<PAGE>
 
                                   FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

(MARK ONE)
   [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES
        EXCHANGE ACT OF 1934.
                 For the quarterly period ended  June 30, 1997.
                                       OR
   [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
        EXCHANGE ACT OF 1934

For the transition period from _____ to _____

                         Commission file number 0-27750
                                                -------
                                  IMPATH INC.
             (exact name of registrant as specified in its charter)

<TABLE>
<S>                                 <C>                                <C> 
          DELAWARE                            8071                      13-3459685
(State or other jurisdiction of    (Primary Standard Industrial     (I.R.S. Employer
incorporation or organization)     Classification Code Number)      Identification No.)
</TABLE> 

                          1010 THIRD AVENUE, SUITE 302
                            NEW YORK, NEW YORK 10021
                                 (212) 702-8300
              (Address, including zip code, and telephone number,
       including area code, of registrant's principal executive offices)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.


Yes X No (due to initial public offering,  ----------------------------------
                                                                     
effective 2/15/96) ------------------

       Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.


CLASS                             OUTSTANDING AT JUNE 30, 1997
-----                             ----------------------------
Common Stock, par value                    5,398,152
$  .005 per share

                                       1

<PAGE>
 
                                     INDEX

                                  IMPATH INC.

                                                                     PAGE NUMBER
                                                                     -----------
PART I                              FINANCIAL INFORMATION


Item 1  Consolidated Financial Statements (Unaudited):
 
        Consolidated Balance Sheets at June 30, 1997
        and December 31, 1996........................................  3
 
        Consolidated Statements of Operations for the Three and Six
        Months Ended June 30, 1997 and June 30, 1996.................  4
 
        Consolidated Statement of Stockholders' Equity for the Six
        Months Ended June 30, 1997...................................  5
 
        Consolidated Statements of Cash Flows for the Six
        Months Ended June 30, 1997 and June 30, 1996.................  6
 

        Notes to Consolidated Financial Statements...................  7


Item 2  Management's Discussion and Analysis of
        Financial Condition and Results of Operations................  8-10

PART II   OTHER INFORMATION
Item 6    Exhibits and Reports on Form 8-K...........................  11-15


                                       2

<PAGE>
 
                                  IMPATH INC.

                          Consolidated Balance Sheets


<TABLE>
<CAPTION>
                                                                 JUNE 30,      DEC. 31,
                                                                   1997          1996
                           ASSETS                               (UNAUDITED)
                                                                -----------  ------------
<S>                                                             <C>          <C>
Current assets:
 Cash and cash equivalents                                      $ 3,081,137   $   941,903
 Marketable trading securities                                   17,085,472    23,395,398
 Accounts receivable, net of allowance for doubtful accounts      9,879,203     7,059,812
 Prepaid expenses and other current assets                          843,496       524,599
 Deferred tax assets, net                                         1,359,285     1,359,285
 Investment (50%) in IMPATH Registry                                 75,000             -
                                                                -----------   -----------
 Total current assets                                            32,323,593    33,280,997
 
Fixed assets, less accumulated depreciation and amortization      4,066,470     3,391,965
Deposits and other assets                                           236,206        98,878
Goodwill, net of accumulated amortization                         2,161,087       809,542
                                                                -----------   -----------
 Total Assets                                                   $38,787,356   $37,581,382
                                                                ===========   ===========
   LIABILITIES AND STOCKHOLDERS' EQUITY
 
Current liabilities:
 Current portion of capital lease obligations                   $   877,529   $   704,399
 Accounts payable and accrued expenses                              679,846     1,116,781
 Income taxes payable                                               268,682       692,193
                                                                -----------   -----------
 Total current liabilities                                        1,826,057     2,513,373
                                                                -----------   -----------
Capital lease obligations, net of current portion                 1,581,927     1,430,104
                                                                                         
Stockholders' equity:                                                                    
 Common stock, $.005 par value                                       27,026        26,611
 Additional paid-in capital                                      32,593,235    32,357,260
 Retained Earnings                                                2,930,078     1,498,878
                                                                -----------   -----------
                                                                 35,550,339    33,882,749
                                                                                         
Less:                                                                                    
 Cost of 7,088 shares of common stock held in treasury                 (100)         (100)
 Notes receivable from officers                                     (18,336)      (28,421)
 Deferred compensation                                             (152,531)     (216,323)
                                                                -----------   -----------
 Total stockholders' equity                                      35,379,372    33,637,905
                                                                -----------   -----------
 Total Liabilities and Stockholders' Equity                     $38,787,356   $37,581,382
                                                                ===========   =========== 
</TABLE>

See accompanying notes to consolidated financial statements.

