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Biotech / Medical : PHP Healthcare -- Ignore unavailable to you. Want to Upgrade?

To: james bravick who wrote (67)	7/27/1998 7:35:00 PM
From: Jim Mac	Read Replies (1) \| Respond to of 136

According to Zacks, earnings were due today, Monday 7/27. But I've also heard that PHP said by Wednesday, which is 90 days from end of April quarter, a deadline, I believe. I'll bet PHP is waiting until they're done scooping the rest of the common (at minimal expense now), and wrapping up the preferred buyback, before releasing numbers, since they'll be VERY GOOD numbers. Kluge and PHP have pulled at least 3M shares out of the float, and over 4M overall off the market, by my calculations. There are 3M - 4M shares still shorted, and none available for shorting anymore. With the preferred issue essentially settled, no future dilution, blowout earnings and solid cash flow about to be reported, and newly acquired HIP centers ramping up efficiencies rapidly, PHP probably knows PPH will likely take off after numbers. They don't mess around. They squeeze every nickel.

To: james bravick who wrote (67)	7/27/1998 8:02:00 PM
From: Jim Mac	Read Replies (1) \| Respond to of 136

If anyone tries to short PPH on the way up, they may drive it higher, since the supply of shortable shares is zippo, and brokers will have to go into the market for shares. PHP has bought back BIG MAJORITY of preferred, if not ALL by now, so the preferred situation is essentially settled. No dilution, since the small number of remaining preferred will convert at increasingly higher prices over the next 5 months as PPH rises on earnings and cash flow. I'm looking forward to the potential Salomon Smith Barney upgrade from "neutral" to "buy" after earnings, and the effect that will have.