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PRIME MEDICAL SERVICES, INC. ANNOUNCES SHARPLY IMPROVED RESULTS FOR THE THIRD QUARTER

 AUSTIN, Texas, Nov. 16 ~PRNewswire~ -- Prime Medical Services, Inc. (NASDAQ: PMSI) today announced that its net income for the quarter ended Sept. 30, 1992 was $589,000 compared to $73,000 for the same period last year, a $516,000 (807 percent) increase. Revenues for the quarter ended Sept. 30, 1992 were $5,406,000 compared to $3,116,000 for the same period last year, a $2,290,000 (173 percent) increase.
 Prime also reported that its net income for the nine months ended Sept. 30, 1992 was $1,219,000 compared to $181,000 for the same period last year, a $1,038,000 (673 percent) increase. Revenues for the nine months ended Sept. 30, 1992 were $13,625,000 compared to $9,542,000 for the same period last year, a $4,083,000 (143 percent) increase. Earnings per share for the nine months ended Sept. 30, 1992 were $.12 compared to $.02 for the same period last year.
 These increases were primarily attributable to the acquisitions of three diagnostic imaging centers and a license relating to the use of a lithotripter in Birmingham, Ala. The acquisition of one imaging center was effective Jan. 1, 1992 and the acquisitions of the other two centers were effective June 1, 1992. The acquisition of the license to operate the lithotripter was effective April 1, 1992.
 Jackie Majors, president, stated, "We are extremely pleased at the significant growth in earnings which Prime has experienced as a result of the acquisitions made earlier this year. We are excited about the addition of lithotripsy centers to our business line and are actively pursuing expansion of our involvement in this dynamic field, initially through acquisitions. As previously announced, we have signed an agreement in principle for the acquisition of a second lithotripsy operation which we hope to have finalized in early 1993."
 Majors concluded, "Recognizing the growing importance of cost containment in the health care field, we believe that our strategy of focusing on non-invasive medical applications that are designed to minimize patient expense will significantly aid the company's growth."
 Prime Medical is in the business of owning and providing management services to diagnostic imaging, cardiac rehabilitation and lithotripsy centers.
 PRIME MEDICAL SERVICES, INC.
 Selected Financial Data
 (In thousands, except per share data)
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 Revenues $5,406 $3,116 $13,625 $9,542
 Net income $ 589 $ 73 $ 1,219 $ 181
 Earnings per share
 (Fully Diluted) $ 0.05 $ 0.01 $ 0.12 $ 0.02
 Weighted Average
 Shares 10,845 8,546 9,975 8,456
 -0- 11~16~92
 ~CONTACT: Jackie Majors, president, 601-969-9193, or Cheryl McLeod, chief financial officer, 512-328-2892, of Prime Medical Services, Inc.~
 (PMSI)


CO: Prime Medical Services, Inc. ST: Texas IN: HEA SU: ERN

SM -- NY049 -- 1227 11~16~92 11:31 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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