CORAL GABLES, Fla., Nov. 4 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) today announced results for the first quarter ended September
30, 1996. Net revenues for the quarter totaled $30,915,000, an increase of 6%
over net revenues of $29,129,000 from the same period a year ago. The Company
reported net income for the first quarter of $148,000 or $0.01 per share,
compared to a net loss of $391,000 or ($0.05) per share, for the same quarter
in the prior year.
Bert G. Cibran, President, stated, "The results reflect the improvement and
stabilization of the Company's core business and the continued growth of our
residential treatment services, which now account for approximately 25% of
inpatient revenues."
Ramsay Health Care, Inc. is one of the largest behavioral health services
companies in the United States, operating inpatient, outpatient and management
services in 15 states.
RAMSAY HEALTH CARE, INC.
OPERATING RESULTS
QUARTER ENDED SEPTEMBER 30
1996 1995
$ % $ %
NET REVENUES 30,915,000 100.0% 29,129,000 100.0%
Operating Expenses:
Salaries, wages and
benefits 16,616,000 53.7% 16,239,000 55.7%
Other operating expenses 11,024,000 35.7% 9,556,000 32.8%
Provision for doubtful
accounts 269,000 0.9% 956,000 3.3%
Depreciation and
amortization 1,313,000 4.2% 1,335,000 4.6%
Interest and other financing
charges 1,545,000 5.0% 1,726,000 5.9%
TOTAL OPERATING EXPENSES 30,767,000 99.5% 29,812,000 102.3%
INCOME BEFORE MINORITY INTERESTS
AND INCOME TAXES 148,000 0.5% (683,000) -2.3%
Minority Interests --- 0.1% (52,000) -0.2%
INCOME BEFORE INCOME TAXES 148,000 0.5% (631,000) -2.2%
Provision for income taxes --- -0.1% (240,000) -0.8%
NET INCOME 148,000 0.6% (391,000) -1.3%
PRIMARY EARNINGS PER SHARE $0.01 ($0.05)
Weighted Average Shares
Outstanding 8,174,000 7,721,000
SOURCE Ramsay Health Care, Inc.
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CONTACT:
Bert G. Cibran, President, 305-569-4621, or
Carol C. Lang, Chief Financial Officer, 305-569-4622, both of
Ramsay Health Care
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