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To: rodney beasley who wrote (56822)	2/18/1999 10:34:00 PM
From: kendall harmon	Respond to of 119973

TRL news after the close. Short Ratio over 11, average volume 579,000, around 30 some times that today. Total Renal said it had responded to the SEC's requests on Feb. 16 and told analysts it expected to hear back from the regulatory agency within 2 or 3 weeks. In the conference call, Chief Financial Officer John King defended the company's amortization periods, saying they were perfectly suited to the industry. Wheat First Union analyst Joel Ray said the SEC inquiry was not unusual in that the agency may be taking a more active interest in accounting practices used by companies involved in acquisitions. Ray said growth at dialysis centers opened at least a year -- at 5 percent on a volume basis and 9 percent on a revenue basis in the quarter -- was lighter than expected, while operating expenses were higher, at $12.8 million. A portion of those expenses would reoccur going forward, King said. Despite the surprises, Total Renal aims to add 8,000 users in 1999 and believes it has the capital to achieve its goals. ''We have ample capital available to use today to sustain a strong course in the foreseeable future,'' Chaltiel said, commenting on the company's domestic and overseas expansion plans.