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REHABCLINICS, INC. REVENUES INCREASE 64 PERCENT

 KING OF PRUSSIA, Pa., Aug. 10 /PRNewswire/ -- RehabClinics, Inc. (NASDAQ: RCH) announced continuation of its rapidly increasing quarterly results for the second quarter ended June 30, 1993. Net revenues grew 64 percent for the quarter to $17,989,000 compared with $10,942,000 the prior year. Gross profits reached $7,176,000 and operating profits were $2,702,000, compared with $4,170,000 and $877,000 in the second quarter of 1992. Net income available to common stock and earnings per share of common stock were $1,058,000 and $.13 for the most recent quarter, compared with $3,000 and $.00 for the same period a year ago.
 During the most recent quarter, RCI acquired eight outpatient therapy businesses. "I am very pleased that we have been able to maintain our aggressive acquisition program while integrating these new businesses into our company," said James C. New, president. "Our ability to maintain margins in the face of pressures on reimbursement is a tribute to all of our employees and their hard work."
 RCI's results continued to improve on a quarter-to-quarter basis. Compared to the first quarter ended March 31, 1993, net revenues, gross profit, operating profit and net income increased 23 percent, 34 percent, 78 percent and 56 percent, respectively. Earnings per share of common stock of $.13 increased 44 percent over the first quarter.
 For the six months ended June 30, 1993, RCI generated net revenues, gross profits and operating profits of $32,563,000, $12,522,000 and $4,224,000. Compared to the same period last year, this represents increases of 75 percent in net revenues, 82 percent in gross profit and 240 percent in operating profit. Net income (loss) available to common stock of $1,738,000 for the first six months of 1993 improved substantially from a net loss of $241,000 for the first six months of 1992. Earnings per share of common stock of $.22 were significantly better than the loss per share of common stock of $.05 for the first six months of 1992.
 RCI's strategy is to develop the most extensive network of outpatient physical therapy clinics in selected markets through acquisitions and internal growth. This strategy is designed to capitalize on the highly fragmented nature of outpatient physical therapy by integrating innovative management and information systems, and marketing and sales programs into strong local clinical practices. RCI has established itself as one of the largest out patient physical therapy companies in the country with 137 clinics in 15 states.
 REHABCLINICS, INC.
 Statement of Operations Data
 (In thousands, except share data)
 Periods ended Three Months Six Months
 June 30 1993 1992 1993 1992
 Net revenues $17,989 $10,942 $32,563 $18,645
 Gross profit 7,175 4,170 12,522 6,891
 Operating profit(A) 2,702 877 4,224 1,244
 Income (loss) before tax 1,958 121 3,038 (164)
 Net income (loss) 1,058 26 1,738 (190)
 Net income (loss)
 available
 to common stock 1,058 3 1,738 (241)
 Earnings (loss)
 per common share $0.13 $0.00 $0.22 $(0.05)
 Shares used in
 earnings (loss)
 per common share
 computation 8,155,694 4,800,970 8,032,636 4,455,365
 REHABCLINICS, INC.
 Balance Sheet Data
 (In thousands)
 6/30/93
 Cash and cash equivalents $ 3,777
 Other current assets 17,440
 Total current assets 21,217
 Fixed assets and other 69,082
 Total assets 90,299
 Current liabilities 12,205
 Long-term liabilities 23,739
 Total liabilities 35,944
 Stockholders' equity 54,355
 Total liabilities & equity 90,299
 (A) Before interest expense, interest income and amortization of goodwill.
 -0- 8/10/93
 /CONTACT: James C. New, president, or Alan N. Vinick, senior vice president of RehabClinics, Inc., 215-992-7600; or Susan Noonan of Noonan/Russo Communications, 212-696-4455/
 (RCH)


CO: RehabClinics, Inc. ST: Pennsylvania IN: HEA SU: ERN

PS-SM -- NY011 -- 1045 08/10/93 08:45 EDT
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Date:Aug 10, 1993
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