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UNIVERSAL HOSPITAL SERVICES, INC. ANNOUNCES THIRD QUARTER EARNINGS

 BLOOMINGTON, Minn., Nov. 2 /PRNewswire/ -- Universal Hospital Services, Inc. (NASDAQ: UHOS) today reported net income for the third quarter of $298,214, a 52.6 percent decrease from net income of $628,945 for the same period a year ago. Earnings available for common shareholders for the quarter decreased from $0.12 per share to $0.06 per share. Net income for the nine months ended Sept. 30, 1993 declined to $1,940,345 from $2,243,471 for the same period in 1992. Earnings per share for the period decreased from $0.49 per share to $0.36 per share.
 Rental revenue for the third quarter was $8,633,790 showing a 2.7 percent decline from $8,874,452 for the same period in 1992. The company attributes this weakness in rental revenues to a continuation of generally lower hospital census rates and the propensity by its hospital customers to defer replacing or upgrading existing equipment as a result of continuing uncertainty on the direction of national healthcare reform. Total revenues decreased 4.9 percent to $11,031,271 from $11,594,237 for the third quarter of 1992, reflecting a a continuing reduction in lower margin disposable product sales. Rental revenues and total revenues declined by 1.9 percent and 4.7 percent, respectively, for the nine months ended Sept. 30, 1993 compared to the same period in 1992.
 The company also announced the continuation of its consistent geographic expansion with its 37th office to be opened in the New York City area in December or January.
 Universal Hospital Services, Inc. provides movable medical equipment to hospitals and other healthcare providers through equipment management programs utilizing Pay-Per-Use(TM) 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
 9/30/93 9/30/92 9/30/93 9/30/92
 1992 Revenues:
 Equipment rentals $8,633,790 $8,874,452 $27,109,165 $27,633,962
 Sales of supplies
 and equipment 2,285,751 2,626,572 7,326,901 8,559,627
 Other 111,730 93,213 309,219 280,808
 Total revenues 11,031,271 11,594,237 34,745,285 36,474,397
 Costs and expenses:
 Cost of
 equipment rentals 2,329,312 2,006,873 6,585,546 5,883,605
 Rental equipment
 depreciation 2,230,000 2,124,061 6,338,000 6,207,183
 Cost of supplies
 and equipment sales 1,905,489 2,222,315 6,013,596 7,200,537
 Selling, general
 and administrative 3,810,774 3,778,445 11,748,606 11,456,614
 Interest 253,482 378,598 801,192 1,813,367
 Total costs and
 expenses 10,529,057 10,510,292 31,486,940 32,561,306
 Income before income taxes and
 extraordinary loss 502,214 1,083,945 3,258,345 3,913,091
 Provision for income taxes:
 Current 259,000 439,000 1,478,000 1,570,000
 Deferred (55,000) 16,000 (160,000) 71,000
 -- 204,000 455,000 1,318,000 1,641,000
 Net income before
 extraordinary loss 298,214 628,945 1,940,345 2,272,091
 Extraordinary loss, net of income
 tax benefit of $20,000 -- -- -- 28,620
 Net income $298,214 $628,945 $1,940,345 $2,243,471
 Preferred stock dividends -- -- -- 101,500
 Accretion of redemption
 premium on preferred stock -- -- -- 91,594
 Net income available to
 common shareholders $298,214 $628,945 $1,940,345 $2,050,377
 Earnings per share
 of common stock, before
 extraordinary loss $0.06 $0.12 $0.36 $0.50
 Extraordinary loss, net of tax (0.01)
 Earnings per
 common share $0.06 $0.12 $0.36 $0.49
 Weighted average common
 shares outstanding 5,399,186 5,337,922 5,390,957 4,181,532
 Percentage of Total Revenues
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 (Unaudited) (Unaudited)
 Revenues
 Equipment rentals 78.27 76.54 78.02 75.76
 Sales of supplies
 and equipment 20.72 22.66 21.09 23.47
 Other 1.01 0.80 0.89 0.77
 Total revenues 100.00 100.00 100.00 100.00
 Rental and Sales Costs
 Cost of
 equipment rentals 21.12 17.31 18.95 16.13
 Rental equipment
 depreciation 20.21 18.32 18.24 17.02
 Cost of supplies and
 equipment sales 17.27 19.17 17.31 19.74
 Gross Margin 41.40 45.20 45.50 47.11
 Selling, General and
 Administrative 34.55 32.59 33.81 31.41
 Interest 2.30 3.26 2.31 4.97
 Income Before Taxes and
 Extraordinary Loss 4.55 9.35 9.38 10.73
 Income Taxes 1.85 3.93 3.80 4.50
 Income Before
 Extraordinary Loss 2.70 5.42 5.58 6.23
 Extraordinary Loss -- -- -- 0.08
 Net Income 2.70 5.42 5.58 6.15
 Percentage Increase (Decrease)
 Qtr 3 1993 Nine months 1993
 Over Qtr 3 1993 Over nine months 1992
 Revenues
 Equipment rentals (2.71) (1.90)
 Sales of supplies
 and equipment (12.98) (14.40)
 Other 9.87 10.12
 Total revenues (4.86) (4.74)
 Rental and Sales Costs
 Cost of
 equipment rentals 16.07 11.93
 Rental equipment
 depreciation 14.99 2.11
 Cost of supplies and
 equipment sales (14.26) (16.48)
 Gross Margin (12.87) (8.00)
 Selling, General and
 Administrative 0.86 2.55
 Interest (33.05) (55.82)
 Income Before Taxes and
 Extraordinary Loss (53.67) (16.73)
 Income Taxes (55.16) (19.68)
 Income Before (52.59) (14.60)
 Extraordinary Loss N/A (100.00)
 Net Income (52.59) (13.51)
 -0- 11/2/93
 /CONTACT: David E. Dovenberg, vice president of finance & CFO, Universal Hospital Services, 612-893-3252/
 (UHOS)


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

DS-DB -- MN015 -- 9838 11/02/93 17:15 EST
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Date:Nov 2, 1993
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