<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 2,928,000 <SECURITIES> 0 <RECEIVABLES> 12,958,00 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 20,130,000 <PP&E> 18,729,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 104,692,000 <CURRENT-LIABILITIES> 30,938,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 70,145,000 <OTHER-SE> 56,836,000 <TOTAL-LIABILITY-AND-EQUITY> 104,692,000 <SALES> 0 <TOTAL-REVENUES> 20,732,000 <CGS> 0 <TOTAL-COSTS> 16,687,000 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 849,000 <INCOME-PRETAX> 3,083,000 <INCOME-TAX> 2,575,000 <INCOME-CONTINUING> 508,000 <DISCONTINUED> 0 <EXTRAORDINARY> (127,000) <CHANGES> 0 <NET-INCOME> 381,000 <EPS-PRIMARY> .02 <EPS-DILUTED> 0