RIDGELAND, Miss., Aug. 1, 2005 (PRIMEZONE) -- Knobias, Inc. (OTCBB:KNBS) announced today that it has selected PHC Inc. (OTCBB:PIHC) as the SPOT of the week in the Knobias Small-Cap "ClipReport."
PHC, Inc. (dba Pioneer Behavioral Health) is a national health care company specializing in behavioral health services including the treatment of substance abuse and related disorders and the provision of psychiatric services. PIHC also conducts pharmaceutical research studies; operates help lines for employee assistance programs; call centers for state and local programs; and provides management, administrative, and online behavioral health services.
The Bulls say
-- Revenue and Earnings Growth: PIHC has demonstrated superb
growth from 2004 losses due to a strategic acquisition and
operation expansions. In May, PIHC reported record revenues
and net income. For the trailing 12 months (TTM), revenues
increased 22 percent to $32.4 million vs $26.7 million in
2004. TTM net income skyrocketed to $2.6 million (or 15c/shr)
vs. a $(257,003) loss in 2004. On Q3 conference call, PIHC
projected Y/Y revenue growth of 25-30 percent and positive
earnings comparisons in Q4.
The Bears say
-- Slow Collections: Most recently, PIHC's accounts receivables
equate to 71 days of sales, a slight improvement Y/Y. The
company's accounts receivable balance has been reduced by 32
percent by allowance for bad debts. The company has
historically recorded 30 plus percent allowance for doubtful
accounts and does not project any improvement in this area.
Collection issues have also caused PIHC to increase staff and
expenses to institute a more aggressive collection policy.
The "ClipReport" is a daily newsletter distributed free to anyone interested in proprietary news and insight concerning small-, micro-, and nano-cap stocks. Each week Knobias independently chooses one company to be highlighted in the SPOT. To qualify for selection, each company must: 1) trade on the Nasdaq National Market, Nasdaq Smallcap Market, Amex, OTCBB, or Pink Sheets; 2) have a Market cap of less than $250 million; 3) have annual revenues greater than $1 million, 4) have a closing share price greater than 5 cents, and 4) have average daily volume of at least 10,000 shares. Knobias is never compensated for SPOT selections, and no position will be held in SPOT stocks by Knobias, its management, or staff while the stock is being highlighted.
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To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Knobias assumes no obligation to update any of the forward-looking statements in this release.