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MEDAPHIS REPORTS GAINS IN 1992 REVENUE AND EARNINGS

 ATLANTA, Feb. 23 /PRNewswire/ -- Medaphis Corporation (NASDAQ-NMS: MEDA) today announced operating results for the fourth quarter and year ended Dec. 31, 1992.
 For the three months ended Dec. 31, 1992, net revenue and $25.8 million, up 57 percent from $16.5 million in the year -- earlier period. Net income for the fourth quarter of 1992 rose 68 percent to $1.7 million compared with $1.0 million a year ago. Net income per share increased 33 percent to 16 cents on 10,980,000 average shares outstanding versus 12 cents on 8,338,000 average shares outstanding for the 1991 fourth quarter.
 Net revenue was $97.4 million for the year ended Dec. 31, 1992, up 75 percent from $55.6 million for the year ended Dec. 31, 1991. Net income for 1992 rose 93 percent to $6.1 million compared with $3.2 million in 1991. On a per share basis, net income increased 33 percent to 60 cents on 10,278,000 average shares outstanding versus 45 cents on 7,022,000 average shares outstanding last year. The results for 1992 included a net benefit of $341,000 or 3 cents per share, resulting from a $2.1 million extraordinary loss arising from the prepayment of debt and a $2.5 million benefit arising from the adoption on Jan. 1, 1992 of SFAS No. 109, the new income tax accounting standard. Both of these one- time items were recorded in the 1992 first quarter.
 Randolph G. Brown, chief executive officer, said, "The strength of the company's performance during 1992 is reflected in our 146 percent growth in income before taxes and extraordinary items." Adoption of SFAS 109 led to Medaphis' earnings being reported on a taxed basis for the first time during 1992. The increases of 32 percent and 46 percent in the average number of shares outstanding for the fourth quarter and the year, respectively, were due to the company's common stock offerings in October 1991 and May 1992.
 Brown remarked, "Internal growth and acquisitions contributed to the increases in our revenue and earnings during 1992. On Dec. 31, 1992, we acquired CompMed, Inc. While the merger did not affect operating results in 1992, CompMed will increase our ability to service current and new customers and to growing revenue and profits in the future."
 Medaphis is a leading provider of billing, accounts receivable and other business management services to hospital-affiliated physicians and hospitals. Based in Atlanta, Medaphis currently serves approximately 4,500 hospital-affiliated physicians and 250 hospitals across the United States.
 MEDAPHIS CORPORATION
 Financial Highlights
 Three months ended Dec. 31 1992 1991
 Net revenue $25,805,000 $16,482,000
 Income before income taxes 2,433,000 1,096,000
 Income taxes 697,000 63,000
 Net income 1,736,000 1,033,000
 Net income per common share $0.16 $0.12
 Weighed average shares outstanding 10,980,000 8,338,000
 Year ended Dec. 31 1992 1991
 Net revenue $97,385,000 $55,643,000
 Income before income taxes,
 extraordinary loss and cumulative
 effect of change in accounting
 for income taxes 8,221,000 3,341,000
 Income taxes 2,422,000 166,000
 Income before extraordinary loss
 and cumulative effect of change
 in accounting for income taxes 5,799,000 3,175,000
 Extraordinary loss related to
 prepayment of debt, net of
 income tax benefit (2,139,000) --
 Cumulative effect of change in
 accounting for income taxes
 (adoption of SFAS 109) 2,480,000 --
 Net income 6,140,000 3,175,000
 Income per common share:
 Before extraordinary loss
 and cumulative effect
 of accounting change $0.57 $0.45
 Extraordinary loss (0.21) --
 Effect of accounting change 0.24 --
 Net income 0.60 0.45
 Weighed average shares outstanding 10,278,000 7,022,000
 MEDAPHIS CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Income
 (In thousands, except per share data)
 Periods ended Quarter Year
 Dec. 31 1992 1991 1992 1991
 Net revenue $25,805 $16,482 $97,385 $55,643
 Salaries and wages 14,670 9,499 55,753 31,448
 Other operating expenses 7,211 4,608 27,560 16,169
 Depreciation 817 600 2,999 2,134
 Amortization 441 196 1,502 532
 Interest expense, net 233 483 1,350 2,019
 Total expenses 23,372 15,386 89,164 52,302
 Income before income taxes,
 extraordinary loss and
 cumulative effect of
 change in accounting
 for income taxes 2,433 1,096 8,221 3,341
 Income taxes 697 63 2,422 166
 Income before extraordinary
 loss and cumulative effect
 of change in accounting
 for income taxes 1,736 1,033 5,799 3,175
 Extraordinary loss relating
 to prepayment of debt,
 net of income tax benefit -- -- (2,139) --
 Cumulative effect of change
 in accounting for income taxes -- -- 2,480 --
 Net income 1,736 1,033 6,140 3,175
 Income per common share:
 Income before extraordinary
 loss and cumulative effect
 of change in accounting
 for income taxes $0.16 $0.12 $0.57 $0.45
 Extraordinary loss -- -- (0.21) --
 Cumulative effect of change
 in accounting for income taxes -- -- 0.24 --
 Net income per common share $0.16 $0.12 $0.60 $0.45
 Weighted average shares
 outstanding 10,980 8,338 10,278 7,022
 -0- 2/23/93
 /CONTACT: Timothy J. Kilgallon, chief financial officer of Medaphis Corporation, 404-319-3349/
 (MEDA)


CO: Medaphis Corporation ST: Georgia IN: HEA SU: ERN

PS-TS -- NY014 -- 9283 02/23/93 09:20 EST
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Date:Feb 23, 1993
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