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U.S. HOMECARE CORP. ANNOUNCES RECORD 1992 FOURTH QUARTER/YEAR-END REVENUES

 HARTSDALE, N.Y., Feb. 8 /PRNewswire/ -- W. Edward Massey, president and chief executive officer of U.S. HomeCare Corporation (NASDAQ: USHO), announced today that the company has achieved record revenues, earnings and earnings per share for the fourth quarter and year ended Dec. 31, 1992.
 Net revenues for the three months ended Dec. 31, 1992, increased 64.2 percent over the comparable period last year to $22,510,305. Net earnings were $1,200,479, up from $855,000, and earnings per share increased 25.0 percent to $0.15 vs. $0.12.
 Twelve-month revenues were $71,238,569, an increase of 42.0 percent over the prior year. Net income increased 50.7 percent to $4,100,476 from $2,720,211. Earnings per share increased 15.9 percent to $0.51 from $0.44.
 "What a wonderful year," commented Massey. "Our revenues increased 42 percent and our operating income increased 46 percent. This is the second straight year as a public company of over 40 percent growth in both revenues and profitability. Of perhaps more importance is our development of new markets and our acquisition in the fourth quarter of a major New York I.V. competitor which positions us with about 45 percent IV therapy revenues in those markets. We look forward to continue building this track record through 1993."
 U.S. HomeCare is a leading provider of integrated home health care services, including nursing and infusion therapy. Services are provided by approximately 3,600 caregivers in 10 major markets through 28 locations, including six infusion therapy facilities and pharmacies.
 U.S. HOMECARE CORPORATION
 Consolidated Balance Sheets
 (Unaudited; in thousands)
 Year ending Dec. 31 1992 1991
 Current assets:
 Cash $1,201 $925
 Accounts receivable, net 32,148 16,209
 Other current assets 6,855 1,159
 Total current assets 40,204 18,293
 Property and equipment, net 7,473 2,247
 Intangible and other assets, net 22,172 3,244
 Total assets 69,849 23,784
 Liabilities $23,894 $5,935
 Long-term debt 5,411 1,031
 Total liabilities 29,305 6,966
 Stockholders' equity 40,544 16,818
 Total liabilities and
 stockholders' equity 69,849 23,784
 U.S. HOMECARE CORPORATION
 Consolidated Statements of Earnings
 (Unaudited; in thousands, except per-share data)
 Three months ended Increase Pct. Increase
 Dec. 31 1992 1991 (Decrease) (Decrease)
 Net revenues $22,510 $13,712 $8,798 64.2
 Cost of revenues 12,948 7,662 5,286 69.0
 Total 9,562 6,050 3,512 58.0
 Selling, general and
 administrative
 expenses 6,855 4,408 2,447 55.5
 Earnings from operations 2,707 1,642 1,065 64.9
 Other expenses:
 Interest (income)
 expense 130 11 119 1081.8
 Amortization 367 100 267 267.0
 Total 497 111 386 347.7
 Earnings before provision
 for income taxes 2,210 1,531 679 44.4
 Provision for
 income taxes 1,010 676 334 49.4
 Net earnings 1,200 855 345 40.4
 Earnings per share $0.15 $0.12 $0.03 25.0
 Weighted average common
 shares outstanding 8,247 7,154 1,093 15.3
 12 months ended Increase Pct. Increase
 Dec. 31 1992 1991 (Decrease) (Decrease)
 Net revenues $71,239 $50,183 $21,056 42.0
 Cost of revenues 40,534 29,136 11,398 39.1
 Total 30,705 21,047 9,658 45.9
 Selling, general and
 administrative
 expenses 22,701 15,552 7,149 46.0
 Earnings from operations 8,004 5,495 2,509 45.7
 Other expenses:
 Interest (income)
 expense (40) 259 (299) (115.4)
 Amortization 774 390 384 98.5
 Total 734 649 85 13.1
 Earnings before provision
 for income taxes 7,270 4,846 2,424 50.0
 Provision for
 income taxes 3,170 2,126 1,044 49.1
 Net earnings 4,100 2,720 1,380 50.7
 Earnings per share $.51 $.44 $.07 15.9
 Weighted average common
 shares outstanding 8,020 6,219 1,801 29.0
 -0- 2/8/93
 /CONTACT: W. Jonathan T. Hirst, senior vp-Finance and Administration, 914-287-4436, or Anna M. Bertacchi, manager of Investor Relations, 914-287-4490, both of U.S. HomeCare/
 (USHO)


CO: U.S. HomeCare Corporation ST: New York IN: HEA SU: ERN

MK-MP -- NY023 -- 3959 02/08/93 09:40 EST
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