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HUMANA REPORTS THIRD QUARTER EARNINGS

 HUMANA REPORTS THIRD QUARTER EARNINGS
 LOUISVILLE, Ky., June 18 /PRNewswire/ -- Humana Inc. (NYSE: HUM)


reported earnings per share of 48 cents for the three months ended May 31, compared with 64 cents earned a year ago, adjusted for a 3-for-2 stock split.
 Net income for the fiscal third quarter was $75 million. In the same period a year ago, net income was $101 million. Revenues were $1.6 billion, up 2 percent from the year earlier period.
 Operating income of Humana's hospitals declined in the third quarter to $151 million from $192 million in the year earlier period. Revenues declined 5 percent to $1.03 billion from $1.08 billion. The decline in hospital operating income resulted from a downturn in hospital volumes and a greater proportion of discounted business. Admissions and patient days on a same-hospital basis dropped 4.7 percent and 7.6 percent, respectively.
 Humana health plans' operating income for the third quarter was $22 million, compared with $25 million a year ago. Premium revenues rose to $714 million from $619 million last year. The decline in health plan operating income resulted primarily from increased medical claims costs for Medicare risk products. Health plan membership increased 5 percent from a year ago to 1.72 million, including a 61,400-member acquisition in April 1992. Revenues paid by Humana health plans to Humana hospitals and eliminated in consolidation increased to $114 million from $104 million. Humana health plans contributed 26 percent of total Humana hospital admissions, unchanged from a year ago.
 For the nine months ended May 31, net income was $237 million or $1.50 per share, compared with $263 million or $1.68 a year ago. Revenues climbed to $4.8 billion from $4.3 billion.
 Humana is an integrated health care company that owns and operates 78 acute-care hospitals and offers a variety of health benefit plans for employee groups and Medicare beneficiaries.
 Summary of consolidated operating results for the three months ended May 31:
 1992 1991
 Revenues $1,627,000,000 $1,593,000,000
 Income before income
 taxes 118,000,000 158,000,000
 Net income 75,000,000 101,000,000
 Earnings per common share $ .48 $ .64
 Shares for earnings
 per share computation 158,514,913 157,575,216
 For the nine months ended May 31:
 1992 1991
 Revenues $4,815,000,000 $4,302,000,000
 Income before income
 taxes 371,000,000 413,000,000
 Net income 237,000,000 263,000,000
 Earnings per common share $ 1.50 $ 1.68
 Shares for earnings
 per share computation 158,445,007 157,118,430
 Share and per share data for 1991 reflect a 3-for-2 stock split distributed August 1, 1991.
 -0- 6/18/92
 /CONTACT: Tyree G. Wilburn, Humana Inc., 502-580-1222/
 (HUM) CO: Humana Inc. ST: Kentucky IN: HEA SU: ERN


CM -- CH002 -- 1412 06/18/92 10:09 EDT
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Date:Jun 18, 1992
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