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FOR IMMEDIATE RELEASE
RAMSAY YOUTH SERVICES, INC.
ANNOUNCES SECOND QUARTER RESULTS
CORAL GABLES, FLORIDA, AUGUST 3, 2000 . . . RAMSAY YOUTH SERVICES, INC.
(NASDAQ:RYOU) today announced results for the second quarter ended June 30,
2000. The Company reported for the second quarter that total revenue increased
by 28% to $25,257,000 from $19,775,000 for the same period a year ago. Net
income for the quarter reached $563,000, or $0.06 per share. These results
exclude the effects of non-operating losses of ($456,000) or ($0.05) relating to
the sale of certain assets.
For the six months ended June 30, 2000, the Company recorded total revenues of
$48,714,000 an increase of 26% as compared to $38,667,000 for the same period in
the prior year. Net income for the six months ended June 30, 2000, totaled
$723,000 or $0.08 per share. These results exclude the effects of non-operating
losses relating to the sale of certain assets. During the same period in the
prior year the company recorded net income of $562,000 or $0.06 per share. These
results exclude the non-recurring impact of two settlements in favor of the
Company which increased the six months ended period results by $1,500,000 or
$0.17 per share.
Commenting on the results, Luis E. Lamela, President and CEO of Ramsay Youth
Services, Inc. said, "The second quarter and mid-year results reflect our
continued success in penetrating existing markets with our quality programs and
services. Our programs focus on the rehabilitation of youth and are tailored to
meet diverse needs."
Ramsay Youth Services, Inc. is a leading quality provider and manager of
treatment, education and community-based programs for at-risk, troubled and
special needs youth. The Company has operations 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.
Forward-looking statements involve known and unknown risks and uncertainties.
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.
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Tables Follow
Contact: Isa Diaz
Vice President Corporate Relations
(305) 569-4626
