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RAMSAY HEALTH CARE, INC. ANNOUNCES THIRD QUARTER RESULTS AND ELECTS NEW DIRECTOR

 NEW ORLEANS, May 7 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced operating results for the quarter and the nine months ended March 31.
 Net revenues were $35.8 million for the quarter ended March 31 as compared with $35.5 million for the prior-year period. Increased outpatient revenues offset lower inpatient revenues caused by declining reimbursement for inpatient stays.
 Revenues for the nine months ended March 31 were $98.5 million as against $100.8 million for the prior-year period, representing a 2 percent decrease.
 Income before extraordinary items was $1,299,000 or $0.17 per share for the quarter ended March 31 compared to $1,985,000 or $0.25 per share for the comparable prior-year quarter, and $1,785,000 or $0.23 per share for the nine months ended March 31 as against $3,401,000 or $0.43 per share for the comparable nine month period in the previous year.
 Net income was $1,765,000 or $0.23 per share for the quarter ended March 31 compared to $2,357,000 or $0.29 per share for the comparable prior-year quarter and $2,480,000 or $0.32 per share for the nine months ended March 31 as against $3,960,000 or $0.50 per share for the period ended March 31, 1992.
 Gregory H. Browne, Chief Executive Officer, commented: "While the decline in inpatient revenues has started to moderate, outpatient revenues are starting to grow towards the levels we feel are appropriate, given the recent trends in the delivery of mental health care. However, the company still has to become more efficient in the delivery of its services."
 Browne also stated that the company has recently leased its facility in Fort Walton Beach, Fla., to another health care provider. That facility had been the company's only facility which did not generate an operating profit in the last 12 months. The company is evaluating the strategic direction of certain of its other facilities which could impact the recorded value of those facilities.
 The company also announced that Luis E. Lamela has been elected as a director of the company, effective April 30. Lamela is currently the Chief Executive Officer of Ramsay HMO, Inc. Browne stated, "We are very pleased to have the benefit of Mr. Lamela's managed care experience as we move into the era of healthcare reform."
 The company is cooperating with the state of Texas in its ongoing evaluation of mental health care providers in that state. In this spirit of cooperation, the company may sign a consent whereby it agrees to continue its ethical practices and not deviate therefrom.
 Ramsay Health Care, Inc., one of the largest providers of psychiatric care in the United States, operates 18 inpatient facilities in 12 states with a total of over 1,500 beds, as well as three free- standing day treatment facilities.
 RAMSAY HEALTH CARE, INC.
 Unaudited Financial Results
 Qtr. ended March 31 1993 1992
 $ Pct. $ Pct.
 Net revenues $35,827,000 100.00 $35,505,000 100.00
 Operating expenses:
 Salaries, wages and benefits 16,519,000 46.11 15,713,000 44.26
 Other operating expenses 10,536,000 29.41 10,500,000 29.57
 Provision for doubtful accts. 2,461,000 6.87 2,321,000 6.54
 Depreciation and amortization 1,744,000 4.87 1,399,000 3.94
 Interest 2,400,000 6.70 2,257,000 6.36
 Loss on closure of hospital --- 0.00 --- 0.00
 Restructuring charges --- 0.00 --- 0.00
 Total operating expenses 33,660,000 93.95 32,190,000 90.66
 Income before income taxes
 and extraord. items 2,167,000 6.05 3,315,000 9.34
 Provision for income taxes 868,000 2.42 1,330,000 3.75
 Income before extraord. items 1,299,000 3.63 1,985,000 5.59
 Extraord. item -- utilization
 of net operating loss
 carryovers 466,000 1.30 372,000 1.05
 Extraord. item -- loss from
 early extinguishment of debt --- 0.00 --- 0.00
 Total 466,000 1.30 372,000 1.05
 Net income $1,765,000 4.93 $2,357,000 6.64
 Primary earnings per share
 Before extraord. items $0.17 $0.25
 Extraord. items 0.06 0.04
 Total $0.23 $0.29
 Weighted avg. shares outst. 7,864,000 8,068,000
 9 mos. ended March 31 1993 1992
 $ Pct. $ Pct.
 Net revenues $98,521,000 100.00$100,828,000 100.00
 Operating expenses:
 Salaries, wages and benefits 46,323,000 47.02 45,443,000 45.07
 Other operating expenses 29,574,000 30.02 29,072,000 28.83
 Provision for doubtful accts. 6,524,000 6.62 6,078,000 6.03
 Depreciation and amortization 4,849,000 4.92 4,052,000 4.02
 Interest 7,137,000 7.24 8,185,000 8.12
 Loss on closure of hospital 1,109,000 1.13 --- 0.00
 Restructuring charges --- 0.00 2,283,000 2.26
 Total operating expenses 95,516,000 96.95 95,113,000 94.33
 Income before income taxes
 and extraord. items 3,005,000 3.05 5,715,000 5.67
 Provision for income taxes 1,220,000 1.24 2,314,000 2.29
 Income before extraord. items 1,785,000 1.81 3,401,000 3.37
 Extraord. item -- utilization
 of net operating loss
 carryovers 695,000 0.71 925,000 0.92
 Extraord. item -- loss from
 early extinguishment of debt --- 0.00 (366,000) (0.36)
 Total 695,000 0.71 559,000 0.55
 Net income $2,480,000 2.52 $3,960,000 3.93
 Primary earnings per share
 Before extraord. items $0.23 $0.43
 Extraord. items 0.09 0.07
 Total $0.32 $0.50
 Weighted avg. shares outst. 7,881,000 7,863,000
 RAMSAY HEALTH CARE, INC.
 Period Ending Period Ending Percent
 Quarterly Data 3/31/93 3/31/92 change
 Company
 Admissions 3,482 3,402 2.35
 Patient Days 64,824 63,530 2.04
 Gross Outpatient Revenue $4,594,000 $1,709,000 168.81
 Same Store
 Admissions 3,249 3,106 4.60
 Patient Days 57,917 58,647 (1.24)
 Gross Outpatient Revenue $4,229,000 $1,489,000 184.02
 Average length of stay 17.36 18.54 (6.36)
 Nine Month Data
 Company
 Admissions 9,630 8,929 7.85
 Patient Days 172,484 177,580 (2.87)
 Gross Outpatient Revenue $11,670,002 $4,052,070 188.00
 Same Store
 Admissions 9,012 8,474 6.35
 Patient Days 161,010 168,018 (4.17)
 Gross Outpatient Revenue $9,746,000 $3,773,000 158.31
 Average length of stay 18.13 20.10 (9.80)
 -0- 5/7/93
 /CONTACT: Gregory H. Browne, President and Chief Executive Officer of Ramsay Health Care, 504-525-2505/
 (RHCI)


CO: Ramsay Health Care, Inc. ST: Louisiana IN: HEA SU: ERN

BN-BR -- AT003 -- 5857 05/07/93 10:26 EDT
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