Tokos Projects Loss; Stock Falls
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SANTA ANA — Tokos Medical Corp.’s stock fell 37.5 cents a share to close at $5.625 in NASDAQ trading Monday after the company said it will report a “modest” loss for the first quarter.
Tokos linked the expected loss--it earlier said it would report a slight profit--to lower than anticipated revenue.
“Patient referrals slowed in March from the level at which they had appeared to stabilize in January and February,” said Robert F. Byrnes, Tokos’ chairman and chief executive. “The company also experienced lower net pricing for its pre-term labor management services than had been anticipated.”
Tokos supplies specialized home health care services for women with problem pregnancies.
For the first quarter of 1992, the company reported a $3.9-million profit on revenue of $34.9 million.
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