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HBOC FIRST QUARTER EARNINGS UP 80 PERCENT ON 15 PERCENT REVENUE INCREASE

 ATLANTA, April 14 /PRNewswire/ -- HBO & Company (NASDAQ: HBOC) today reported earnings per share of 18 cents for its first quarter ended March 31.
 This was an 80 percent increase over the 10 cents earned in the first quarter last year, in spite of a higher effective income tax rate this year. Chief Executive Officer Charles W. McCall called the results a strong start for 1993.
 The company's first-quarter revenue totaled $52.3 million, a 15 percent increase over first quarter 1992. The increase was primarily due to a higher level of UNIX/RISC solution installations, plus the addition of two new outsourcing customers. Revenue per employee reached a new record of $124,000 for the preceding 12 months.
 Operating expense, held in check by the company's continuing expense control program, increased only 11 percent to $47.5 million. Operating income for the quarter rose to $4.8 million, up from $2.6 million in first quarter 1992.
 McCall noted that the company increased its level of first-quarter STAR system installations by 74 percent, to 54 vs. 31 for the same period in 1992. "With the growth of information-intensive community- based health networks that we anticipate will result from Washington's healthcare reform initiatives, we foresee continued increases in demand for HBOC's system solutions," commented McCall.
 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.
 HBO & COMPANY
 CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED
 (000s omitted, except for per-share data)
 3 months ended 3/31/93 3/31/92
 Revenue $52,307 $45,294
 Operating expense:
 Cost of operations 28,706 27,045
 Marketing 7,688 5,137
 Research & development 5,501 4,725
 General & administrative 5,600 5,769
 Total operating expense 47,495 42,676
 Operating income 4,812 2,618
 Interest expense, net 159 412
 Income before provision for income taxes 4,653 2,206
 Provision for income taxes 1,815 750
 Net income $ 2,838 $ 1,45
 Earnings per share:
 Primary $ 0.18 $ 0.10
 Fully diluted $ 0.18 $ 0.10
 Weighted average shares outstanding:
 Primary 15,891 14,784
 Fully diluted 15,893 14,980
 -0- 4/14/93
 /CONTACT: Jeanne Bateman, investor relations of HBO & Co., 404-393-6577/
 (HBOC)


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

BR-BN -- AT010 -- 5831 04/14/93 15:22 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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