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Biotech / Medical : PHP Healthcare
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To: CMon who wrote (107)10/29/1998 5:47:00 PM
From: Jim Mac  Read Replies (2) of 136
 
I'm still waiting to see October quarter's numbers (mid-December, unfortunately) to decide if PHP is getting its act together.

Since they got their hands on over $15M from the sale of their interests in CHE, VCH, and partial settlement of the D.C. receivable, their future cash position should be much improved. Now, if they can lower quarterly direct costs by $10M (FWIW they projected $3M quarterly savings from staff reductions from planned closing of 2 centers in their June 8-K/A, so hopefully they'll achieve $6M now that they've closed 4 centers), and get quarterly G/A down to $15M instead of last Q's $20M, I'll be satisfied with their progress.

I wasn't hyping anything. Shame on you.
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