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PREMIER ANESTHESIA DOUBLES THIRD QUARTER EARNINGS PER SHARE; 5 NEW CONTRACTS IN THIRD QUARTER; 2 NEW CONTRACTS THUS FAR IN FOURTH QUARTER

 PREMIER ANESTHESIA DOUBLES THIRD QUARTER EARNINGS PER SHARE; 5 NEW


CONTRACTS IN THIRD QUARTER; 2 NEW CONTRACTS THUS FAR IN FOURTH QUARTER
 ATLANTA, Oct. 27 /PRNewswire/ -- Premier Anesthesia, Inc. (NASDAQ: PRAN), the nation's leading provider of contract anesthesia services to hospitals and clinics, today announced its 15th consecutive quarter of record revenues and net income for the three and nine month periods ended Sept. 30, 1992. Founded in 1988, this is Premier's second full quarter as a public company following an initial public offering in March of this year.
 Net revenues for the quarter were $15.4 million, up 41.9 percent from the $10.9 million reported for the third quarter of 1991. Net income amounted to $682,000, or 8 cents per share as compared with $242,000, or 4 cents per share, in the respective 1991 quarter. While net income was up 181.8 percent, 1992 over 1991, an increase in the average shares outstanding -- a direct result of the March IPO -- held the gain in earnings per share to 100 percent.
 For the first nine months of 1992, net revenues increased 45.2 percent to $42.3 million, up from $29.1 million in the comparable 1991 period. Net income in the same period climbed 153.6 percent to $1.6 million, or 19 cents per share, up from $627,000, or 10 cents per share, as reported a year ago.
 MANAGEMENT COMMENTS
 Richard D. Ballard, president and chief executive officer, outlined three key factors which contributed to the quarterly and year to date gains. "First, Premier's operating efficiencies continue to improve; gains in gross margin and tight fiscal controls yielded a 120 percent increase in operating income versus a year ago. Second, our IPO allowed us to pay down debt, reducing interest expense by 39 percent; concurrently, the balance of the offering's proceeds have generated substantial interest income. Third, the fact that we signed five new contracts in the quarter, increasing the total number of contracts in force from 28 to 33, an 18 percent increase, contributed to our overall performance.
 "Interest in our contract anesthesia services continues to run high. Thus far in the fourth quarter, we have signed two additional contracts, with a third contract awaiting final hospital board approval. This bodes well for the balance of the year.
 "At the beginning of the fourth quarter, a contract which we had expected to terminate did in fact terminate; however, it was not material to operations or our financial position. The termination was due to a general weakness in the hospital's health care markets and overall financial position," Ballard explained.
 PROFILE
 Premier's primary target market for contract anesthesia services and products continues to be the 3,800 hospitals that have at least 100 beds and large practice surgical clinics which generally perform 2,000 or more surgical procedures a year. These in turn generate the majority of the nation's annual $10 billion in billings for anesthesia services.
 Management believes this represents an enormous opportunity to employ capital raised in its IPO.
 The company provides clients with comprehensive anesthesia services 24 hours a day, 365 days a year. Premier manages recruiting in the anesthesia department, handles medical staff relations, performs all billing and record keeping services, provides malpractice coverage and monitors current legal and reimbursement issues for its clients.
 Premier Anesthesia, Inc. is the leading multi-state provider of contract anesthesia services to hospitals in the United States. Founded in 1988, the company has grown from $1.1 million to $40.5 million in annual revenues in 1991 and has been profitable since its first full year of operation in 1989.
 PREMIER ANESTHESIA, INC.
 FINANCIAL HIGHLIGHTS
 THIRD QUARTER, 1992
 (Dollars in thousands, except per share data)
 Three Months Ended Nine Months Ended
 SEPTEMBER 30, SEPTEMBER 30,
 1992 1991 1992 1991
 STATEMENT OF INCOME DATA
 Net revenue $15,415 $10,863 $42,307 $29,128
 Operating income 658 300 1,504 982
 Other income
 (expenses) 479 108 1,149 68
 Income taxes 456 166 1,064 424
 Net income 682 242 1,589 627
 Earnings per share .08 .04 .19 .10
 -0- 10/27/92
 /NOTE TO EDITORS: To receive the latest information about Premier Anesthesia via FAX, at no cost, dial 1-800-PRO-INFO, code 073./
 /CONTACT: Richard Ballard, president and chief financial officer of Premier Anesthesia, Inc., 404-458-4842; or Gary Strong or Nick Farina, 312-266-7800; or Kathy Phelan, 212-661-8030, all of the Financial Relations Board, for Premier Anesthesia, Inc./
 (PRAN) CO: Premier Anesthesia, Inc. ST: Georgia IN: MTC SU: ERN


PS -- NY075 -- 5418 10/27/92 12:55 EST
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Date:Oct 27, 1992
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