SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 28, 1998
YOUTH SERVICES INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Maryland 000-23284 52-1715690
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
2 Park Center Court, Suite 200
Owings Mills, Maryland 21117
(Address of principal executive offices) (Zip Code)
(410) 356-8600
(Registrant's telephone number)
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Item 5. Other Events.
On May 28, 1998, Youth Services International, Inc. (the "Company")
announced that it expects to report earnings for the quarter ending June 30,
1998 that are substantially less than expectations.
Second quarter results will be weakened by a number of factors
including: continued occupancy problems at two Midwest projects, the timing of
the opening of two denovo projects, the timing of the expansion of one existing
project and additional development and marketing costs. In addition, due in part
to these factors, the Company expects the contribution margin in the second
quarter to be less than expectations. While the Company expects improved results
in the third and fourth quarters of 1998, it is anticipated that the remaining
quarters and full year 1998 revenues and earnings will fall substantially below
expectations.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: June 16, 1998 YOUTH SERVICES INTERNATIONAL, INC.
By: /s/ Mark S. Demilio
Mark S. Demilio
Senior Vice President of Corporate
Development and General Counsel
