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RAMSAY HEALTH CARE ANNOUNCES FIRST QUARTER FISCAL 1993 RESULTS

 RAMSAY HEALTH CARE ANNOUNCES FIRST QUARTER FISCAL 1993 RESULTS
 NEW ORLEANS, Nov. 4 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced its operating results for its first quarter of fiscal 1993.
 Income before extraordinary items was $171,000, or $0.02 per share for the quarter ended September 30, 1992, compared to $1,003,000, or $0.14 per share for the comparable prior year quarter. The fiscal 1993 quarter's results include an after-tax charge of approximately $650,000, or $0.08 per share, relating to the closure of a hospital previously announced on October 9, 1992.
 Net income was $248,000, or $0.03 per share for the quarter ended September 30, 1992 and $1,513,000 in the same quarter in the previous year. Net revenues were $31.4 million for both periods.
 Gregory H. Browne, president and chief executive officer, commented that "the company was encouraged by the rapid growth in out-patient revenues and expects to see continued growth in this area. This has enabled the company to maintain its level of net revenue. Same store in-patient days have continued to decline as a result of a decline in average lengths of stay, although it is pleasing to note that admissions continue to show year on year increases."
 The company has recently acquired a small psychiatric hospital in Louisiana to address an expanding state funded market. Browne commented that "the company is pursuing relationships with government departments in various states and believes this represents a significant area of opportunity."
 The company has seen solid growth in its free standing psychiatric day hospital division and will continue to expand its investment in this area during fiscal 1993.
 Ramsay Health Care, Inc. operates 18 in-patient facilities in 12 states with a total of 1,586 beds and is one of the largest providers of psychiatric care in the United States.
 RAMSAY HEALTH CARE, INC.
 STATISTICS
 SEPT. SEPT.
 QUARTER QUARTER PCT.
 COMPANY 1992 1991 CHG.
 Admissions 3,043 2,751 10.6
 Average length of stay 18.10 21.09 (14.2)
 Patient days 51,661 54,336 (4.9)
 Gross outpatient revenue $3,245,000 $1,081,000 200.0
 SAME STORE(a)
 Admissions 2,816 2,681 5.0
 Average length of stay 18.32 20.97 (12.6)
 Patient days 48,444 52,352 (7.5)
 Gross outpatient revenue $2,779,000 $1,081,000 157.1
 (a) Excludes one hospital whose in-patient unit was closed in the most recent quarter.
 RAMSAY HEALTH CARE, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 (unaudited)
 Quarter Ended Sept. 30
 1992 1991
 Net revenues $31,413,000 $31,398,000
 Operating expenses:
 Salaries, wages and benefits 14,443,000 14,090,000
 Other operating expenses 9,838,000 9,277,000
 Provision for doubtful accounts 1,865,000 1,684,000
 Depreciation and amortization 1,515,000 1,352,000
 Interest 2,349,000 3,338,000
 Loss from closure of hospital 1,109,000 ---
 Total operating expenses 31,119,000 29,741,000
 Income before income taxes
 and extraordinary item 294,000 1,657,000
 Provision for income taxes 123,000 654,000
 Income before extraordinary item 171,000 1,003,000
 Extraordinary item - reduction in
 federal and state income taxes
 arising from net operating loss
 carryovers 77,000 510,000
 Net income $ 248,000 $ 1,513,000
 Income per common and dilutive common equivalent share:
 Primary:
 Before extraordinary item $ 0.02 $ 0.14
 Extraordinary item 0.01 0.07
 Total $ 0.03 $ 0.21
 Fully diluted:
 Before extraordinary item $ 0.02 $ 0.12
 Extraordinary item 0.01 0.06
 Total $ 0.03 $ 0.18
 Weighted average number of shares outstanding:
 Primary 7,890,000 7,367,000
 Fully diluted 7,890,000 8,314,000
 -0- 11/4/92
 /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


BR-TG -- AT002 -- 2337 11/04/92 09:17 EST
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Date:Nov 4, 1992
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