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MEDAPHIS REPORTS 56 PERCENT INCREASE IN SECOND QUARTER NET INCOME

 ATLANTA, July 27 /PRNewswire/ -- Medaphis Corporation (NASDAQ-NMS: MEDA) today announced results for the second quarter and six months ended June 30, 1993.
 For the three months ended June 30, 1993, revenue was $39.3 million, up 55 percent from $25.3 million in the year earlier period. Net income for the second quarter rose 56 percent to $2.1 million compared with $1.4 million a year ago, and net income per share increased 36 percent to $0.19 on 11,001,000 average shares outstanding versus $0.14 on 9,847,000 average shares outstanding a year ago.
 Revenue for the six months ended June 30, 1993 was $76.6 million, up 67 percent from $45.8 million in the same period in 1992. Net income for the six months was $3.9 million, representing a 46 percent increase over the $2.7 million reported in the year-earlier period. Net income per share for the first six months increased 29 percent to $0.36 on 11,005,000 average shares outstanding versus $0.28 on 9,630,000 average shares outstanding in the year-earlier period. The results for the six months ended June 30, 1992 included two one-time items that resulted in a net benefit of $341,000, or $0.03 per share.
 Commenting on the results, Randolph G. Brown, chief executive officer, noted, "Both internal growth and the acquisition of CompMed, Inc. on Dec. 31, 1992 contributed to the growth in revenue and earnings. For the six months ended June 30, 1993, internal revenue growth was 16 percent and our annualized client retention rate was approximately 94 percent. The increase in net income per share for the second quarter was achieved despite a 12 percent increase in the average number of shares outstanding and an increase in the effective tax rate from 30 percent to 40 percent, reflecting the adoption of SFAS 109."
 Brown remarked, "On July 21, 1993 we completed the acquisition of Medical Management of New England, Inc. which significantly increased our presence in the New England market. We consider Medical Management of New England, Inc. to be well managed and believe it will be a valuable addition to our physician operations."
 Medaphis is a leading provider of billing, accounts receivable and other business management services to hospital-affiliated physicians and hospitals. Based in Atlanta, Medaphis currently serves approximately 5,300 hospital-affiliated physicians and 325 hospitals across the United States.
 MEDAPHIS CORPORATION
 Financial Highlights
 Three months ended June 30 1993 1992
 Revenue $39,272,000 $25,290,000
 Income before income taxes 3,504,000 1,926,000
 Income taxes 1,402,000 576,000
 Net income 2,102,000 1,350,000
 Net income per common share $0.19 $0.14
 Weighted average shares outstanding 11,001,000 9,847,000
 Six months ended June 30 1993 1992
 Revenue $76,584,000 $45,791,000
 Income before income taxes,
 extraordinary loss and cumulative
 effect of change in accounting
 for income taxes 6,524,000 3,364,000
 Income taxes 2,580,000 1,010,000
 Income before extraordinary loss
 and cumulative effect of change
 in accounting for income taxes 3,944,000 2,354,000
 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 SFAS 109) -- 2,480,000
 Net income $3,944,000 $2,695,000
 Income Per Common Share:
 Before extraordinary loss
 and cumulative effect of
 accounting change $0.36 $0.24
 Extraordinary loss -- (0.22)
 Effect of accounting change -- 0.26
 Net income $0.36 $0.28
 Weighted average shares
 outstanding 11,005,000 9,630,000
 MEDAPHIS CORPORATION AND SUBSIDIARIES
 Consolidated Statement of Income
 (unaudited, in thousands except per share data)
 Periods ended Three months Six months
 June 30, 1993 1992 1993 1992
 Revenue $ 39,272 $ 25,290 $ 76,584 $ 45,791
 Salaries & wages 22,139 14,706 43,018 26,393
 Other operating
 expenses 10,160 7,143 19,981 13,025
 Depreciation 1,079 722 2,307 1,431
 Amortization 1,021 389 2,041 633
 Int. expense, net 1,369 404 2,713 945
 Total expenses 35,768 23,364 70,060 42,427
 Inc. bef. inc. taxes,
 extraord. item and
 cumulative effect of
 change in accounting for
 inc. taxes 3,504 1,926 6,524 3,364
 Income taxes 1,402 576 2,580 1,010
 Inc. bef. extraord. item
 & cumulative effect of
 change in accounting for
 inc. taxes 2,102 1,350 3,944 2,354
 Extraord. loss relating
 to prepayment of debt, net
 of inc. tax benefit -- -- -- (2,139)
 Cumulative effect of
 change in accounting
 for inc. taxes -- -- -- 2,480
 Net income $ 2,102 $ 1,350 $ 3,944 $ 2,695
 Inc. per common share:
 Inc. before extraord.
 item and cumulative
 effect of change in
 accounting for inc.
 taxes $ 0.19 $ 0.14 $ 0.36 $ 0.24
 Extraord. loss on
 prepayment of debt -- -- -- (0.22)
 Cumulative effects of
 change in accounting
 for inc. taxes -- -- -- 0.26
 Net inc. $ 0.19 $ 0.14 $ 0.36 $ 0.28
 Wtd. avg. shares
 outstanding 11,001 9,847 11,005 9,630
 -0- 7/27/93
 /CONTACT: Michael R. Cote, chief finanical officer of Medaphis Corporation, 404-319-3349/
 (MEDA)


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

LG-SS -- NY012 -- 6103 07/27/93 09:33 EDT
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Date:Jul 27, 1993
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