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UNITED MEDICAL REPORTS FIRST QUARTER RESULTS

 UNITED MEDICAL REPORTS FIRST QUARTER RESULTS
 HADDONFIELD, N.J., April 22 /PRNewswire/ -- United Medical


Corporation's (AMEX: UM) (UM) revenue for the quarter was $12,429,000 in 1992 compared to $11,262,000 in 1991.
 Operating income increased 64 percent to $488,000 in 1992 from $297,000 in 1991. Pre-tax income, before a cumulative effect adjustment in 1992, increased to $563,000 in 1992 from $539,000 in 1991.
 Income for the quarter ended March 31, 1992, was $325,000 or $.12 per share vs. $485,000 or $.18 per share a year ago, before the cumulative effect of adopting Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes." The effective tax rate increased to 42 percent in 1992 from 10 percent in 1991, as the 1991 rate reflected the benefit of a net operating loss carryforward.
 Net income for the first quarter of 1992 was $1,150,000 or $.43 per share vs. $485,000 or $.18 per share in 1991 on 2,671,000 shares and 2,741,000 shares, respectively. The 1992 results include a benefit of $825,000 or $.31 per share, for the cumulative effect of adopting SFAS No. 109.
 UNITED MEDICAL CORPORATION
 Consolidated Statements of Income (Unaudited)
 Quarter ended March 31 1992 1991
 Total revenue $12,429,000 $11,262,000
 Operating income (pre-tax) 488,000 297,000
 Pre-tax income before cumulative
 effect of change in accounting 563,000 539,000
 Income taxes 238,000 54,000
 Income before cumulative effect 325,000 485,000
 Cumulative effect of change in
 accounting 825,000 ---
 Net income 1,150,000 485,000
 Earnings per share:
 Income before cumulative effect $.12 $.18
 Cumulative effect of change in
 accounting .31 ---
 Net income .43 .18
 Weighted average shares
 outstanding 2,671,000 2,741,000
 Consolidated Balance Sheet Information (Unaudited)
 March 31, 1992 Dec. 31, 1991
 Current assets $25,833,000 $25,731,000
 Total assets 42,938,000 41,568,000
 Current liabilities 7,942,000 7,076,000
 Long-term debt 6,062,000 6,245,000
 Shareholders' equity 27,546,000 26,816,000
 Shareholders' equity
 per share (A) $10.36 $9.94
 (A) Based upon 2,659,000 and 2,697,000 common shares for 1992 and 1991, respectively.
 /delval/
 -0- 4/22/92
 /CONTACT: Deborah McKeever of United Medical, 609-354-2200/
 (UM) CO: United Medical Corporation ST: New Jersey IN: HEA SU: ERN


MK-CC -- PH031 -- 1285 04/22/92 12:36 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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