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CENTEX TELEMANAGEMENT REPORTS RECORD FIRST QUARTER 1993 BILLINGS AND HIGHER EARNINGS

 SAN FRANCISCO, May 6 /PRNewswire/ -- Centex Telemanagement Inc. (NASDAQ-NMS: CNTX) today reported record-high client billings, higher earnings and an all-time high client list for the first quarter of 1993.
 Client billings for the latest quarter were $49.6 million, a 12.7-percent gain over the $44.0 million recorded for the first quarter of 1992, and a gain of $1.9 million in billings over the previous quarter. Net income for the quarter was $1.8 million, or 10 cents per share, double the net income for the previous quarter but under the $2.7 million, or 14 cents per share, for the first quarter of 1992. Centex's balance sheet continues to be very strong, with cash and cash equivalents of $25.3 million on March 31, 1993, and no debt. Centex's client list increased to an all-time high of 11,270 at the end of the quarter.
 Centex Chairman, President and Chief Executive Officer Peter A. Howley said, "We're pleased with our results, which have been achieved while continuing our planned major investments in infrastructure and in geographic expansion despite the sluggishness in the California and national economy. Our significant growth in net income over the previous quarter indicates that the substantial internal investments we've made in systems, procedures and people over the last year are already beginning to bear fruit."
 Howley said that Centex is now in the completion stages of these internal investments, which have included improving the company's management information and client billing systems, developing new processing controls and establishing other programs which improve productivity.
 "We continue to expand into new geographic areas to further position Centex for rapid growth," Howley added. "We've doubled our sales force in the Eastern and Midwestern regions since the middle of 1992. During the first quarter we also opened a new sales and service office in Baltimore, Md., increasing our presence to 21 offices in nine states."
 Howley also added that Centex expects to benefit from the changes that are taking place in the telecommunications industry. Among these is the FCC's ruling on 800-number portability, effective May 1, that allows subscribers to switch carriers without changing their 800 numbers. Another is the pending ruling by the California Public Utilities Commission that is expected to open the California intraLATA toll-calling market to broader competition for the local telephone companies.
 "These changes are going to create even more user uncertainties in telecommunications, choices which always mean more opportunities for Centex," Howley said. "We believe that our revised infrastructure, combined with our ever-expanding client base and service offerings, make Centex very well-positioned to benefit from these new developments."
 Centex Telemanagement pioneered the telecommunications management concept in 1985 and today is the largest provider in the industry of outsource telecommunications management services to small and medium- sized businesses.
 Centex provides a single point of management that analyzes client telecommunications needs and selects and manages the appropriate mix of services from various third-party providers. Centex's industry-leading array of services includes cost-effective management reports for members, multi-vendor coordination and management, equipment analysis and call-routing optimization and accounting.
 CENTEX TELEMANAGEMENT INC.
 Consolidated Statements of Operations
 (in thousands, except for per-share amounts)
 Three Months Ended March 31,
 1993 1992
 Billings to clients $ 49,570 $ 43,979
 Costs and expenses
 Telecommunications service
 costs 33,630 29,278
 Client acquisition expenses 6,930 5,548
 General and administrative
 expenses 6,068 5,090
 Total costs and expenses 46,628 39,916
 Operating income 2,942 4,063
 Interest income, net 163 248
 Income before income tax 3,105 4,311
 Income taxes (1,308) (1,638)
 Net income $ 1,797 $ 2,673
 Net income per share $ 0.10 $ 0.14
 Shares used in computing net
 income per share 18,649 19,697
 Consolidated Balance Sheets
 (In thousands)
 March 31, March 31, Dec. 31,
 1993 1992 1992
 Assets:
 Cash and short-term
 investments $ 25,294 $ 24,578 $ 21,420
 Accounts receivable, net 36,191 33,607 36,760
 Other current assets 3,335 2,953 3,144
 Total current asseuc 64,820 61,138 61,324
 Fixed assets 21,149 14,382 19,518
 Accumulated depreciation and
 amortization (6,253) (3,848) (5,518)
 Other assets 3,195 2,428 3,021
 Total assets $ 82,911 $ 74,100 $ 78,345
 Liabilities and stockholders' equity:
 Accounts payable $ 24,011 $ 18,307 $ 21,674
 Other current liabilities 4,525 2,706 3,050
 Total current liabilities 28,536 21,013 24,724
 Deferred income taxes 1,533 1,063 1,437
 Total liabilities 30,069 22,076 26,161
 Common stock 102 101 102
 Paid in capital 43,217 40,919 42,875
 Retained earnings 35,833 27,933 34,037
 Cost of reacquired stock (26,310) (16,929) (24,830)
 Total stockholders' equity $ 52,842 $ 52,024 $ 52,184
 Total liabilities and
 stockholders' equity $ 82,911 $ 74,100 $ 78,345
 -0- 5/6/93
 /CONTACT: Peter A. Howley, chairman, president and chief executive officer of Centex Telemanagement, 415-882-2300/
 (CNTX)


CO: Centex Telemanagement Inc. ST: California IN: TLS SU: ERN

GT-TM -- SF013 -- 5609 05/06/93 16:01 EDT
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Date:May 6, 1993
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