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SIERRA TUCSON COMPANIES INC. REPORTS 1992 FINANCIAL RESULTS

 TUCSON, Ariz., Jan. 21 /PRNewswire/ -- Sierra Tucson Companies Inc. (NASDAQ: STSN) today announced its results of operations for the year ended Dec. 31, 1992.
 Net revenues for the year ended Dec. 31, 1992, were $35,952,683, a 20 percent decrease over the previous year. Net revenues for the quarter ended Dec. 31, 1992, were $6,481,112, a 46 percent decrease from the corresponding quarter of 1991. Net income for the year ended Dec. 31, 1992, was $365,506, or $.04 per share, a 96 percent decrease over the previous year.
 The earnings decline is the result of declining revenues because of the decreased utilization of services at the main and eating disorder facilities, increased revenue deductions, losses incurred in the operation of the adolescent center and charges related to the company's reorganization.
 William T. O'Donnell Jr., president and chairman of the board, said, "We have put a very difficult year behind us. Our segment of the health care industry has undergone sweeping change, resulting in an unprecedented number of treatment center and hospital closings. The company is establishing a new strategic direction to help us compete more successfully in a restrictive environment.
 "We believe the strong actions taken by management -- restructuring, realignment, cost-containment, and other changes made to better address patient needs -- will improve financial performance. These changes include repositioning existing programs and accessing new niches. More market-responsive delivery of mental health and addictive care, coupled with the implementation of aggressive marketing initiatives, should facilitate financial growth. Our balance sheet provides us with a strong foundation from which to grow in a country where demand for mental health services continues to rise. Our goal is to continue to provide the highest quality care available, achieve positive economic results and increase our shareholders' investment in the company."
 SIERRA TUCSON COMPANIES INC.
 Unaudited Statement of Results
 Consolidated
 Dec. 31, 1992
 Fourth Quarter Ended 12 Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 (Unaudited) (Unaudited) (Unaudited) (Unaudited)
 Gross revenues $7,765,821 $12,517,362 $41,858,951 $46,752,964
 Net revenue 6,481,112 11,989,791 35,952,683 44,878,696
 Income (loss)
 before taxes &
 extraordinary
 item (412,167) 2,767,392 15,724 14,668,307
 Income before
 extraordinary
 item (91,101) 1,660,616 365,506 9,109,707
 Earnings per
 share before
 extraordinary
 item (0.01) 0.20 0.04 1.18
 Extraordinary item,
 net (loss on early
 retirement of debt) --- --- --- 345,457
 Net income (loss) (91,101) 1,660,616 365,506 8,764,250
 Earnings per share (0.01) 0.20 0.04 1.13
 W.A. common
 equivalents 8,496,887 8,484,803 8,495,660 7,748,228
 -0- 1/21/93
 /CONTACT: John H. Schmitz, CFO, or James Rianoshek, investor relations, 602-792-5800, of Sierra Tucson Companies/
 (STSN)


CO: Sierra Tucson Companies Inc. ST: Arizona IN: HEA SU: ERN

KJ-LS -- LA031 -- 7580 01/21/93 15:56 EST
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Date:Jan 21, 1993
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