                                       3

<PAGE>
 
                                  IMPATH INC.

                     Consolidated Statements of Operations
                                  (Unaudited)
<TABLE>
<CAPTION>
 
 
                                                THREE MONTHS ENDED JUNE 30,               SIX MONTHS ENDED JUNE 30, 
                                               --------------------------               -----------------------------
                                                  1997          1996                         1997          1996     
                                               -----------  -------------               --------------  -------------
<S>                                            <C>          <C>                         <C>             <C>         
Revenues:                                                                                                           
 Net diagnostic and prognostic services        $9,249,227     $5,021,886                  $17,074,177     $9,716,236
 Contract laboratory services                      35,912         58,011                       55,948        105,686
                                               ----------     ----------                  -----------     ----------
  Total revenues                                9,285,139      5,079,897                   17,130,125      9,821,922
                                               ----------     ----------                  -----------     ----------
Operating expenses,                                                                                                 
 Salaries and related costs                     3,836,405      2,257,961                    7,074,602      4,513,525
 Selling, general and administrative            4,106,433      2,242,402                    7,882,419      4,500,990
                                               ----------     ----------                  -----------     ----------
  Total operating expenses                      7,942,838      4,500,363                   14,957,021      9,014,515
                                               ----------     ----------                  -----------     ----------
   Income from operations                       1,342,301        579,534                    2,173,104        807,407
                                                                                                                    
Interest income                                   222,151        334,069                      284,796        454,807
Interest expense                                  (63,492)       (45,042)                    (144,912)       (90,747)
Gain on trading marketable securities              40,187              -                      242,725              -
                                               ----------     ----------                  -----------     ----------
                                                                                                                    
Income before income tax expense                1,541,147        868,561                    2,555,713      1,171,467
                                                                                                                    
Income tax expense                               (673,424)      (369,137)                  (1,124,513)      (503,877)
                                               ----------     ----------                  -----------     ----------
 Net income                                       867,723        499,424                    1,431,200        667,590
Accrued dividends on preferred stock                    -              -                            -        (82,346)
                                               ----------     ----------                  -----------     ----------
Net income available to common stockholders    $  867,723     $  499,424                  $ 1,431,200     $  585,244
                                               ==========     ==========                  ===========     ==========
Net income per share                                $0.15          $0.09                        $0.25          $0.13
                                               ==========     ==========                  ===========     ==========
Weighted average common and common                                                                                  
 equivalent shares outstanding                  5,829,000      5,760,000                    5,811,000      5,118,000
                                               ==========     ==========                  ===========     ========== 
 
</TABLE>



See accompanying notes to consolidated financial statements.

                                       4
<PAGE>
 
                                  IMPATH INC.

                 Consolidated Statement of Stockholders' Equity
                         Six Months ended June 30, 1997
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                                                            NOTES
                                  COMMON STOCK       ADDITIONAL                           RECEIVABLE
                             ----------------------    PAID-IN     ACCUMULATED  TREASURY     FROM          DEFERRED
                               SHARES      AMOUNT      CAPITAL      EARNINGS     STOCK    STOCKHOLDER    COMPENSATION       TOTAL
                             -----------  ---------  -----------  ------------  -------  ------------   --------------  ------------
<S>                          <C>          <C>        <C>          <C>           <C>      <C>            <C>              <C>
Balance at December 31,        
 1996                          5,322,286    $26,611  $32,357,260    $1,498,878   $(100)      $(28,421)      $(216,323)   $33,637,905

Common shares issued upon
 exercise of stock options        76,686        384      198,167                                                             198,551

Common shares issued upon
 exercise of warrant               6,268         31       21,905                                                              21,936

