Printer Friendly

RAMSAY HEALTH CARE, INC. REVISES EARNINGS EXPECTATIONS

 RAMSAY HEALTH CARE, INC. REVISES EARNINGS EXPECTATIONS
 NEW ORLEANS, Feb. 3 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced that operating earnings for the quarter ended Dec. 31, 1991, and for its fiscal year ending June 30, 1992, would be below those of the previous fiscal year.
 In the quarter ended Dec. 31, 1991, Ramsay Health Care, Inc. expects to announce earnings of $0.22 to $0.26 per share before non-recurring charges and write-offs of approximately $0.25 per share. These relate to provisions for redundancy and severance packages, as well as write-offs of deferred loan costs and costs associated with a hospital joint venture.
 The company projects that earnings per share before extraordinary items and other non-recurring charges for the 1992 fiscal year would be in the range of $0.85 to $1.15.
 Gregory H. Browne, the company's new president and chief executive officer, stated that: "Despite solid increases in admissions of around 10 percent, the combination of shorter lengths of stay when compared to the same period in fiscal 1991, increases in operating costs, and adverse publicity surrounding the industry had impacted the results. However, the company's cash flow remains at a level consistent with the 1991 fiscal year, and when combined with the strong balance sheet, provides a solid foundation for the future."
 Browne added: "The company is taking immediate steps to bring operating costs in line with expected revenue, as well as actively pursuing revenue enhancements through facility sharing arrangements. Further, we expect to continue development of other service delivery models considered more in line with the needs of today's health care environment."
 Ramsay Health Care, Inc. is one of the largest providers of psychiatric care throughout the United States.
 -0- 2/3/92
 /CONTACT: Gregory H. Browne, chief executive officer of Ramsay Health Care, 504-525-2505/
 (RHCI) CO: Ramsay Health Care, Inc. ST: Louisiana IN: HEA SU:


CF-BR -- AT003 -- 6024 02/03/92 09:18 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 3, 1992
Words:323
Previous Article:HORNE'S LONG-RANGE FUTURE ASSURED BY DEBT RESTRUCTURING AGREEMENT
Next Article:BOEHRINGER INGELHEIM REACHES CO-PROMOTIONAL AGREEMENT WITH 3M PHARMACEUTICALS FOR ATROVENT (IPRATROPIUM BROMIDE)
Topics:


Related Articles
RAMSAY HEALTH CARE, INC. ANNOUNCES BANK CREDIT FACILITY
RAMSAY HEALTH CARE, INC. ANNOUNCES FOURTH QUARTER CHARGE AND DISCUSSIONS ON SALE OF HOSPITAL
UNITED HEALTHCARE REPORTS FIRST QUARTER RESULTS: NET EARNINGS UP 50 PERCENT IN 22ND CONSECUTIVE RECORD QUARTER
UNITED HEALTHCARE REPORTS RECORD YEAR AND FOURTH QUARTER 1994'S $1.77 NET EPS FROM OPERATIONS UP 44 PERCENT OVER 1993'S $1.23
Ramsay Health Care, Inc. Announces Second Quarter Results
Ramsay Health Care, Inc. and Ramsay Managed Care, Inc. Announce Special Meetings of Stockholders to Approve Merger
/C O R R E C T I O N - Omega Health Systems/(Correction Notice)
Ramsay Health Care, Inc. Closes $60 Million Financing
Ramsay Health Care, Inc. Announces First Quarter Results
Horizon Health Care Corporation and Ramsay Health Care, Inc. Announce the Sale of FPM Behavioral Health, Inc.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters