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UNIVERSAL HOSPITAL SERVICES, INC. ANNOUNCES FOURTH QUARTER EARNINGS

 BLOOMINGTON, Minn., February 24 /PRNewswire/ -- Universal Hospital Services, Inc. (NASDAQ-NMS: UHOS) today reported income before extraordinary loss for the fourth quarter of $1,059,492, a 30.8 percent increase over net income of $810,016 for the same period a year ago. Earnings available for common shareholders for the quarter increased from $0.03 per share last year to $ 0.20 per share this year. For the year ended Dec. 31, 1992, income before extraordinary loss increased 68.0 percent to $3,331,583 ($0.70 per share) from $1,983,149 ($0.27 per share) last year.
 The company had an extraordinary loss in 1992 of $125,140 ($0.02 per share) and $153,760 ($0.03 per share) for the fourth quarter and year, respectively, reflecting retirement of the company's senior subordinated note in mid-June using a portion of the proceeds from the company's initial public offering, and the refinancing of the Company's senior notes and revolving credit facility in November and December of 1992, respectively.
 Total revenue for the fourth quarter was $12,039,780, with rental revenues showing a 1.1 percent growth over the same period in 1991. For the year, total revenues increased to $48,514,177 in 1992, with rental revenues showing a 9.2 percent increase over the comparable period in 1991.
 Slower than anticipated revenue growth in the second half of the year reflects what management and other health care industry sources believe is a deferral of hospital equipment acquisition decisions due to uncertainty surrounding governmental health care policy. This uncertainty resulted from new regulations on equipment reimbursement and the election of a new administration. Another significant factor was the declining trend of new technology approvals by the FDA.
 Thomas A. Minner, president and chief executive officer, said, "UHS continues to work with hospitals to help them lower their patient equipment costs of ownership by providing Pay-Per-Use(TM) programs which results in greater utilization through equipment pooling. In this way, we can be a part of the solution for hospitals as they face increasing cost containment pressures."
 Universal Hospital Services, Inc. provides movable medical equipment to hospitals and other health care providers through equipment management programs utilizing Pay-Per-Use as the system for charging customers only for actual equipment usage.
 UNIVERSAL HOSPITAL SERVICES, INC.
 STATEMENTS OF INCOME
 (UNAUDITED)
 Three Months Ended 12 Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenues:
 Equipment rentals $9,179,312 $9,077,256 $36,813,274 $33,705,632
 Sales of supplies
 and equipment 2,731,546 2,937,475 11,291,173 12,205,338
 Other 128,922 181,932 409,730 383,081
 Total revenues 12,039,780 12,196,663 48,514,177 46,294,051
 Income before income
 taxes and
 extraordinary loss 1,770,492 1,401,450 5,683,583 3,431,149
 Provision for income
 taxes: 711,000 591,434 2,352,000 1,448,000
 Income before
 extraordinary loss 1,059,492 810,016 3,331,583 1,983,149
 Extraordinary loss,
 net of income tax
 benefit of $88,000
 and $108,000 for
 the three and
 12 months,
 respectively 125,140 -- 153,760 --
 Net income $934,352 $810,016 $3,177,823 $1,983,149
 Preferred stock
 dividends -- 55,000 101,500 220,000
 Accretion of redemption
 premium on preferred
 stock -- 642,361 91,594 843,270
 Net income available
 to common
 shareholders $934,352 $112,655 $2,984,729 $919,879
 Earnings per
 share of common
 stock, before
 extraordinary loss 0.20 0.03 0.70 0.27
 Extraordinary loss,
 net of tax (0.02) -- (0.03) --
 Net income per
 common share $0.18 $0.03 $0.67 $0.27
 Weighted average common
 shares outstanding 5,368,329 3,405,105 4,481,076 3,405,105
 -0- 2/24/93
 /CONTACT: David E. Dovenberg, vice president of finance & CFO, Universal Hospital Services, 612-893-3252/
 (UHOS)


CO: Universal Hospital Services, Inc. ST: Minnesota IN: SU: ERN

AL -- MN010 -- 0051 02/24/93 16:02 EST
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Date:Feb 24, 1993
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