Ramsay Youth Services, Inc. Announces First Quarter Results

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Ramsay Youth Services, Inc. Announces First Quarter Results
    CORAL GABLES, Fla., May 15 /PRNewswire/ --
Ramsay Youth Services, Inc. (Nasdaq: RYOU) today announced results for the
first quarter ended March 31, 2001.  The Company reported total revenues of
$31,789,000, an increase of 36% over total revenues of $23,457,000 from the
same period of the prior year.  Net income for the first quarter increased to
$384,000, or $0.04 per share, up from $160,000 or $0.02 per share in the same
quarter of the prior year.
    Commenting on first quarter results, Luis E. Lamela, President and CEO of
Ramsay Youth Services, Inc., stated, "We are pleased with the growth in
revenues and net income this quarter.  The results reflect our strategy of
focusing on the expansion of specialized treatment and juvenile justice
programs in the markets we serve."
    Ramsay Youth Services, Inc. is a leading provider and manager of
specialized treatment and juvenile justice programs and services.  The Company
serves youth in nine states and the Commonwealth of Puerto Rico.

    Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements as defined under the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements involve known and unknown risks and
uncertainties including the uncertainties regarding the resolution of issues
in Puerto Rico.  Actual operations and results may differ materially from
those expected in the forward-looking statements made by the Company.  Please
refer to Ramsay's filings with the Securities and Exchange Commission for
additional information.

    Table Follows


                 RAMSAY YOUTH SERVICES, INC. AND SUBSIDIARIES
                               OPERATING RESULTS


                                           QUARTER ENDED MARCH 31,
                                          2001                 2000

    Revenues                       $31,789,000   100%   $23,457,000  100.0%

    Operating expenses:
       Salaries, wages and
        benefits                    19,827,000  62.4%     14,687,000  62.6%
       Other operating expenses      8,992,000  28.3%      6,931,000  29.6%
       Provision for doubtful
        accounts                       832,000   2.6%        581,000   2.5%
       Depreciation and
        amortization                   593,000   1.9%        590,000   2.5%
    Total operating expenses        30,244,000  95.2%     22,789,000  97.2%

    Income from operations           1,545,000   4.8%        668,000   2.8%

    Non-operating expenses:
       Investment and other income         ---   0.0%         28,000   0.1%
       Interest and other
        financing charges, net        (985,000) (3.1%)       (494,000)(2.1%)
          Total non-operating
           expenses, net              (985,000) (3.1%)       (466,000)(2.0%)


    Income before income taxes         560,000   1.7%        202,000   0.8%

    Provision for income taxes         176,000   0.5%         42,000   0.2%

     Net income                       $384,000   1.2%       $160,000   0.6%


    Income per common share:
       Basic                             $0.04                 $0.02
       Diluted                           $0.04                 $0.02

    Weighted average number of
     common shares outstanding:
       Basic                         8,929,000             8,895,000
       Diluted                       8,929,000             9,003,000
SOURCE Ramsay Youth Services, Inc.
http://www.ramsay.com
Company News On-Call:
http://www.prnewswire.com/comp/116733.html or fax,
800-758-5804, ext. 116733
CONTACT:
Isa Diaz, Vice President, Corporate Relations
of Ramsay Youth Services, Inc., 305-569-4626