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HBO & COMPANY SECOND QUARTER EARNINGS UP 47 PERCENT, REVENUE UP 26 PERCENT

 ATLANTA, July 20 /PRNewswire/ -- HBO & Company (NASDAQ: HBOC) (HBOC) today reported that second quarter earnings per share increased 47 percent over second quarter 1992 -- from 17 cents to 25 cents.
 For the six months ended June 30, earnings per share totaled 43 cents, a 59 percent increase over the prior year period.
 Led by continued demand for HBOC's UNIX/RISC-based solutions, second quarter revenue came in at $57.5 million, up 26 percent over last year's second quarter. This brought the company's six-month revenue to $109.8 million, a 21 percent increase over the same period of 1992.
 During the quarter, HBOC added eight new STAR customers, including two international customers. With the marketplace's growing focus on patient outcomes, demand for the company's decision support tools has increased. The HBOC Connect Technology Group's network sales and installations also continue to grow as healthcare enterprises view connectivity as an important part of their information infrastructure.
 Last month, the company completed the acquisition of Biven Software, Inc., an Atlanta-based supplier of managed care applications and system integration solutions. HBOC's chief executive officer, Charles W. McCall, commented that the acquisition tremendously expands the scope of HBOC's enterprisewide solutions.
 "This acquisition allows HBOC to meet the needs of the emerging managed care/managed competition environment," said McCall. The Biven managed care offering was developed using fifth-generation technologies, which will be utilized with future HBOC product offerings to shorten development cycles.
 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:
 HBO & COMPANY
 Consolidated Statements of Income - Unaudited
 (000s omitted, except for per-share data)
 3 mos. ended 6 mos. ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Revenue $57,465 $45,435 $109,772 $ 90,729
 Operating expenses:
 Cost of operations 32,030 26,107 60,736 53,152
 Marketing 7,219 5,025 14,907 10,162
 Research & development 5,269 4,873 10,770 9,598
 General & administrative 6,383 5,602 11,983 11,371
 Total operating expense 50,901 41,607 98,396 84,283
 Operating income 6,564 3,828 11,376 6,446
 Interest inc. (exp.), net (163) 155 (322) (257)
 Income before provision
 for income taxes 6,401 3,983 11,054 6,189
 Provision for income taxes 2,496 1,354 4,311 2,104
 Net income $ 3,905 $ 2,629 $ 6,743 $ 4,085
 Earnings per share:
 Primary $ 0.25 $ 0.17 $ 0.43 $ 0.27
 Fully diluted $ 0.25 $ 0.17 $ 0.43 $ 0.27
 Weighted average shares outstanding:
 Primary 15,342 15,421 15,624 15,118
 Fully diluted 15,495 15,421 15,754 15,134
 -0- 7/20/93
 /CONTACT: Jeanne N. Bateman, investor relations of HBO & Co., 404-393-6577/
 (HBOC)


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

BN-RA -- AT001 -- 6896 07/20/93 07:33 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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