
 outstanding 2,799,057 1,284,000 -- --
 -0- 7/29/92
 /CONTACT: Nancy J. Corday senior vice president of Maxum Health Corp., 214-716-6200/
 (MXH) CO: Maxum Health Corp. ST: Texas IN: HEA SU: ERN


LD -- NY111 -- 4787 07/29/92 16:53 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 29, 1992
Words:600
Previous Article:WYOMING CLEAN COAL TECHNOLOGY PROJECT MOVES TO FULL-SCALE OPERATIONS
Next Article:MTS SYSTEMS ANNOUNCES RESULTS
Topics:


Related Articles
MAXUM HEALTH CORP. TO ACQUIRE IMAGING CENTER
MAXUM HEALTH CORP. SHARES REPURCHASED
MAXUM REPORTS THIRD QUARTER EARNINGS
MAXUM HEALTH CORP. ON TARGET WITH FOURTH QUARTER EXPECTATIONS; ANNOUNCES KEY APPOINTMENTS
MAXUM HEALTH CORP. ANNOUNCES FOURTH QUARTER CHARGE AND RESTRUCTURING
MAXUM HEALTH CORP. REPORTS IMPROVED THIRD QUARTER RESULTS
MAXUM HEALTH CORP. ANNOUNCES MAJOR HMO CONTRACT AWARD
MAXUM HEALTH CORP. ANNOUNCES FIRST QUARTER RESULTS AND COMPLETION OF TWO ACQUISITIONS
MAXUM HEALTH CORP. ANNOUNCES SECOND QUARTER RESULTS
Apple Internet Server Solution to Feature Maxum Internet Packages

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters