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UNIVERSAL HOSPITAL SERVICES, INC. ANNOUNCES THIRD QUARTER EARNINGS

 UNIVERSAL HOSPITAL SERVICES, INC. ANNOUNCES THIRD QUARTER EARNINGS
 BLOOMINGTON, Minn., Nov. 3 /PRNewswire/ -- Universal Hospital Services, Inc. (NASDAQ-NMS: UHOS) today reported earnings for the third quarter of $628,945, a 39 percent increase over net income of $451,313 for the same period a year ago. Earnings available for common shareholders for the quarter increased from $0.10 per share to $0.12 per share. For the nine months ended September 30, 1992, net income increased 91 percent to $2,243,471 over net income of $1,173,133 last year. Earnings available for common shareholders for the nine months increased from $0.24 per share to $0.49 per share.
 Year-to-date net income in 1992 is net of extraordinary expenses of $28,620 ($0.01 per share) associated with retirement of the company's senior subordinated note in mid-June using a portion of the proceeds from the company's initial public offering.
 Total revenue for the third quarter was $11,594,237, with rental revenues showing a 6.2 percent growth over the same period in 1991. For the nine month period, total revenues increased to $36,474,397, with rental revenues showing a 12.2 percent increase over the comparable period.
 Slower rental revenue growth than in the prior two quarters reflects what management and other health care industry sources believe is a general softening of hospital census rates and deferral of new acquisitions by hospitals as an initial reaction to revised Medicare regulations, effective for hospital fiscal years starting after Oct. 1, 1991, which substantially revised the method for reimbursement of capital related costs for Medicare patients.
 Thomas A. Minner, president and chief executive officer, said, "Delivering quality care at a reasonable cost remains a continuing challenge for health care providers. UHS works with hospitals to assist them with their objective of increasing patient equipment utilization and reducing equipment ownership costs. We remain ideally positioned through our equipment management programs to provide a cost-effective alternative to equipment ownership."
 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 Nine Months Ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Revenues:
 Equipment rentals $8,874,452 $8,355,977 $27,633,962 $24,628,376
 Sales of supplies
 and equipment 2,626,572 3,096,574 8,559,627 9,267,863
 Other 93,213 129,031 280,808 201,149
 Total revenues 11,594,237 11,581,582 36,474,397 34,097,388
 Income before income
 taxes and
 extraordinary item 1,083,945 780,839 3,913,091 2,029,699
 Provision for income
 taxes: 455,000 329,526 1,641,000 856,566
 Net income before
 extraordinary item 628,945 451,313 2,272,091 1,173,133
 Extraordinary loss,
 net of income tax
 benefit of $20,000 -- -- 28,620 --
 Net income 628,945 451,313 2,243,471 1,173,133
 Preferred stock
 dividends -- 55,000 101,500 165,000
 Accretion of redemption
 premium on
 preferred stock -- 64,413 91,594 200,909
 Net income available
 to common
 shareholders $628,945 $331,900 $2,050,377 $807,224
 Earnings per share of
 common stock, before
 extraordinary item $.12 $.10 $.50 $.24
 Extraordinary loss,
 net of tax -- -- (.01) --
 Net income per common
 share $.12 $.10 $.49 $.24
 Weighted average common
 shares outstanding 5,337,922 3,405,096 4,181,532 3,405,105
 -0- 11/3/92
 /CONTACT: David E. Dovenberg, vice president of finance & CFO for Universal Hospital Services, 612-893-3252/
 (UHOS) CO: Universal Hospital Services, Inc. ST: Minnesota IN: MTC SU: ERN


KH -- MN002 -- 2159 11/03/92 16:03 EST
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Date:Nov 3, 1992
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