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STAR MULTI CARE SERVICES REPORTS THIRD QUARTER, NINE MONTH RESULTS

 BROOKLYN, N.Y., April 13 /PRNewswire/ -- Star Multi Care Services, Inc. (NASDAQ: SMCS), today reported significant revenue gains for both the third quarter and nine months ended Feb. 28, 1993. Net revenues for the three months ended Feb. 28, 1993, increased substantially to $4,275,729 compared with $2,064,523 for the third quarter last year, an increase of 107 percent. Net income for the third quarter increased 19 percent to $57,754 or $.04 per share compared with year-ago third- quarter net income of $48,586 or $.03 per share.
 For the nine-month period ended Feb. 28, 1993, net revenues increased 108 percent to $12,777,180 compared to $6,121,985 for the year-earlier nine-month period.
 Stephen Sternbach, chief executive officer of Star Multi Care, said that the revenue gains in the periods under review were primarily attributable to rapid growth in the company's Florida and Long Island operations.
 "We continue to devote our resources and management attention to the higher margin home care business, which has produced a 233 percent revenue increase in the third quarter and a 244 percent gain for the first nine months," Sternbach said. "Home care revenues represented approximately 80 percent of total revenue with hospital staffing accounting for the balance in the 1993 periods, compared to approximately 52 percent and 48 percent, respectively, last year. The company's strategies to grow our home care business have proven extremely successful and we believe the upward trend in home care will continue in the future, resulting in continued revenue growth and improved profit performance for the company," he concluded.
 Star Multi Care provides temporary health care personnel to hospitals and nursing homes and to patients in their homes throughout the New York and New Jersey metropolitan area and south Florida.
 -0- 4/13/93
 /CONTACT: Stephen Sternbach, president and CEO of Star Multi Care, 718-488-7300/
 (SMCS)


CO: Star Multi Care Services, Inc. ST: New York IN: HEA SU: ERN

GK-SM -- NY021 -- 5120 04/13/93 10:06 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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