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): September 22, 2003


                                    PHC, Inc.
             (Exact Name of Registrant as Specified in its Charter)

                                  Massachusetts
                    (State of Incorporation or Organization)

        0-22916                                          04-2601571
(Commission File Number)                              (I.R.S. Employer
                                                      Identification No.)


200 Lake Street, Suite 102, Peabody, Massachusetts            01960
 (Address of Principal Executive Offices)                  (Zip Code)


Registrant's telephone number, including area code:  (978) 536-2777

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Item 9.  Regulation FD Disclosure

     The registrant is providing the following  information  pursuant to Items 9
and 12. The  information  being  provided  consists of the attached news release
relating to the  registrants  results of operations and financial  condition for
the year ended June 30, 2003.







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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 hereunto duly authorized.


                                                PHC, INC.


Date: September 22, 2003                        By:  /s/ Bruce A. Shear
                                                         Bruce A. Shear
                                                         President






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