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REHABCLINICS REPORTS RECORD QUARTERLY RESULTS

 KING OF PRUSSIA, Pa., May 10 /PRNewswire/ -- RehabClinics, Inc. (NASDAQ: RCII), announced record revenues and earnings for the first quarter ended March 31, 1993. Revenues for the quarter were $14,574,000 compared with $7,703,000 the prior year. Gross profits of $5,346,000 increased 96 percent over gross profits of $2,722,000 in the first quarter 1992. RCI's operating profit and net income available to common stock was $1,522,000 and $680,000, respectively, in the most recent quarter compared to $367,000 and $(244,000) a year ago. Earnings per share of common stock was $.09 for the period ended March 31, 1993 compared to $(.06) loss in the quarter ended March 31, 1992.
 RCI's results continued to improve on a quarter-to-quarter basis. Compared to the fourth quarter ended Dec. 31, 1992, net revenues, gross profits, operating profit and net income increased 9.4 percent, 10.7 percent, 22.0 percent and 11.5 percent, respectively. Earnings per share of common stock increased to $.09 in the most recent period from $.08 in the fourth quarter of 1992.
 During the first quarter 1993, RCI acquired two related businesses located in the Chicago metropolitan area. Mr. New stated, "These businesses together are the largest outpatient practice in the Chicago area and represent an excellent entry vehicle into this market."
 Mr. New also stated, "During the quarter RCI obtained a new $20 million credit facility, which will allow the company to execute its growth plans."
 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 outpatient physical therapy companies in the country with 121 in 15 states.
 REHABCLINICS, INC.
 Summary Financial Information
 (in thousands, except share data)
 Statement of Operations Data:
 Three Months Ended March 31, 1993 1992
 Net revenues $ 14,574 $ 7,703
 Gross profit 5,346 2,722
 Operating profit (A) 1,522 367
 Income (loss) before tax 1,080 (285)
 Net income (loss) 680 (216)
 Net income (loss) available to common stock 680 (244)
 Earnings (loss) per common share $ .09 $ (0.06)
 Shares used in earnings (loss)
 per common share computation 7,903 4,110
 Balance Sheet Data: March 31, 1993
 Cash and cash equivalents $ 4,263
 Other current assets 12,686
 Total current assets 16,949
 Fixed assets and other 61,589
 Total assets 78,538
 Current liabilities $ 12,567
 Long-term liabilities 16,414
 Total liabilities 28,981
 Preferred stock --
 Stockholders' equity (deficit) 49,557
 Total liabilities & equity 78,538
 (A) Before interest expense, interest income and amortization of goodwill.
 -0- 5/10/93
 /CONTACT: James C. New, president of Alan N. Vinick, senior vice president of RehabClinics, Inc., 215-992-7600, or Susan Noonan of Noonan/Russo Communications, 212-979-9180, for RehabClinics/
 (RCII)


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

KD-LD -- NY100 -- 6705 05/10/93 17:29 EDT
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Date:May 10, 1993
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