Compensation associated
 with stock issuance                                      15,903                                                              15,903

Repayment of loans to
 stockholders                                                                                  10,085                         10,085

Amortization of deferred
 compensation                                                                                                  63,792         63,792

Net income for the period
 ended June 30, 1997                                                 1,431,200                                             1,431,200
                               ---------    -------  -----------    ----------   -----       --------       ---------    -----------
Balance at June 30, 1997       5,405,240    $27,026  $32,593,235    $2,930,078   $(100)      $(18,336)      $(152,531)   $35,379,372
                               =========    =======  ===========    ==========   =====       ========       =========    ===========
</TABLE>


See accompanying notes to consolidated financial statements.

                                       5
<PAGE>
 
                                  IMPATH INC.

                     Consolidated Statements of Cash Flows
                                  (UNAUDITED)


<TABLE>
<CAPTION>
                                                              SIX MONTHS ENDED JUNE 30,
                                                              ------------------------
                                                                 1997         1996 
                                                              -----------  -----------
<S>                                                          <C>           <C> 
Cash flows from operating activities:
  Net income                                                 $ 1,431,200   $    667,590
  Adjustments to reconcile net income
    to net cash provided by operating activities-
   Depreciation and amortization                                 758,093        369,607
   Provision for uncollectible accounts receivable             2,244,369      1,132,625
   Amortization of deferred compensation                          63,792         53,160
      Changes in assets and liabilities:
      (Increase) in accounts receivable                       (4,588,759)    (3,024,939)
      (Increase) in prepaid expenses and current assets         (318,897)      (319,934)
      Decrease (increase) in marketable securities             6,309,926    (14,194,148)
      (Increase) decrease in deposits and other assets          (137,328)        21,276
      (Decrease) in accounts payable and accrued expenses     (1,356,395)      (413,008)
      (Decrease) in income taxes payable                        (423,511)       (78,415)
                                                             -----------   ------------
     Total adjustments                                         2,551,290    (16,453,776)
                                                             -----------   ------------
Net cash provided (used) by operating activities               3,982,490    (15,786,186)
                                                             -----------   ------------
Cash flow from investing activities:
  Investment in IMPATH Registry                                  (75,000)             -
  Purchase of Oncogenetics Inc.                                 (750,000)             -
  Purchase of Immunodiagnostic Inc. customer list               (425,000)             -
  Capital expenditures                                          (440,675)      (210,904)
                                                             -----------   ------------
Net cash used in investing activities                         (1,690,675)      (210,904)
                                                             -----------   ------------
Cash flows from financing activities:
 Issuance of common stock                                        236,390     26,031,712
 Payment of dividends on preferred stock                               -       (560,346)
 Repayment of bank loan                                                -       (283,333)
 Payments of capital lease obligations                          (399,056)      (226,629)
 Payments received on officer loans                               10,085          2,914
 Deferred Registration Costs                                           -        474,179
                                                             -----------   ------------
Net cash (used) provided by financing activities                (152,581)    25,438,497
                                                             -----------   ------------
Net increase in cash and cash equivalents                      2,139,234      9,441,407
Cash and cash equivalents at beginning of period                 941,903      1,512,695
                                                             -----------   ------------
Cash and cash equivalents at end of period                   $ 3,081,137   $ 10,954,102
                                                             ===========   ============
</TABLE>


See accompanying notes to consolidated financial statements.

                                       6
<PAGE>
 
                                  IMPATH INC.

                   Notes to Consolidated Financial Statements
                                  (unaudited)

GENERAL:

The accompanying unaudited consolidated financial statements have been prepared
by management in accordance with the rules and regulations of the United States
Securities and Exchange Commission.

In the opinion of IMPATH Inc. (the "Company" or "IMPATH"), the accompanying
unaudited consolidated financial statements contain all adjustments, consisting
only of normal recurring adjustments necessary for the fair presentation of the
financial information for all periods presented. Results for the interim periods
are not necessarily indicative of the results for an entire year and do not
include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. These financial
statements should be read in conjunction with the financial statements and the
notes thereto contained in the Company's Annual Report on Form 10-K for the year
ended December 31, 1996.

