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HUMANA ANNOUNCES FIRST CALENDAR QUARTER RESULTS

 LOUISVILLE, Ky., April 20 /PRNewswire/ -- Humana Inc. (NYSE: HUM) reported earnings per share for the three months ended March 31 of $.11 compared to $.02 earned in the same period a year ago. Net income for the first quarter was $18 million compared to $3 million a year ago.
 First quarter premium revenues increased 12% to $786 million from $698 million for the same quarter a year ago. Membership at March 31, 1993 was 1,643,200 compared to 1,671,800 a year ago.
 Pretax income totaled $29 million compared to $5 million in the same period a year ago. The improvement was due to premium increases in Medicare products, continuing reductions in administrative costs as a percentage of premiums and the beneficial effect of $2.5 million of costs ($.01 per share after tax) charged to the reserves established in August 1992 as part of the company's restructuring.
 On March 1, 1993 Humana separated its acute-care hospital and managed care health plan businesses into two unrelated publicly owned companies. Humana continues to operate the health plan business and Galen Health Care, Inc. (NYSE: GHC) operates the hospital business. In connection with the separation, Humana changed its fiscal year end from August 31 to December 31.
 Humana provides managed care health plan services to approximately 1.6 million members, primarily through the operation of health maintenance organizations and preferred provider organizations.
 Summary of operating results for the three months ended:
 March 31, March 31,
 1993 1992
 Premium revenues $786,000,000 $698,000,000
 Income before income taxes $ 29,000,000 $ 5,000,000
 Net income $ 18,000,000 $ 3,000,000
 Earnings per common share $ .11 $ .02
 Shares for earnings per
 share computation 158,900,000 158,465,000
 -0- 4/20/93
 /CONTACT: Laurie G. Scarborough of Humana, 502-580-1037/
 (HUM)


CO: Humana Inc. ST: Kentucky IN: HEA SU: ERN

CM -- CH004 -- 7880 04/20/93 09:48 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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