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MEDIQ/PRN LIFE SUPPORT SERVICES, INC. REPORTS RESULTS

 PENNSAUKEN, N.J., Dec. 14 /PRNewswire/ -- MEDIQ/PRN Life Support Services, Inc., a wholly owned subsidiary of MEDIQ Incorporated (AMEX: MED), today reported operating results for the fiscal year and the three months ended Sept. 30, 1993, compared to the same periods in the prior year.
 Revenues for the fiscal year ended Sept. 30, 1993, increased to $76,527,000, a gain of 34 percent over revenues of $56,898,000 for the same period in the prior year. Earnings before interest expense, income taxes, depreciation and amortization (EBITDA) improved to $30,540,000, a 53 percent increase compared to $19,954,000 in the same period last year. Earnings before interest expense and income taxes (EBIT) increased to $13,163,000 from $9,013,000. Net loss for the fiscal year ended Sept. 30, 1993, was $263,000, compared to the net loss of $3,327,000 for the fiscal year ended Sept. 30, 1992. Net loss for the fiscal year ended Sept. 30, 1993, included an extraordinary charge of $101,000 while the net loss for the fiscal year ended Sept. 30, 1992, included an extraordinary charge of $3,606,000 which represented premiums on the early extinguishment of debt.
 Revenues for the three months ended Sept. 30, 1993, were $17,003,000, a decrease of 13 percent from revenues of $19,627,000 in the prior year quarter. EBITDA decreased 23 percent to $5,998,000 from $7,817,000 last year. EBIT decreased to $1,196,000 from $4,185,000. Net loss for the quarter was $1,403,000 compared to a net loss of $350,000 in the prior year quarter. The net loss in the prior year quarter included an extraordinary charge of $624,000.
 MEDIQ/PRN is the largest provider in the United States of life support and critical care medical equipment to hospitals, home healthcare providers and alternate care facilities on a rental basis.
 MEDIQ/PRN LIFE SUPPORT SERVICES, INC.
 Operating Results
 (In thousands)
 Periods ended Fiscal year Three months
 Sept. 30 1993 1992 1993 1992
 Revenues $76,527 $56,898 $17,003 $19,627
 Earnings before interest
 expense, income taxes,
 depreciation and
 amortization (EBITDA) 30,540 19,954 5,998 7,817
 Earnings before interest
 expense and income taxes
 (EBIT) 13,163 9,013 1,196 4,185
 Income (loss) before
 income taxes 548 1,121 (2,040) 1,046
 Income (loss) before
 extraordinary charge (162) 279 (1,403) 274
 Extraordinary charge (101) (3,606) --- (624)
 Net (loss) (263) (3,327) (1,403) (350)
 /delval/
 -0- 12/14/93
 /CONTACT: Michael F. Sandler, treasurer of MEDIQ/PRN Life Support Services, 609-665-9399/
 (MED)


CO: MEDIQ/PRN Life Support Services; MEDIQ Incorporated ST: New Jersey IN: HEA SU: ERN

MK-MP -- PH019 -- 3681 12/14/93 13:09 EST
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Publication:PR Newswire
Date:Dec 14, 1993
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