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MEDCROSS REPORTS $61,715 PRE-TAX INCOME FOR FIRST QUARTER

 MEDCROSS REPORTS $61,715 PRE-TAX INCOME FOR FIRST QUARTER
 ST. PETERSBURG, Fla., May 18 /PRNewswire/-- Medcross, Inc. (NASDAQ: MDCR) today reported pre-tax income of $61,715 for the first quarter ended March 31, 1992. Income after taxes for the period was $8,857, compared to a loss for the 1991 first quarter of $144,662.
 Robert M. Irvin, president of Medcross, said taxes were unusually high because the company was not able to carry forward as large a tax benefit as had been anticipated.
 Revenues for the 1992 quarter of $582,955 were up 16 percent compared to the year-ago period. Irvin said the increase was due mainly to improved revenues from the company's magnetic resonance imaging (MRI) operations, which totaled $383,830 for the 1992 quarter compared to $117,550 in the 1991 quarter.
 Irvin said "the MRI average revenues per operating day increased by over 60 percent" in the 1992 period compared to 1991. He also said that MRI operating profits increased "almost 16 fold" in 1992 vs. 1991.
 Also contributing to 1992's improved first-quarter performance, Irvin said, was a reduction in expenses by almost 58 percent, due mainly to a reduction in the corporate staff that took effect in the 1991 third quarter.
 Irvin said that a $2 million infusion of investor capital announced on March 30, 1992, "greatly expands" new business opportunities for Medcross.
 MEDCROSS, INC. AND SUBSIDIARIES
 CONSOLIDATED SUMMARY STATEMENT OF OPERATIONS
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Net revenues $582,955 $502,938
 Income (loss) before minority interest
 in net income (loss) of consolidated
 subsidiaries, and income tax provision
 (benefit) 289,459 (258,574)
 Net income (loss) 8,857 (144,662)
 Income (loss) per common share -- (.02)
 Weighted average common
 shares outstanding 8,565,300 8,557,500
 -0- 5/18/92
 /CONTACT: Robert M. Irvin, president of Medcross, Inc., 813-521-1793/
 (MDCR) CO: Medcross, Inc. ST: Florida IN: HEA SU: ERN


AW-JB -- FL005 -- 1186 05/18/92 09:45 EDT
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Publication:PR Newswire
Date:May 18, 1992
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