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HUMANA REPORTS THIRD QUARTER EARNINGS

 LOUISVILLE, Ky., Oct. 19 /PRNewswire/ -- Humana Inc. (NYSE: HUM) reported earnings per share of $.15 for the three months ended September 30 compared to a loss per share of $.72 for the same period in 1992. The prior year's net loss includes restructuring and unusual charges of $.75 per share recorded primarily in connection with the spin-off of Humana's hospital business.
 Excluding the divestiture of a 6,400 member plan, membership in Humana's commercial and medicare risk plans increased approximately 13,000 members during the third quarter. As anticipated, medicare supplement membership continued to decline as a result of premiums which were increased to more closely approximate competitive levels. Total membership at September 30, 1993 was 1,631,000 compared to 1,721,600 at the same date last year. Third quarter premium revenues rose to $782 million from $729 million for the same period a year ago due to increases in premium rates.
 Pretax income for the third quarter totaled $38 million compared to a loss of $166 million during the same period last year. Last year's results include restructuring and unusual charges of $171 million. Excluding these charges, pretax income for the three months ended September 30, 1992 was $5 million. Pretax income for the current year's third quarter increased as a result of premium rate increases in the company's medicare products and improved hospital utilization and favorable medical services cost experience in the commercial and medicare risk products.
 For the nine months ended September 30, earnings per share were $.38 compared to a loss per share of $.72 in the prior year. Before the $.75 restructuring charges, earnings per share for the nine months ended September 30, 1992 were $.03. Premium revenues grew to $2.3 billion from $2.2 billion a year ago.
 Humana provides managed care health plan services to over 1.6 million members, primarily through the operation of health maintenance organizations and preferred provider organizations.
 HUMANA INC.
 SUMMARY OF OPERATING RESULTS
 For the three months ended September 30:
 1993 1992
 Premium revenues $ 782,000,000 $ 729,000,000
 Income (loss) before
 income taxes $ 38,000,000 $ (166,000,000)(A)
 Net income (loss) $ 23,000,000 $ (114,000,000)(A)
 Earnings (loss) per common share $ .15 $ (.72)(A)
 Shares for earnings per
 share computation 159,345,000 158,694,000
 For the nine months ended September 30:
 1993 1992
 Premium revenues $2,346,000,000 $2,150,000,000
 Income (loss) before
 income taxes $ 97,000,000 $(164,000,000)(A)
 Net income (loss) $ 60,000,000 $(113,000,000)(A)
 Earnings (loss) per common share $ .38 $ (.72)(A)
 Shares for earnings per
 share computation 159,095,000 158,563,000
 (A) Includes $171 million ($118 million net of tax or $.75 per share) of charges related to restructuring and unusual charges.
 -0- 10/9/93
 /CONTACT: Laurie G. Scarborough of Humana, 502-580-1037/
 (HUM)


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

CM -- CH003 -- 3820 10/19/93 09:54 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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