Article: Haltom City, Texas-Based Drug-Testing Firm Posts Loss, Hopes Move Will Pay Off.

By Trebor Banstetter, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News

Aug. 16--HALTOM CITY, Texas--Executives at drug-testing company PharmChem hoped to save a bundle of money when they moved to Texas from Menlo Park, Calif., this year.

The company has almost completed its relocation, and executives hope that the savings will begin to accumulate after they move into their new headquarters building within a few weeks.

But in the short term, the relocation was more costly than anticipated. On Wednesday, the company reported a loss of $5.6 million for the second quarter, after taking a $4.5 million hit in moving costs.

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