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SAFEGUARD HEALTH ENTERPRISES INC. REPORTS SUBSTANTIAL INCREASE IN SECOND QUARTER NET INCOME AND EARNINGS

 SAFEGUARD HEALTH ENTERPRISES INC. REPORTS SUBSTANTIAL INCREASE
 IN SECOND QUARTER NET INCOME AND EARNINGS
 ANAHEIM, Calif., Aug. 4 /PRNewswire/ -- Safeguard Health Enterprises Inc. (NASDAQ-NMS: SFGD) announced today its financial results of the second quarter and six-month period ended June 30, 1992. Earnings per share for the quarter increased 60 percent to $.21 compared to $.13 a year ago on a fully diluted basis. Net income increased 71 percent to $985,000 compared to $577,000 a year earlier. Revenue increased to $15,208,000 compared to $15,048,000 for the same quarter a year ago.
 For the six-month period ended June 30, 1992, earnings per share increased 77 percent to $.41 compared to a $.23 a year ago. Net income increased 90 percent to $1,944,000 compared to $1,023,000 a year earlier. Revenue increased to $30,599,000 compared to $30,041,000 for the same period a year ago.
 "We are pleased to report a continued increase in net income and earnings per share for the second quarter and the first half of 1992, compared to the same periods a year ago. Revenue increased primarily due to increased sales to new small- and mid-sized clients. Earnings per share and net income were positively effected by significantly improved results in the company's dental office subsidiary, lower overall health care expenses including lower specialty care costs, reduced general and administrative expenses and increased copayment revenue. Safeguard's dental office subsidiary continues to post significant increases in revenue and improved control over operating expenses," said Steven J. Baileys, D.D.S., president and chief operating officer.
 "Despite significant employment layoffs in the aerospace, defense and service industries, Safeguard continues to post a substantial increase in new sales to small- and mid-sized client groups, offsetting membership loss from these layoffs. A significant number of new clients were added to Safeguard during the second quarter of 1992, and this positive trend is continuing," Baileys said.
 Safeguard operates managed care dental programs in 13 states providing managed care dental benefits to more than 655,000 members through more than 2,900 contracting providers.
 SAFEGUARD HEALTH ENTERPRISES INC. AND SUBSIDIARIES
 Earnings Summary
 (Thousands omitted, except per share data)
 Quarter Ended June 30, 1992 Pct. of 1991 Pct. of Pct.
 Revenue Revenue Change
 Health care revenues $15,208 100.0 $15,048 100.0 1.1
 Health care expense 11,164 73.4 11,256 74.8 (0.8)
 SG & A expense 2,631 17.3 2,959 19.7 (11.1)
 Other income 208 1.4 112 0.7 85.7
 Income before income
 taxes 1,621 10.7 945 6.3 71.5
 Net income 985 6.5 577 3.8 70.7
 Net income per share $.21 --- $.13 --- 59.7
 Average shares
 outstanding 4,791 --- 4,466 --- 7.3
 Six Months Ended
 June 30, 1992 Pct. of 1991 Pct. of Pct.
 Revenue Revenue Change
 Health care revenues $30,599 100.0 $30,041 100.0 1.9
 Health care expense 22,344 73.0 22,600 75.2 (1.1)
 SG & A expense 5,390 17.6 5,978 19.9 (9.8)
 Other income 321 1.1 213 0.7 50.7
 Income before income
 taxes 3,186 10.4 1,676 5.6 90.1
 Net income 1,944 6.4 1,023 3.4 90.0
 Net income per share $.41 --- $.23 --- 76.7
 Average shares
 outstanding 4,769 --- 4,435 --- 7.5
 Selected Balance
 Sheet Data:
 Cash and marketable
 securities $14,396 --- $10,672 --- 34.9
 Current assets 16,314 --- 14,177 --- 15.1
 Current liabilities 1,538 --- 3,766 --- (59.2)
 Long-term debt 0 --- 319 --- (100.0)
 Shareholders' equity 20,784 --- 16,436 --- 26.5
 Total assets 23,171 --- 21,336 --- 8.6
 -0- 8/4/92
 /CONTACT: Ronald I. Brendzel, senior VP of Safeguard Health Enterprises Inc., 714-778-1284/
 (SFGD) CO: Safeguard Health Enterprises Inc. ST: California IN: HEA SU: ERN


AL-KJ -- LA005 -- 6527 08/04/92 09:34 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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