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PRIMARK REPORTS FIRST QUARTER RESULTS

 MCLEAN, Va., May 10 /PRNewswire/ -- Primark Corporation (NYSE: PMK; PSE) reported net income after preferred dividends of $3.1 million or 16 cents per share on revenues of $98.3 million compared to income of $2.3 million or 12 cents per share on revenues of $68.5 million for the first quarter of 1992.
 Earnings from continuing operations in the first quarter of 1993 and 1992 were 16 cents per share and 11 cents per share, respectively. The first quarter of 1992 reflected 3 cents per share of income from unrealized gains on marketable securities, while the first quarter of 1993 reflected 6 cents per share of income from unrealized gains relating to the foreign currency swap entered into at the time of the Datastream acquisition. Excluding these unrealized gains in 1993 and 1992, income from continuing operations was 10 cents per share and 8 cents per share, respectively.
 "Despite a weak world-wide economic climate and an increasingly competitive national security marketplace, our information services sector continues to experience growth in revenues. As a result, we remain optimistic about the prospects for the remainder of 1993 and are developing new products and services to accelerate growth in 1994," said Joseph E. Kasputys, Primark's chairman and chief executive officer.
 Primark Corporation, headquartered in McLean, is an international company principally engaged in information service businesses.
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
 Three Months Ended
 March 31,
 1993 1992
 (Thousands Except Per Share Amounts)
 Operating Revenues $ 98,312 $ 68,462
 Operating Expenses 89,822 64,760
 Operating Income 8,490 3,702
 Other Income (Deductions) - Net (2,380) 7?5
 Income Tax Expense (2,667) (1,833)
 Income From Continuing Operations 3,443 2,444
 Income From Discontinued Operations - Net 51 224
 Net Income 3,494 2,668
 Dividends on Preferred Stock (352) (329)
 Net Income Applicable to Common Stock 3,142 $ 2,339
 Earnings Per Common and Common Equivalent Share:
 Continuing operations $ 0.16 $ 0.11
 Discontinued operations -- 0.01
 Total $ 0.16 $ 0.12
 Weighted Average Common and Common
 Equivalent Shares Outstanding 19,933 19,400
 CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
 March 31, Dec. 31,
 1993 1992
 (Thousands of Dollars)
 Assets
 Cash and cash equivalents $ 21,599 $ 23,148
 Accounts receivable 88,954 92,558
 Net assets of discontinued operations 18,055 18,434
 Goodwill and other intangibles - net 296,676 301,151
 Other assets 90,951 87,518
 $516,235 $522,809
 Liabilities and Shareholders' Equity
 Current and noncurrent portions of
 long-term debt and capital
 lease obligations $192,034 $194,171
 Other liabilities 102,507 110,561
 Redeemable preferred stock 16,522 16,522
 Common shareholders' equity 205,172 201,555
 $516,235 $522,809
 CONDENSED SEGMENT DATA (UNAUDITED)
 Three Months Ended
 March 31,
 1993 1992
 (Thousands of Dollars)
 Operating Revenues
 Information services $ 96,203 $ 66,131
 Financial services 2,109 2,331
 Total Primark $ 98,312 $ 68,462
 Operating Income (Loss)
 Information services $ 7,975 $ 4,024
 Financial services 1,233 1,483
 Corporate (718) (1,805)
 Total Primark $ 8,490 $ 3,702
 -0- 5/10/93
 /CONTACT: Steven L. Schneider of Primark Corporation, 703-790-7630/
 (PMK)


CO: Primark Corporation ST: Virginia IN: CPR SU: ERN

TW-MH -- DC008 -- 6305 05/10/93 08:36 EDT
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Publication:PR Newswire
Date:May 10, 1993
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