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QUAL-MED ANNOUNCES 1991 RESULTS

 QUAL-MED ANNOUNCES 1991 RESULTS
 PUEBLO, Colo., March 4 /PRNewswire/ -- Qual-Med Inc. (NASDAQ: QLMD)


today reported that its revenues for the year ended Dec. 31, 1991, doubled to $283.4 million, compared to revenue of $142.1 million from the prior year. Earnings rose 299 percent to $18.1 million or $1.27 per share, compared to last year's earnings of $4.6 million or $.45 per share.
 For the fourth quarter ended Dec. 31, Qual-Med reported revenues of $70.7 million for an increase of 85 percent over revenues of $38.1 million for the same period a year ago. Earnings for the fourth quarter increased 180 percent to $4.2 million or $.25 per share, compared to last year's fourth quarter earnings of $1.5 million or $.15 per share.
 "Included in the consolidated results are those of HEALS, our California HMO, which has been very profitable during its first year since acquisition and contributed 41 percent of our revenues and 54 percent of our net income in 1991", said Dr. Malik Hasan, chairman, president and chief executive officer.
 "During the fourth quarter, we intensified our focus on internal marketing and acquisition activities, as well as on strengthening various areas of administration to accommodate planned new business. As a result, the company incurred additional incremental expenditures in the fourth quarter of approximately $1.7 million or $.06 per share and the equivalent of $.07 per share impact on the earnings for the calendar year. We fully expect that the investments in these activities will lead to future growth," he said.
 Qual-Med, headquartered in Pueblo, provides comprehensive health care services to approximately 222,000 members as of Dec. 31, 1991, in California, Colorado, Idaho, New Mexico, Oregon and Washington. Its members pay a fixed monthly premium for services rendered and choose among a broad network of independent primary care physicians.
 QUAL-MED INC.
 Year (12 months) Ended Dec. 31
 1991 1990
 Revenues $283,437,000 $142,085,000
 Net Income $18,140,000 $4,550,000
 Average Shares 14,337,307 10,113,616
 Net Income(a) Per Share $1.27 $0.45
 QUAL-MED, INC.
 Quarter (three months) Ended December 31
 1991 1990
 Revenues $70,657,000 $38,111,000
 Net Income $4,191,000 $1,497,000
 Average Shares 16,973,387 10,324,138
 Net Income(a) Per Share $0.25 $0.15
 (a) Primary
 -0- 3/4/92
 /CONTACT: Keith Hovland, executive VP-Finance and Administration, Qual-Med Inc., 719-542-0500/
 (QLMD) CO: Qual-Med Inc. ST: Colorado IN: HEA SU: ERN


JL-KJ -- LA004 -- 4790 03/04/92 08:30 EST
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Date:Mar 4, 1992
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