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Royal

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Royal

Re: Royal post# 195

Monday, 05/21/2012 1:44:59 AM

Monday, May 21, 2012 1:44:59 AM

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PSMH Total operating expenses as a percentage of revenues were 140% and 135% for the three month and nine month periods ended March 31, 2012 as compared to 214% and 128% for the comparable prior year periods.

ROYAL EXCHANGE BOARD

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