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

 SAFEGUARD HEALTH ENTERPRISES INC. REPORTS SUBSTANTIAL
 INCREASE IN THIRD QUARTER NET INCOME AND EARNINGS
 ANAHEIM, Calif., Nov. 3 /PRNewswire/ -- Safeguard Health Enterprises Inc. (NASDAQ-NMS: SFGD) announced today its financial results for the third quarter and nine-month period ended Sept. 30, 1992. Earnings per share for the quarter increased 29 percent to $.22, compared to $.17 a year ago on a fully diluted basis. Net income increased 38 percent to $1,048,000, compared to $758,000 a year earlier. Revenue was $15,148,000, compared to $15,254,000 for the same quarter a year ago.
 For the nine-month period ended Sept. 30, 1992, earnings per share increased 58 percent to $.63, compared to $.40 a year ago. Net income increased 68 percent to $2,993,000, compared to $1,780,000 a year earlier. Revenue increased to $45,747,000, compared to $45,295,000 for the same period a year ago.
 "For the seventh straight quarter, Safeguard has reported a substantial increase in net income and earnings per share compared to the same period a year prior. For the nine-month period, revenue increased primarily due to increased sales to new small and mid-sized clients and improved sales in the company's dental office subsidiary. Earnings per share and net income were positively effected by continued improvement in the operating results of the company's dental office subsidiary, increased copayment revenue and lower overall general and administrative expense. Health care expense was slightly higher for the third quarter due to non-recurring specialists accrual expenses and non-recurring start-up expenses associated with the expansion of the specialty dental care program at the company's dental office subsidiary. Health care expense for the fourth quarter is anticipated to return to levels consistent with the first half of this year. Other income was positively effected by a non-recurring gain for settlement of litigation," said Steven J. Baileys, D.D.S., president and chief operating officer.
 "Although the aerospace, defense and service industries continue to suffer from significant employment layoffs which negatively effect the company's enrollment, Safeguard continues to maintain revenue at and above last year's level through substantial increases in the number of sales to small and mid-sized client groups, offsetting almost entirely membership losses from these layoffs. The company is also introducing several new products to be offered by our newly acquired indemnity insurance subsidiary, known as SafeHealth Life Insurance Co., which will complement and be sold along with the managed care plans offered by Safeguard," Baileys said.
 Safeguard is a multifaceted managed care company offering prepaid dental and vision care programs and indemnity insurance plans. The company provides managed care benefits to more than 645,000 members through more than 2,900 contracting providers.
 SAFEGUARD HEALTH ENTERPRISES INC.
 Earnings Summary
 (000s omitted, except per share data)
 Quarter Ended Sept. 30, 1992 1991 Pct. Change
 Health care revenue $15,148 $15,254 ---
 Income before taxes 1,718 1,242 38
 Net income 1,048 758 38
 Net income per share $.22 .17 29
 Average shares outstanding 4,694 4,482 5
 Nine Months Ended Sept. 30, 1992 1991 Pct. Change
 Health care revenue $45,747 $45,295 1
 Income before taxes 4,906 2,919 68
 Net income 2,993 1,780 68
 Net income per share $.63 .40 58
 Average shares outstanding 4,753 4,457 7
 -0- 11/3/92
 /CONTACT: Ronald I. Brendzel, senior VP of Safeguard Health Enterprises, 714-778-1284/
 (SFGD) CO: Safeguard Health Enterprises Inc. ST: California IN: HEA SU: ERN


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Date:Nov 3, 1992
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