U.S. Physical Therapy tumbles on projected Q3 miss

Published: Sept 24, 2002 9:40 a.m. ET




U.S. Physical Therapy USPH, +1.04% is dropping $2.61, or 17.7 percent, to $12.14, after the Houston provider of healthcare services forecast earnings of 15 to 16 cents a share for the third quarter, below Wall Street's consensus estimate for a profit of 18 cents a share. The company said that patient visits for the quarter will dip 2 percent from its second-quarter total. U.S. Physical Therapy cited seasonal weakness, and the slowdown in the economy for the shortfall.

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