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MEDAPHIS REPORTS 38 PERCENT INCREASE IN THIRD QUARTER EARNINGS PER SHARE

 ATLANTA, Oct. 26 /PRNewswire/ -- Medaphis Corporation (NASDAQ-NMS: MEDA) today announced results for the third quarter and nine months ended Sept. 30, 1993.
 For the three months ended Sept. 30, 1993, revenue was $42.5 million, up 65 percent from $25.8 million in the year-earlier period. Net Income for the third quarter rose 43 percent to $2.4 million compared with $1.7 million a year ago, and net income per share increased 38 percent to $0.22 on 11,311,000 average shares outstanding vs. $0.16 on 10,888,000 average shares outstanding last year.
 Revenue for the nine months ended Sept. 30, 1993, was $119.0 million, up 66 percent from $71.6 million in the same period in 1992. Net income for the nine months increased 45 percent to $6.4 million compared with $4.4 million in the year-earlier period. Net income per share for the first nine months increased 32 percent to $0.58 on 11,089,000 average shares outstanding as compared to $0.44 on 10,049,000 average shares outstanding in the year-earlier period. These results were achieved despite a 10 percent increase in the average number of shares outstanding and an increase in the company's effective tax rate from 30 percent to 39 percent.
 Commenting on the results, Randolph G. Brown, chief executive officer, noted, "Both acquisitions and internal growth contributed to the increase in revenue and earnings. Our annualized client retention rate and internal revenue growth for the nine months ended Sept. 30, 1993, remained strong at approximately 95 percent and 15 percent respectively."
 Brown remarked, "We are pleased with the positive results generated from the acquisitions of Medical Management of New England on July 21, 1993, and Gottlieb's Financial Services, Inc. on Sept. 1, 1993, and look forward to completing the acquisition of the Practice Management Division of CyCare Systems, Inc. in early to mid-November."
 Medaphis is a leading provider of business management services, primarily billing and accounts receivable management services to hospital-affiliated physicians and hospitals. Based in Atlanta, Medaphis currently serves approximately 6,400 hospital-affiliated physicians and over 375 hospitals in 45 states across the United States.
 MEDAPHIS CORPORATION
 Financial Highlights
 Three months ended Sept. 30 1993 1992
 Revenue $42,454,000 $25,789,000
 Income before income taxes 3,946,000 2,424,000
 Income taxes 1,499,000 715,000
 Net income 2,447,000 1,709,000
 Net income per common share $0.22 $0.16
 Weighted average shares outstanding 11,311,000 10,888,000
 Nine months ended Sept. 30 1993 1992
 Revenue $119,038,000 $71,580,000
 Income before income taxes, extraordinary
 loss and cumulative effect of change in
 accounting for income taxes 10,489,000 5,788,000
 Income taxes 4,079,000 1,724,000
 Income before extraordinary loss and
 cumulative effect of change in
 accounting for income taxes 6,390,000 4,064,000
 Extraordinary loss related to prepayment
 of debt, net of income tax benefit -- (2,139,000)
 Cumulative effect of change in accounting
 for income taxes (adoption of SFAS 109) -- 2,480,000
 Net income 6,390,000 4,405,000
 Income per common share:
 Before extraordinary loss and cumulative
 effect of accounting change $0.58 $0.40
 Extraordinary loss -- (0.21)
 Effect of accounting change -- 0.25
 Net income 0.58 0.44
 Weighted average shares outstanding 11,089,000 10,049,000
 -0- 10/26/93
 /CONTACT: Michael R. Cote, CFO of Medaphis, 404-319-3349/
 (MEDA)


CO: Medaphis Corporation ST: Georgia IN: HEA SU: ERN

TM-CK -- NY006 -- 6698 10/26/93 08:12 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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