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HBO & COMPANY 1992 REVENUE BREAKS RECORD

 ATLANTA, Jan. 26 /PRNewswire/ -- Healthcare information systems vendor HBO & Company (NASDAQ: HBOC) announced that 1992 revenue reached a record $202.2 million, an 18 percent increase over 1991 revenue. Revenue per employee also reached a record-breaking $122,000.
 Fully diluted earnings per share for the year totaled 85 cents, compared to a 21-cent loss per share from continuing operations in 1991.
 Operating income for 1992 as a percent of revenue improved to 10 percent. Income from continuing operations totaled $13.1 million, compared to a loss of almost $2.9 million for 1991. Also, because the company paid off its long-term debt during the third quarter of 1992 -- a quarter earlier than originally projected -- its balance sheet continues to strengthen and includes more than $7.5 million in cash at year-end.
 HBOC's fourth quarter, which ended Dec. 31, 1992, also established a new revenue record. Revenue of $60.8 million for the quarter posted a 20 percent increase over the previous quarter and a 21 percent increase over the prior year's fourth quarter.
 Income for the quarter was up 47 percent from third quarter and up 35 percent from fourth quarter 1991, reaching $5.4 million. The company realized fully diluted earnings per share of 34 cents, a 42 percent increase over third quarter and a 26 percent increase over fourth quarter 1991. Weighted average shares outstanding for the fourth quarter 1992 increased 7 percent, or 1 million shares, over the prior year fourth quarter.
 HBO & Company's Chief Executive Officer Charles W. McCall attributed the results to a high volume of domestic sales and installations of the company's UNIX/RISC-based STAR systems, increased networking installations, higher volumes of TRENDSTAR decision support software installations and productivity increases. In 1992, HBOC added 55 new customers. Even with record fourth quarter and annual 1992 revenue, the company closed 1992 with a 141 percent increase in future revenue from uninstalled systems and outsourcing. Future revenue from outsourcing stood at a record $67 million at year-end 1992.
 McCall pointed out that the company also launched a Continuous Quality Improvement (CQI) process in 1992. "We go into the new year with a more customer-focused organization as a result of the initial observations made by our CQI teams," he said. "We see our role as delivering integrated solutions that support the breadth and depth of the healthcare enterprise." He added that the company will pursue its open systems approach platforms and industry-standard operating systems.
 HBO & Company delivers a wide range of patient care, clinical, financial and strategic management products, as well as networking technologies, outsourcing and other services to healthcare organizations in the United States, United Kingdom, Canada, Australia and New Zealand.
 The following results are unaudited and prior results are restated to reflect the company's discontinuance of its equipment maintenance business in 1991:
 CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED
 (000s omitted, except for per-share data)
 3 mos. ended Year ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenue $60,823 $50,242 $202,221 $170,725
 Operating expenses:
 Cost of operations 32,727 26,668 113,825 97,562
 Marketing 6,887 5,270 22,449 19,760
 Research & development 4,851 5,007 18,959 19,151
 General & administrative 8,187 6,735 26,607 26,459
 Nonrecurring charge --- --- --- 10,883
 Total operating expenses 52,652 43,680 181,840 173,815
 Operating income (loss) 8,171 6,562 20,381 (3,090)
 Interest expense, net 34 508 506 1,235
 Income (loss) from cont. opers.
 before provision (credit)
 for income taxes 8,137 6,054 19,875 (4,325)
 Provision (credit) for
 income taxes 2,767 2,059 6,758 (1,470)
 Income (loss) from cont.
 operations 5,370 3,995 13,117 (2,855)
 Income (loss) from discont.
 opers., net of income taxes --- (4) --- (544)
 Net income (loss) $ 5,370 $ 3,991 $ 13,117 $ (3,399)
 Earnings (loss) per share:
 Primary:
 Continuing operations $ 0.34 $ 0.28 $ 0.86 $ (0.21)
 Discont. operations --- --- --- (0.04)
 Total primary $ 0.34 $ 0.28 $ 0.86 $ (0.25)
 Fully diluted:
 Continuing operations $ 0.34 $ 0.27 $ 0.85 $ (0.21)
 Discont. operations --- --- --- (0.04)
 Total fully diluted $ 0.34 $ 0.27 $ 0.85 $ (0.25)
 Weighted average shares outstanding:
 Primary 15,638 14,420 15,253 13,832
 Fully diluted 15,724 14,696 15,478 13,832
 Cash dividends declared
 per share $ 0.075 $ 0.075 $ 0.30 $ 0.30
 -0- 1/26/93
 /CONTACT: Jeanne Bateman, Investor Relations of HBO & Company, 404-393-6577/
 (HBOC)


CO: HBO & Company ST: Georgia IN: CPR SU: ERN

RA-BR -- AT001 -- 8897 01/26/93 08:19 EST
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Date:Jan 26, 1993
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