HZP-Horizon Pharmacies-NEW Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : HZP-Horizon Pharmacies-NEW

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Alan Cole who wrote (111)	3/4/1999 10:50:00 PM
From: tom terry	Read Replies (1) of 115

HZP Management Screw-up!!-- Mar 04, 1999 (7:02 PM ET) - The Motley Fool Evening News The challenge for small-town pharmacy company Horizon Pharmacies (AMEX:HZP - news) has always been pretty predictable: Could it keep up its busy acquisition pace, rapidly buying mom-and-pop pharmacies and tying them into its distribution network? That hasn't been much of a problem since the company's July 1997 IPO, with the chain more than doubling in size. The shares were rocked today on news of something else entirely. Horizon dropped $2 9/16, or 31%, to $5 11/16 after it said complications with its prescription pricing communications technology -- its system wasn't updating prices properly, meaning prescription prices rose daily and gross margins were penalized -- are likely to result in a loss in Q4, full-year 1998, and Q1 1999. Wall Street was calling for profits in all three reporting periods. Horizon said it has fixed the problems by changing to a new information system and is trying to recoup its losses (figured at between $1.0 and $2.5 million) and obtain rebates from its suppliers (?).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next