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PROVIDENT AMERICAN CORPORATION ANNOUNCES RESULTS

 NORRISTOWN, Pa., March 16 /PRNewswire/ -- Provident American Corporation (NASDAQ: PAMC), an insurance holding company, announced today that for the 12 months ended Dec. 31, 1992, it had a gain from operations of $61,000 or $.01 per share, on $77,132,000 of gross revenue.
 This compares with a loss from operations of $745,000 or $.11 per share, on $69,235,000 of gross revenue for the 12 months ended Dec. 31, 1991.
 For the three months ended Dec. 31, 1992, Provident had a gain from operations of $278,000 or $.04 per share, on $18,790,000 of gross revenue compared with a loss of $877,000 or $.13 per share, on $19,185,000 of gross revenue for the three months ended Dec. 31, 1991.
 Operating results, excluding realized investment gains, continued to show improvement in the fourth quarter despite extraordinary expenses related to guaranty fund assessments and start-up costs for the Seniors Coalition pre-need marketing campaign. The improvement in results is attributable to reduced operating expenses and mitigating medical loss ratios.
 PROVIDENT AMERICAN CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (000s Omitted)
 Periods ended Three months Year
 Dec. 31 1992 1991 1992 1991
 Accident and health
 premiums, gross $14,647 $15,403 $59,519 $51,964
 Life insurance premiums 2,540 2,653 12,540 14,468
 Other revenue 1,603 1,129 5,073 2,803
 Total gross revenue 18,790 19,185 77,132 69,235
 Less accident & health
 reinsurance 7,648 8,655 32,207 29,896
 Total net revenue 11,142 10,530 44,925 39,339
 Expenses 10,842 11,365 44,711 39,974
 Income (loss) before income
 taxes 300 (835) 214 (635)
 Income tax expense 22 42 153 110
 Net income (loss) $278 $(877) 61 $(745)
 Earnings (loss) per share $.04 $(.13) $.01 $(.11)
 /delval/
 -0- 3/16/93
 /CONTACT: Anthony R. Verdi, CFO of Provident American, 215-279-2500/
 (PAMC)


CO: Provident American Corporation ST: Pennsylvania IN: INS SU: ERN

CC-MJ -- PH007 -- 6446 03/16/93 10:07 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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