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TRANSWORLD HOME HEALTHCARE REPORTS THIRD QUARTER RESULTS; NET REVENUES INCREASE 40.1 PERCENT

 HAWTHORNE, N.Y., Sept. 8 /PRNewswire/ -- Transworld Home HealthCare, Inc. (NASDAQ: TWHH; BSE: TWH), today announced earnings for the third quarter of the fiscal year ending Oct. 31, 1993. For the three months ended July 31, 1993, total net revenues on an unaudited pro forma combined basis increased 40.1 percent to $4,024,840 from $2,873,409 for the comparable 1992 period. For the nine-month period ended July 31, 1993, total net revenues on an unaudited pro forma combined basis grew 38.3 percent to $10,632,025 vs. $7,689,358 for the comparable 1992 period.
 Net income for the three-month period ended July 31, 1993, was $260,862, or 7 cents per share, on 3,899,087 weighted average number of shares vs. $246,824, or 11 cents per share, on 2,165,381 weighted average number of shares for the comparable 1992 period. For the nine- month period ended July 31, 1993, net income was $645,035, or 17 cents per share, on 3,698,758 weighted average number of shares vs. $442,816, or 20 cents 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 continued ability to increase both sales and earnings. Our integration of Complete Health Care Services into the company is coming along smoothly as we continue to focus on providing quality home health care to a growing patient base. We are actively seeking acquisitions in alternate site settings in our continuing program to provide one-stop shopping to the payor community."
 Transworld completed the acquisition of Complete Health Care Services, Inc., an East Brunswick, N.J.-based nursing services company, in June 1993, and is continuing negotiations with 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.
 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- 9/8/93
 /CONTACT: Wayne Palladino, vice president - finance of Transworld Home HealthCare, Inc., 914-345-8880/
 (TWHH)


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

GK-TW -- NY016 -- 9727 09/08/93 10:31 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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