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UNILAB ANNOUNCES IMPROVEMENT IN OPERATING MARGINS AND YEAR-END REVENUES

UNILAB ANNOUNCES IMPROVEMENT IN OPERATING MARGINS AND YEAR-END REVENUES
 NEW YORK, Feb. 20 /PRNewswire/ -- Reflecting continued growth through internally generated sales, as well as revenues from acquisitions, Unilab Corporation's (NASDAQ: ULAB) revenues for the 12 months ended Dec. 31, 1991, increased 50 percent to $204.2 million, compared to revenues of $135.6 million for the 12 months ended Dec. 31, 1990. Operating profits for 1991 increased 400 percent over the prior year, reaching 12.4 percent of sales, an increase over 1990's 3.7 percent.
 Year-end results in 1991 showed significant improvement, compared to 1990. Net loss was $1.6 million or 5 cents per share for the 12 months ended Dec. 31, 1991, compared to a net loss of $16.8 million or 63 cents per share for the 12 months ended Dec. 31, 1990.
 Fourth quarter revenues ended Dec. 31, 1991, were $53.1 million, up from revenues of $34.5 million for the fourth quarter ended Dec. 31, 1990. Unilab's net loss for the fourth quarter ended Dec. 31, 1991, decreased to $1.76 million or 5 cents per share, compared to a net loss of $4.59 million or 17 cents per share for the fourth quarter ended Dec. 31, 1990. Fourth quarter results were impacted by the final stages of consolidation of RBL into Unilab's northwest operations, and short- term expanses associated with the consolidation of AMLaboratories.
 In another noteworthy event, Unilab has been advised that Corning Incorporated has completed the purchase of 2.73 million common shares of Unilab Corporation at $11 per share by MetPath, a wholly owned subsidiary of Corning, from non-U.S. institutional investors. This purchase increased Corning's ownership of Unilab to just over 50 percent.
 Andrew Baker, chairman of Unilab, stated that he was "particularly pleased with Corning's continued commitment towards Unilab, and with Unilab's progress in 1991 towards achieving profitable growth through cost reductions, technological innovations, consolidation, and internally generated sales growth in its clinical laboratories in the western United States."
 Baker added that "this past year was an important one for Unilab, as it significantly improved operations and the operating results of its businesses, and completed two key strategic acquisitions of Roche Biomedical Laboratories' western division and AMLaboratories, which were acquired in January 1991 and September 1991, respectively. Unilab also completed the sale of DLMC in October 1991. DLMC, an operator of European laboratories, was a minor contributor to Unilab's net sales, and did not fit within Unilab's strategic focus."
 Unilab Corporation is a clinical laboratory testing company that supplies clinical testing services in the western United States through its wholly owned subsidiary MetWest Inc.
 UNILAB CORPORATION
 Financial Highlights
 (Amounts in thousands, except per-share data)
 Periods ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 (Unaudited)
 Net revenues $53,130 $34,469 $204,222 $135,619
 Net income (loss) $(1,759) $(4,597) $ (1,559) $(16,817)
 Net income (loss) per
 common share $(0.05) $(0.17) $(0.05) $(0.63)
 -0- 12/20/92
 /CONTACT: Richard A. Michaelson of Unilab, 201-393-5254/
 (ULAB) CO: Unilab Corporation ST: New York IN: HEA SU: ERN


GK-CK -- NY020 -- 0848 02/20/92 10:32 EST
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Date:Feb 20, 1992
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