NET INCOME PER SHARE:

Net income per share is based on the weighted average number of shares of common
stock outstanding after giving effect to the conversion (calculated using the
as-converted method) of the convertible preferred stock that converted upon the
completion of the Company's initial public offering in February 1996.  Common
equivalent shares from stock options and warrants are included in the
computation using the treasury stock method to the extent their effect is
dilutive.  All stock options and warrants issued within a one year period prior
to the initial public offering have been treated as outstanding before the
completion of the offering.

INVESTMENT:

The Company invested approximately $20,000,000 of the net proceeds from its
initial public offering in a portfolio of short term fixed income securities
that are managed by a Wall Street investment firm. In accordance with Statement
of Financial Accounting Standards No. 115, the Company's investments are being
recorded at fair value with gains and losses reported in the Statement of
Operations. At June 30, 1997, approximately $1,300,000 of securities with
original maturities of three months or less were included as cash equivalents.
The remaining securities included in the investment portfolio with original
maturities that exceed three months are included in current assets.

                                       7
<PAGE>
 
                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

                        THREE MONTHS ENDED JUNE 30, 1997
                 COMPARED WITH THREE MONTHS ENDED JUNE 30, 1996

The Company's total revenues for the three months ended June 30, 1997 and 1996
were $9,285,000 and $5,080,000, respectively, representing an increase of
$4,205,000, or 82.8%, in 1997.  This growth was primarily attributable to a
56.1% increase in case volume resulting from increased sales and marketing
activities, as well as the successful integration of our two recent acquisitions
- certain assets of Arizona based Oncogenetics and Florida based
Immunodiagnostic Laboratories.  In addition, revenue realization per case
increased due to product mix changes toward cases which carry higher
reimbursement rates, as well as a shift in the payor mix from institutional 
billing to third party.

Salaries and related costs for the first three months ended June 30, 1997 and
1996 were $3,836,000 and $2,258,000, respectively, representing an increase of
$1,578,000, or 69.9%, in 1997.  This increase was the result of increased
personnel required due to the increase in case volume, as well as personnel
costs incurred in connection  with the Company's expansion.  Salaries and
related costs, as a percentage of total revenues decreased to 41.3% in 1997 from
44.5% in 1996.

Selling, general and administrative expenses for the three months ended June 30,
1997 and 1996 were $4,106,000 and $2,242,000, respectively, representing an
increase of $1,864,000, or 83.1%, in 1997. This increase was due to an increase
in bad debt expense of approximately $595,000 as a result of higher revenues and
a shift to more revenues requiring copayments. Third-party revenues have
historically had a higher bad debt rate than institutional revenues. In
addition, there was an increase in operating expenses of approximately $416,000
incurred by the Company's new Arizona based cancer testing facility which was
acquired in January, 1997. The Company incurred over $407,000 in higher supply
and courier costs due to increased volume and the logistics required to service
the Company's expanding oncology office based business. Finally, depreciation
and amortization costs increased $225,000 primarily due to the Company's two
recent acquisitions and the development of an outcomes database. The Company
also incurred higher travel related expenses and professional fees associated
with expanded sales, marketing and investor relations activities. Due to the
costs associated with the Company's newly acquired testing facility, selling,
general and administrative expenses as a percentage of total revenues increased
to 44.2% in 1997 from 44.1% in 1996.

Income from operations for the three months ended June 30, 1997 and 1996 was
$1,342,000 and $580,000, respectively, representing an increase of $762,000, or
131.5%, in 1997. The 1997 figure reflects increased Company operating margins
from its core diagnostic and prognostic services as well as the effect on
earnings of the net operating income generated from the Arizona cancer testing
facility which was acquired in January, 1997. As a percentage of total revenues,
income from operations increased to 14.5% in 1997 from 11.4% in 1996.

Other income, net for the three months ended June 30, 1997 and 1996 was $199,000
and $289,000, respectively, representing a decrease of $90,000 in 1997.  This
decrease was due to a decrease of approximately $3,500,000 in the amount
invested in fixed income securities. The proceeds from the sale of securities
are being used to fund the Company's expansion and database development
activities.

