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U.S. HOMECARE CORP. ANNOUNCES RECORD THIRD QUARTER REVENUES, EARNINGS AND EPS

 U.S. HOMECARE CORP. ANNOUNCES RECORD THIRD QUARTER REVENUES,
 EARNINGS AND EPS
 HARTSDALE, N.Y., Oct. 26 /PRNewswire/ -- W. Edward Massey, president and chief executive officer of U.S. HomeCare Corporation (NASDAQ: USHO), today announced the company's record revenues, earnings and earnings per share for the third quarter. Net revenues for the three months ended Sept. 30, 1992, increased 37.9 percent over the previous year to $18,301,571. Net earnings were $1,091,698, up from $784,536, and earnings per share increased 18.2 percent to $0.13 versus $0.11 in the prior year.
 For the nine months ended Sept. 30, 1992, revenues were $48,728,264, up 33.6 percent from the $36,471,390 posted in the same period last year. Earnings were up 55.5 percent to $2,899,997 from last year's $1,865,212. Earnings per share for the nine months were $0.36 compared to $0.32 last year based upon 8,191,279 and 5,913,387 weighted average common shares outstanding, respectively.
 In commenting on the company's third quarter results, Mr. Massey said, "We completed our effort to organize the delivery of home care around an integrated capability in nursing services and infusion therapy without losing stride. As the market continues to reflect more influences of managed care, we are very well positioned to provide managed care payors an efficient and unique home health care service."
 Mr. Massey also said, "We have been frequently asked to comment on the presidential election as it has highlighted the problems of inadequate coverage and high cost of health care in the United States. We believe efforts to solve these problems will continue to expand the market for home health care."
 During the quarter, U.S. HomeCare opened integrated facilities in Fort Lauderdale, Fla., and Pittsburgh, Pa., both of which are major markets. The company also expanded its presence in the Connecticut market with a nursing services facility in New Haven, Conn. In the third quarter, U.S. HomeCare appointed two new members to its board: W. Wallace McDowell Jr., principal of Morgan Lewis Githens & Ahn (MLG&A), and G. Robert O'Brien, executive vice president of CIGNA.
 U.S. HomeCare is a leading provider of integrated home health care services, including nursing care and infusion therapy. Services are provided by approximately 3,200 caregivers in six major markets through 24 locations, including four infusion therapy facilities and pharmacies.
 U.S. HOMECARE CORPORATION
 Consolidated Statements of Earnings
 Three months ended Sept. 30, Inc. Pct. Inc.
 1992 1991 (Dec.) (Dec.)
 Net revenues $18,301,571 $13,271,840 $5,029,731 37.9
 Cost of revenues 10,200,135 7,749,522 2,450,613 31.6
 Total 8,101,436 5,522,318 2,579,118 46.7
 S,G&A expenses 6,075,029 4,097,189 1,977,840 48.3
 Earnings from
 operations 2,026,407 1,425,129 601,278 42.2
 Other (income)/exps.:
 Interest (45,278) (28,649) (16,629) (58.0)
 Amortization 155,987 90,242 65,745 72.9
 Total 110,709 61,593 49,116 79.7
 Earnings before
 provision for
 income taxes 1,915,698 1,363,536 552,162 40.5
 Provision for
 income taxes 824,000 579,000 245,000 42.3
 Net earnings $ 1,091,698 $ 784,536 $ 307,162 39.2
 Earnings per share $0.13 $0.11 $0.02 18.2
 Weighted aver. com.
 shares outstanding 8,477,284 6,990,041 1,487,243 21.3
 Nine months ended Sept. 30, Inc. Pct. Inc.
 1992 1991 (Dec.) (Dec.)
 Net revenues $48,728,264 $36,471,390 $12,256,874 33.6
 Cost of revenues 27,585,772 21,474,192 6,111,580 28.5
 Total 21,142,492 14,997,198 6,145,294 41.0
 S,G&A expenses 15,845,746 11,143,812 4,701,934 42.2
 Earnings from
 operations 5,296,746 3,853,386 1,443,360 37.5
 Other (income)/exps.:
 Interest (170,085) 247,711 (417,796) (168.7)
 Amortization 406,834 290,463 116,371 40.1
 Total 236,749 538,174 (301,425) (56.0)
 Earnings before
 provision for
 income taxes 5,059,997 3,315,212 1,744,785 52.6
 Provision for
 income taxes 2,160,000 1,450,000 710,000 49.0
 Net earnings $ 2,899,997 $ 1,865,212 $ 1,034,785 55.5
 Earnings per share $0.36 $0.32 $0.04 12.5
 Weighted aver. com.
 shares outstanding 8,191,279 5,913,387 2,277,892 38.5
 -0- 10/26/92
 /CONTACT: Anna M. Bertacchi, manager of investor relations of U.S. HomeCare, 914-287-4484/
 (USHO) CO: U.S. HomeCare Corporation ST: New York IN: HEA SU: ERN


GK-OS -- NY015 -- 4604 10/26/92 09:34 EST
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