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MEDAPHIS REPORTS SIGNIFICANT GAINS IN FIRST QUARTER REVENUE AND EARNINGS

 ATLANTA, April 27 /PRNewswire/ -- Medaphis Corporation (NASDAQ-NMS: MEDA) today announced results for the first quarter of 1993.
 For the three months ended March 31, 1993, net revenue was $37.3 million, up 82 percent from $20.5 million in the year-earlier period. Net income for the first quarter rose 37 percent to $1.8 million compared with $1.3 million a year ago. Net income per share increased 21 percent to $0.17 on 10,989,000 average shares outstanding, versus $0.14 on 8,392,000 average share outstanding for the first quarter of 1992. Before including the effects of one-time items which occurred in the first quarter of 1992, 1993 first quarter net income rose 83 percent to $1.8 million from $1.0 million last year and net income per share increased 54 percent to $0.17 from $0.11 last year. First quarter 1992 results included two one-time items that resulted in a net benefit of $341,000, or $0.03 per share. Net income per share for the first quarter of 1993 was also affected by a 17 percent increase in the average number of shares outstanding compared with the first quarter last year during which average shares outstanding did not include the effect of the company's May 1992 common stock offering.
 Randolph G. Brown, chief executive officer, said, "The acquisition of CompMed, Inc. on Dec. 31, 1992 combined with continued strong internal growth generated the significant increase in our revenue and earnings during the quarter."
 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 4,600 hospital-affiliated physicians and 300 hospitals across the United States.
 MEDAPHIS CORPORATION
 Financial Highlights
 Three months ended March 31 1993 1992
 Net revenue $37,312,000 $20,501,000
 Income before income taxes,
 extraordinary loss and
 cumulative effect of change in
 accounting for income taxes 3,020,000 1,438,000
 Income taxes 1,178,000 434,000
 Income before extraordinary loss
 and cumulative effect of change
 in accounting for income taxes 1,842,000 1,004,000
 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 1,842,000 1,345,000
 Income per common share:
 Before extraordinary loss
 and cumulative effect of
 accounting change $0.17 $0.11
 Extraordinary loss -- (0.23)
 Effect of accounting change -- 0.26
 Net income $0.17 $0.14
 Weighted average shares outstanding 10,989,000 9,392,000
 -0- 4/27/93
 /CONTACT: Timothy J. Kilgallon, chief financial officer of Medaphis Corporation, 404-319-3349/
 (MEDA)


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

LR-SM -- NY025 -- 1180 04/27/93 09:20 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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