The tax provision for the three months ended June 30, 1997 of approximately
$673,000 reflects federal, state and local income tax expense.  The Company has
estimated its annual effective tax rate for 1997 to be approximately 44% which
is in line with the current provision.

As a result, net income for the three months ended June 30, 1997 and 1996 was
$868,000 and $499,000, respectively, representing an increase of $369,000 or
74.0% in 1997.  The increase in net income is due to the effect described above.

                                       8
<PAGE>
 
                         SIX MONTHS ENDED JUNE 30, 1997
                  COMPARED WITH SIX MONTHS ENDED JUNE 30, 1996


The Company's total revenues for the six months ended June 30, 1997 and 1996
were $17,130,000 and $9,822,000, respectively, representing an increase of
$7,308,000 or 74.4%, in 1996.  This growth was primarily due to a 52.2% increase
in case volume resulting from increased sales and marketing activities, as well
as the successful integration of our two recent acquisitions-certain assets of
Arizona based Oncogenetics and Florida based Immunodiagnostic Laboratories.  In
addition, revenue realization per case increased as a result of product mix
changes toward cases with higher reimbursement rates.

Salaries and related costs for the six months ended June 30, 1997 and 1996 were
$7,075,000 and $4,514,000, respectively, representing an increase of $2,561,000
or 56.7%, in 1997.  This increase was due to case volume growth and personnel
costs associated with the Company's recent acquisitions which commenced in
January 1997.  Salaries and related costs, as a percentage of total revenues
decreased to 41.3% in 1997 from 46.0% in 1996.

Selling, general and administrative expenses for the six months ended June 30,
1997 and 1996 were $7,882,000 and $4,501,000, respectively, representing an
increase of $3,381,000 or 75.1% in 1997.  This increase was due to an increase
in bad debt expense of approximately $1,112,000 associated with higher revenues,
as well as a shift to more revenues requiring copayments.  The Company also
incurred $640,000 in additional operating expenses associated with the Company's
new Arizona based cancer testing facility which was acquired in January, 1997.
In addition, the Company incurred over $675,000 in higher supply and courier
costs due to increased volume and the logistics required to service the
Company's rapidly growing oncology office based business.  Finally, depreciation
and amortization costs increased approximately $400,000 primarily due to the
Company's two recent acquisitions and the development of an outcomes database.
The Company also incurred higher travel related expenses and professional fees
associated with expanded sales, marketing and investor relations activities.  As
a result of these factors, selling, general and administrative expenses as a
percentage of total revenues increased to 46.0% in 1997 from 45.9% in 1996. 

Income from operations for the six months ended June 30, 1997 and 1996 was 
$2,173,000 and $807,000, respectively, representing an increase of $1,366,000 or
169.3% in 1997. The 1997 figure reflects increased Company operating margins
from its core diagnostic and prognostic services as well as the effect on
earnings of the net operating income generated from the Arizona cancer testing
facility which was acquired in January, 1997. As a percentage of total revenues,
income from operations increased to 12.7% in 1997 from 8.2% in 1996.

Interest income, net for the six months ended June 30, 1997 and 1996 was
$383,000 and $364,000, respectively, representing an increase of $19,000 in
1997.  The increase was the result of increased interest income generated from
the proceeds of the Company's initial public offering of common stock in
February 1996, partially offset by increased interest expense due to additional
capital lease obligations.

The tax provision for the six months ended June 30, 1997 of approximately
$1,125,000 reflects federal, state and local income tax expense.  The Company
has estimated its annual effective tax rate for 1997 to be approximately 44%
which is in line with the current provision.

As a result, net income for the six months ended June 30, 1997 and 1996 was
$1,431,000 and $668,000, respectively, representing an increase of $763,000 or
114.2%, in 1997.  As a percentage of total revenues, net income increased to
8.4% in 1997 from 6.8% in 1996.

                                       9

<PAGE>
 
LIQUIDITY AND CAPITAL RESOURCES

Since inception, the Company has financed its operations through its February
1996 initial public offering, the private issuance of convertible preferred
stock, secured term loans and operating and capital equipment leases. The
Company's working capital and capital expenditure needs have increased and are
expected to continue to increase as the Company expands its existing facilities
and pursues its growth strategy.

