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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)
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To: Arthur Radley who started this subject9/10/2001 9:29:13 AM
From: D.Austin  Read Replies (1) of 3414
 
Medicare Respiratory Billing Adjustments Expected to Result in a Charge
WOBURN, Mass.--(BUSINESS WIRE)--Sept. 10, 2001-- PolyMedica Corporation (NNM:PLMD) today reaffirmed its previous net revenue guidance of $275 million for fiscal 2002 and $68 - $69 million for the second quarter ending September 30, 2001. PolyMedica's core business remains strong with increased demand for diabetes and respiratory supplies from a growing base of loyal customers

just be happy

Because PolyMedica expects to incur unusual legal and related expenses in the current fiscal quarter and because of the overpayment notices described below, PolyMedica is not able to provide earnings guidance. The legal and related expenses of approximately $0.10-$0.14 per share diluted in the second quarter are attributable to previously reported investigations of its subsidiaries Liberty Medical Supply and Liberty Home Pharmacy.

Call your broker

Since September 1999, PolyMedica has been reimbursed by all four DMERCs based on its present pricing formula and previously had received no overpayment notices disputing that formula.

Because of the above overpayment notices, the Company expects to expense between $800,000 and $1.0 million as a period cost in the current quarter, subject to possible recovery in a later period if such amount is ultimately determined to have been correctly billed by the Company.

Look how that statement cleared up the situation

If one or more of the other three DMERCs express a similar position, the Company will expense up to an additional $5.0-$5.5 million in the appropriate period(s

Now trading @ 12.80
order confussion----trade-12.05-bid 12.30 ask 12.60
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