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Strategies & Market Trends : CAVALRY'S SHORT BUSTERS - MAGIC EIGHTBALLS PICKS -- Ignore unavailable to you. Want to Upgrade?

To: zx who wrote (395)	9/15/1998 9:39:00 AM
From: zx	Respond to of 1637

sold my PPH for a small profit. Company Press Release SOURCE: PHP Healthcare Corporation PHP Releases First Quarter Results RESTON, Va., Sept. 15 /PRNewswire/ -- PHP Healthcare Corporation (NYSE: PPH - news) today announced results for its first quarter ended July 31, 1998. Revenues for the first quarter are $131.5 million, up 136% from $55.7 million in the first quarter a year ago. The Company recorded a net loss before preferred stock dividends of $18.2 million, or $1.57 per share on a diluted basis. This compares with net earnings of $1.1 million, or $0.08 per share on a diluted basis, for the first quarter ended July 31, 1997. The number of diluted common shares outstanding for the first quarter were 11,636,000, compared to 13,773,000 a year earlier. PHP President and CEO Jack Mazur stated, ''We have recently taken steps to rationalize the cost of our health delivery system in New Jersey. In addition to major reductions in the fixed infrastructure cost in New Jersey, we have significantly downsized the corporate office staff in Reston to better match the focus of our business in New Jersey and the District of Columbia. We are confident the steps we have taken and others we have planned for the second quarter will position the Company in the future to operate profitably in each of its markets.'' A medical management company, PHP Healthcare Corporation manages medical risk through the acceptance of global capitation arrangements with HMO's and other healthcare payors. The Company also offers a full range of management services to the physician groups and hospitals that participate in provider- based networks developed by PHP. Because healthcare is a local service, PHP's managed healthcare delivery systems are tailored to the needs of individual communities and patient populations. PHP has more than 7,500 physicians employed or under contract and responsibility for approximately 300,000 covered lives. Except for historical information, the statements preceding are forward- looking statements that involve risks and uncertainties. Investors are cautioned that such statements are only predictions and the actual events or results may differ materially. These forward-looking statements speak only as of this date. The Company undertakes no obligation to publicly release the results of any revisions to the forward-looking statements made today to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. SOURCE: PHP Healthcare Corporation