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PRIMARK REPORTS THIRD QUARTER RESULTS

 PRIMARK REPORTS THIRD QUARTER RESULTS
 MCLEAN, Va., Nov. 6 /PRNewswire/ -- Primark Corporation


(NYSE: PMK) reports net income for the third quarter of 1991 of $61,000, a significant improvement of $5.9 million over the net loss of $5.9 million reported for the same period in 1990. Net income for the nine-month period ended Sept. 30, 1991 of $518,000 represents an improvement of $6.6 million over the corresponding 1990 period. Operating results for both 1991 periods exclude stock dividends valued at $188,000 on the preferred stock which was issued by the Company in connection with the acquisition of The Analytic Sciences Corporation (TASC). Net income (or loss), after preferred dividends, applicable to common stock was ($127,000) or ($0.01) per share and $330,000 or $0.02 per share for the 1991 three and nine-month periods, respectively.
 The inclusion of TASC's operating results from Aug. 8, 1991 had a favorable impact on the company's improved 1991 earnings. The significant improvement in earnings also was due to the exclusion of losses incurred in the 1990 periods relative to the company's discontinued operations and to unrealized losses on marketable equity securities previously held by the company, and to gains on the sale of these securities in 1991. Increased expenses associated with the company's start-up businesses, increased interest costs on short-term and long term bank borrowings and lower investment income partially offset the overall improved results.
 "We are pleased with the smooth integration of TASC into Primark's operations", said Joseph E. Kasputys, Primark's chairman, president and chief executive officer. "There have been no material changes in TASC's business operations and the company has continued its 25-year tradition of outstanding service to clients. The TASC information technology professionals have begun to identify steps to apply their leading edge capabilities to Wellmark, our electronic medical claims processing subsidiary, plus new commercial applications in weather, environmental, energy and real estate markets. We are also pleased to announce that Wellmark's contract with the state of New York for the Single Payor Demonstration Project was finalized and signed last month. With the acquisition of TASC and the many opportunities for growth in the information services industry, Primark is well positioned forarily engaged in information technology, financial, and transportation services.
 PRIMARK CORPORATION
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
 (Thousands Except Per Share Amounts)
 Period ended Three Months Nine Months
 Sept. 30 1991 1990 1991 1990
 Operating Revenues $ 50,664 $ 7,081 $77,690 $20,155
 Operating Expenses 50,789 8,425 82,137 22,484
 Operating Loss (125) (1,344) (4,447) (2,329)
 Other Income
 (deductions) - net 76 (2,663) 4,474 755
 Income (Loss) from Continuing
 Operations Before
 Income Taxes (49) (4,007) 27 (1,574)
 Income Tax Benefit 110 1,787 491 1,615
 Loss from Discontinued
 Operations-Net -- (3,652) -- (6,103)
 Net Income (Loss) 61 (5,872) 518 (6,062)
 Dividends on Preferred
 Stock (188) -- (188) --
 Net Income (Loss) Applicable to
 Common Stock $(127) $(5,872) $330 $(6,062)
 Earnings (Loss) Per Common and
 Common Equivalent Share $(0.01) $(0.31) $ 0.02 $(0.31)
 Weighted Average Common and Common
 Equivalent Shares
 Outstanding 18,767(A) 19,063 19,496 19,518
 (A) Excludes 1,362,000 common equivalent shares.
 CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
 (Unaudited) (Thousands of Dollars)
 9/30/91 12/31/90
 Assets:
 Cash and cash equivalents $ 55,611 $ 91,977
 Marketable equity securities -- 16,178
 Income tax receivable - net 4,615 18,422
 Goodwill and other intangibles - net 110,244 1,912
 Other current and noncurrent assets 155,650 90,723
 Total $326,120 $219,212
 Liabilities and Shareholders' Equity:
 Current liabilities $ 50,549 $ 13,619
 Long-term debt and other liabilities 53,160 12,627
 Redeemable preferred stock 15,002 --
 Common shareholders' equity 207,409 192,966
 Total $326,120 $219,212
 CONDENSED SEGMENT DATA (UNAUDITED)
 (Thousands of Dollars)
 Period ended Three Months Nine Months
 Sept. 30 1991 1990 1991 1990
 Operating Revenues
 Information technology
 services $ 38,581 $ 492 $39,621 $ 783
 Financial services 4,414 3,833 12,532 12,468
 Transportation services 7,669 2,756 25,537 6,904
 Total Primark $ 50,664 $ 7,081 $77,690 $20,155
 Operating Income (Loss)
 Information technology
 services $ 1,317 $(1,055) $(1,025) $(2,509)
 Financial services 1,960 2,021 5,259 6,628
 Transportation services (2,283) (994) (4,987) (2,096)
 Corporate (1,119) (1,316) (3,694) (4,352)
 Total Primark $ (125) $(1,344) $(4,447) $(2,329)
 -0- 11/6/91
 /CONTACT: Catherine L. Savage of Primark, 703-790-7608/
 (PMK) CO: Primark Corporation ST: Virginia IN: SU: ERN MK -- DC008 -- 1614 11/06/91 10:49 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 6, 1991
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