The Company's cash and cash equivalent balances at June 30, 1997 and December
31, 1996 were $3,081,000 and $942,000, respectively, representing an increase of
$2,139,000 in 1997.  The Company also has approximately $17,000,000 at June 30,
1997 invested in a portfolio of fixed income securities managed by a Wall Street
investment firm.

For the six months ended June 30, 1997, the Company provided net cash from
operating activities of approximately $3,982,000. This increase was primarily
the result of higher net income as well as the sale of marketable trading
securities of $6,310,000. This increase was partially mitigated by an increase
in accounts receivable net of allowance for bad debt of $2,344,000 due to rapid
sales growth. In addition, the Company reduced its accounts payable and accrued
expenses by $1,356,000.

During the first six months of 1997, the Company used approximately $1,250,000 
of cash to fund its growth strategy through the acquisition of certain assets of
Oncogenetics and Immunodiagnostic Laboratories, as well as a joint venture with
Medical Registry Services, Inc. In addition, the Company had capital 
expenditures of $441,000 during the period. The Company received approximately 
$236,000 during the first six months of 1997 through the exercise of incentive 
stock options and used approximately $399,000 for the principal payments on 
capital lease obligations.

In August 1996, the Company renewed its line of credit at an aggregate amount of
$2,500,000 with the Chase Manhattan Bank.  Borrowing under the line will bear
interest at the Chase Manhattan Bank's prime rate.  The availability of the line
of credit is subject to the execution of such additional documentation as the
Chase Manhattan Bank may request.  As of June 30, 1997 the Company had not drawn
on the line of credit.

The Company's growth strategy is anticipated to be financed through the net
proceeds from the initial public offering, its current cash resources and
existing third-party credit facilities.  The Company believes the combination of
these sources will be sufficient to fund its operations and satisfy the
Company's cash requirements for the next 12 months and the foreseeable future.
There may be circumstances, however, that would accelerate the Company's use of
proceeds from the initial public offering.  If this occurs, the Company may,
from time to time, incur additional indebtedness or issue, in public or private
transactions, equity or debt securities.  However, there can be no assurance
that suitable debt or equity financing will be available to the Company.

IMPACT OF INFLATION AND CHANGING PRICES

The impact of inflation and changing prices on the Company has been primarily
limited to salary, laboratory and operating supplies and rent increases and has
not been material to date to the Company's operations.  In the future, the
Company may not be able to raise the prices for its cases by an amount
sufficient to cover the cost of inflation, although the Company is responding to
these concerns by attempting to increase the volume and adjust the product mix
of its business.

                                       10

<PAGE>
 
ITEM 6  EXHIBITS AND REPORTS ON FORM 8-K
 

        (a)     The exhibits required to be filed as part of this Quarterly
                Report on Form 10-Q are listed in the attached Index to
                Exhibits.

        (b)     No reports on Form 8-K were filed during the quarter for which
                this Quarterly Report on Form 10-Q is filed.

                                       11
<PAGE>
 
                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



     Dated: July 30, 1997           IMPATH INC.
                                    -----------
                                    (Registrant)


     Dated: July 30, 1997           By   /s/  ANU D. SAAD
                                    ----------------------------  
                                    Anu D. Saad, Ph.D.
                                    President and Chief
                                    Executive Officer


     Dated: July 30, 1997           By   /s/ JOHN P. GANDOLFO
                                    ----------------------------
                                    John P. Gandolfo
                                    Executive Vice President,
                                    Chief Financial Officer
                                    and Principal Accounting
                                    Officer

                                       12



<PAGE>
 
                               INDEX TO EXHIBITS
                               -----------------

<TABLE>
<CAPTION>
 
 
 Exhibit                                                    Page
 Number                     Description                    Number
---------  ----------------------------------------------  ------
<S>        <C>                                             <C>
 
  11       Statement re Computation of Per Share Earnings
           for the Three Months and Six Months ended
           June 30, 1997 and June 30, 1996 (Unaudited)         14
 
  27       Financial Data Schedule                             15
 
</TABLE>


                                      13