$out_file = "out1";
open (OUT, "$out_file");
  while (<OUT>) {
    next unless $_;
    if (/Time: (..):(..):(..)/) {
       $hours = $1;
       $mins  = $2;
       $secs  = $3;
     }
  }
close (OUT);
print "hours =: $hours";

##</code><code>##

while (<DATA>) {
  if ($_ && /Time:\s+(\d+):(\d+):(\d+)/i) {
    $hours = $1;
    $mins  = $2;
    $secs  = $3;
    last;
  }
}
print "hours =: $hours";

__DATA__
Time: 04:45:12