<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 9,339 <SECURITIES> 0 <RECEIVABLES> 37,978 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 56,198 <PP&E> 13,247 <DEPRECIATION> 0 <TOTAL-ASSETS> 224,587 <CURRENT-LIABILITIES> 16,318 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 118 <OTHER-SE> 205,846 <TOTAL-LIABILITY-AND-EQUITY> 224,587 <SALES> 25,725 <TOTAL-REVENUES> 25,725 <CGS> 0 <TOTAL-COSTS> 21,601 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (83) <INCOME-PRETAX> 4,207 <INCOME-TAX> 1,679 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,528 <EPS-PRIMARY> 0.21 <EPS-DILUTED> 0