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ROCKING HORSE CHILD CARE CENTERS OF AMERICA ANNOUNCES RESULTS

 ROCKING HORSE CHILD CARE CENTERS OF AMERICA ANNOUNCES RESULTS
 CHERRY HILL, N.J., July 22 /PRNewswire/ -- The Rocking Horse Child Care Centers of America, Inc. (NASDAQ: RHCC) today announced record net income for the second quarter and six months ended June 30, 1992.
 Net income for the first two quarters of 1992 rose $549,923 to $1,369,671 or $.10 per share compared to $819,748 or $.07 per share for 1991. This change is attributable primarily to decreased corporate overhead, lower interest expense due to reduction of debt via divestitures and an equity infusion, and strong operating performance of the company's remaining 82 schools. For the six months ended June 30, 1992, the company had revenues of $17,918,182 compared to $18,470,651 in 1991. The slight decline was caused by operating fewer centers in 1992. Corporate operating profit increased 7.8 percent to $2,564,362 largely as a result of tight control of operating expenses, revenue gains at the remaining centers and reduced corporate overhead expenses.
 The company's net income for the second quarter of 1992 rose to $857,910 or $.06 per share up from $482,357 or $.04 in the second quarter of 1991. For the three months ended June 30, 1992, Rocking Horse had revenues of $9,033,003, a decline of 1.6 percent from the second quarter of 1991 caused primarily by the successful sale of schools in the southeast. THE ROCKING HORSE CHILD CARE CENTERS OF AMERICA, INC. AND SUBSIDIARIES
 Periods ended Quarter Six months
 June 30 1992 1991 1992 1991
 Revenues $9,033,003 $9,183,912 $17,918,182 $18,470,651
 Net income 857,910 482,357 1,369,671 819,748
 Earnings per share $.06 $.04 $.10 $.07
 /delval/
 -0- 7/22/92
 /CONTACT: A.J. Clegg, chairman, 215-644-5900, or Douglas E. Carneal, president, 609-482-9100, both of The Rocking Horse Child Care Centers of America/
 (RHCC) CO: The Rocking Horse Child Care Centers of America, Inc. ST: New Jersey IN: SU: ERN


MJ-CC -- PH024 -- 1869 07/22/92 11:40 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
Words:347
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