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UNIVERSAL HOSPITAL SERVICES, INC. ANNOUNCES SECOND QUARTER EARNINGS

 BLOOMINGTON, Minn., Aug. 3 /PRNewswire/ -- Universal Hospital Services, Inc. (NASDAQ: UHOS) today reported earnings for the second quarter of $445,722, a 31.4 percent decrease from net income of $649,749 for the same period a year ago. Earnings available for common shareholders for the quarter decreased from $0.16 per share to $0.08 per share. Earnings for the six months ended June 30, 1993 were relatively flat at $1,642,131 compared to $1,614,528 for the same period in 1992. Earnings per share for the period decreased from $0.40 per share to $0.30 per share, due to the larger weighted average number of common shares outstanding.
 Rental revenue for the second quarter was $8,810,317 showing a 3.9 percent decline from $9,167,410 for the same period in 1992. Total revenues decreased 6.4 percent to $11,401,545 from $12,178,420 for the second quarter of 1992, reflecting a continuing reduction in lower margin disposable product sales. Rental revenues and total revenues declined by 1.5 percent and 4.7 percent, respectively, for the six months ended June 30, 1993 compared to the same period in 1992.
 The company attributes the weakness in rental revenues to a continuation of generally lower hospital census rates and the propensity by its hospital customers to extend useful lives of owned equipment as a result of continuing uncertainty on the direction of national healthcare reform.
 As previously stated by Thomas A. Minner, president and chief executive officer, "We remain convinced that UHS's Pay-Per-Use(TM) Equipment Management Programs are a part of the solution to cost containment in healthcare, and that UHS is well positioned for growth as the uncertainty surrounding Federal healthcare policy begins to clear. As a result, we will continue to invest in the future through controlled development of both human and capital resources."
 Universal Hospital Services, Inc. provides movable medical equipment to hospitals and other healthcare 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 Six Months ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Revenues:
 Equipment rentals $8,810,317 $9,167,410 $18,475,375 $18,759,511
 Sales of supplies
 and equipment 2,486,875 2,920,809 5,041,150 5,933,055
 Other 104,353 90,201 197,489 187,595
 Total revenues 11,401,545 12,178,420 23,714,014 24,880,161
 Costs and expenses:
 Cost of equipment
 rentals 2,146,873 1,929,335 4,256,234 3,876,732
 Rental equipment
 depreciation 2,110,000 2,089,061 4,108,000 4,083,122
 Cost of supplies and
 equipment sales 2,002,379 2,456,863 4,108,107 4,978,222
 Selling, general and
 administrative 4,048,748 3,842,608 7,937,832 7,678,169
 Interest 273,823 695,184 547,710 1,434,768
 Total costs and
 expenses 10,581,823 11,013,051 20,957,883 22,051,013
 Income before income
 taxes and extraordinary
 loss 819,722 1,165,369 2,756,131 2,829,148
 Provision for income taxes:
 Current 431,000 452,000 1,219,000 1,131,000
 Deferred (57,000) 35,000 (105,000) 55,000
 -- 374,000 487,000 1,114,000 1,186,000
 Net income before
 extraordinary loss 445,722 678,369 1,642,131 1,643,148
 Extraordinary loss,
 net of income tax
 benefit of $20,000 -- 28,620 -- 28,620
 Net income $445,722 $649,749 $1,642,131 $1,614,528
 Preferred stock
 dividends -- 46,500 -- 101,500
 Accretion of redemption premium
 on preferred stock -- -- -- 91,594
 Net income available to
 common shareholders $445,722 $603,249 $1,642,131 $1,421,434
 Earnings per share of
 common stock, before
 extraordinary loss $0.08 $0.17 $0.30 $0.41
 Extraordinary loss,
 net of tax -- (0.01) -- (0.01)
 Earnings per common
 share $0.08 $0.16 $0.30 $0.40
 Weighted average
 common shares
 outstanding 5,389,348 3,793,139 5,387,113 3,600,178
 Percentage of Total Revenues
 Three Months ended Six Months ended
 6/30/93 6/30/92 6/30/93 6/30/92
 (Unaudited) (Unaudited)
 Revenues
 Equipment rentals 77.27 75.28 77.91 75.40
 Sales of supplies and
 equipment 21.81 23.98 21.26 23.85
 Other 0.92 0.74 0.83 0.75
 Total revenues 100.00 100.00 100.00 100.00
 Rental and Sales Costs
 Cost of equipment rentals 18.83 15.84 17.95 15.58
 Rental equipment
 depreciation 18.51 17.15 17.32 16.41
 Cost of supplies and
 equipment sales 17.56 20.18 17.32 20.01
 Gross margin 45.10 46.83 47.41 48.00
 Selling, general and
 administrative 35.51 31.55 33.48 30.86
 Interest 2.40 5.71 2.31 5.77
 Income before taxes and
 extraordinary loss 7.19 9.57 11.62 11.37
 Income taxes 3.28 4.00 4.70 4.77
 Income before extraordinary
 loss 3.91 5.57 6.92 6.60
 Extraordinary loss -- 0.23 -- 0.11
 Net income 3.91 5.34 6.92 6.49
 Percentage Increase (Decrease)
 Qtr 2 1993 Six Months 1993
 Over Qtr 2 1992 Over Six Months 1992
 Revenues (Unaudited)
 Equipment rentals -3.90 -1.51
 Sales of supplies and
 equipment -14.86 -15.03
 Other 15.69 5.27
 Total revenues -6.38 -4.69
 Rental and Sales Costs
 Cost of equipment rentals 11.28 9.79
 Rental equipment
 depreciation 1.00 0.61
 Cost of supplies and
 equipment sales -18.50 -17.48
 Gross margin -9.83 -5.87
 Selling, general and
 administrative 5.36 3.38
 Interest -60.61 -61.83
 Income before taxes and
 extraordinary loss -29.66 -2.58
 Income taxes -23.20 -6.07
 Income before extraordinary
 loss -34.30 -0.06
 Extraordinary loss N/A N/A
 Net income -31.40 1.71
 -0- 8/03/93
 /CONTACT: David E. Dovenberg, vice president of finance & CFO, 612-893-3252 of Universal Hospital Services, Inc/
 (UHOS)


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

DB -- MN010 -- 9094 08/03/93 17:24 EDT
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Date:Aug 3, 1993
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