Printer Friendly

TRANSWORLD HOME HEALTHCARE REPORTS SECOND QUARTER RESULTS NET REVENUES INCREASE 34.5 PERCENT

 HAWTHORNE, N.Y., June 15 /PRNewswire/ -- Transworld Home HealthCare, Inc. (NASDAQ: TWHH; BSE:TWH) today announced earnings for the second quarter of the fiscal year ending Oct. 31, 1993. For the three months ended April 30, 1993, total net revenues on an unaudited pro forma combined basis increased 34.5 percent to $3,401,304 from $2,528,367 for the comparable 1992 period. For the six month period ended April 30, 1993, total net revenues on an unaudited pro forma combined basis grew 37.2 percent to $6,607,185 versus $4,815,949 for the comparable 1992 period.
 Net income for the three month period ended April 30, 1993, was $202,164 or $.05 per share on 3,864,463 weighted average number of shares versus $95,373 or $.04 per share on 2,165,381 weighted average number shares for the comparable period in 1992. For the six month period ended April 30, 1993, net income was $384,173 or $.11 per share on 3,548,459 weighted average number of shares versus $195,992 or $.09 per share on 2,165,381 weighted average number of shares for the comparable 1992 period.
 Joseph J. Raymond, chairman and chief executive officer of Transworld, said, "We are pleased with our performance and see further positive developments ahead. Our strong operating results stem primarily from our ability to provide high quality health care to a growing patient base while maintaining tight controls on operating expenses. Strategically, our objective is to enhance our position as a regional home health care company by providing both home infusion and home nursing care under one umbrella."
 Transworld recently expanded its operations with the acquisition of Complete Health Care Services, Inc., an East Brunswick, N.J.-based home nursing services company. The company also announced the signing of a letter of intent for HomeCare of Palm Beach County, an Atlantis, Fla.-based, Medicare certified home nursing agency with two Lakeworth, Fla.-based divisions: HomeCare North, Inc., a private pay nursing agency, and North Palm Beach HealthCare, a certified center for sports medicine and rehabilitation. The company noted that because the transactions use funds generated from its January 1993 initial public offering, no dilution to earnings per share is anticipated.
 Transworld Home HealthCare provides home infusion therapy, nursing and para-professional services to patients in the New York metropolitan area, New Jersey, and in Orlando and Melbourne, Fla.
 -0- 6/15/93
 /CONTACT: Mitch Stoller or Joele Frank of Ogilvy Adams & Rinehart, 212-880-5285, for Transworld Home Healthcare/
 (TWHH)


CO: Transworld Home HealthCare, Inc. ST: New York IN: HEA SU: ERN

PS -- NY019 -- 1991 06/15/93 09:41 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 15, 1993
Words:443
Previous Article:UNITED ASSET MANAGEMENT CORPORATION DECLARES QUARTERLY DIVIDEND
Next Article:TIME WARNER ANNOUNCES OFFERING
Topics:


Related Articles
HORIZON HEALTHCARE ANNOUNCES RECORD SECOND QUARTER RESULTS
HORIZON HEALTHCARE ANNOUNCES RECORD THIRD QUARTER RESULTS
HORIZON HEALTHCARE ANNOUNCES RECORD THIRD QUARTER RESULTS
TRANSWORLD HOME HEALTHCARE REPORTS THIRD QUARTER RESULTS; NET REVENUES INCREASE 40.1 PERCENT
FUTURE HEALTHCARE, INC. FIRST QUARTER RESULTS AND NEW SITE UPDATE
UNITED HEALTHCARE REPORTS SECOND QUARTER NET EARNINGS GROWTH OF 20 PERCENT
SUN ANNOUNCES SECOND QUARTER EARNINGS OF $.34 PER SHARE
Sun Healthcare Group Announces Third-Quarter Earnings of $0.39 Per Share
Sun Healthcare Group Reports Second-Quarter Earnings
Everest Healthcare Reports 30.2% Increase in Second-Quarter Revenues.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters