111.   Despite the disappointing revenues and orders, Hewlett-Packard maintained good cash flow, he said, primarily due to better asset management and lower operating costs.

112.   Doctors and hospitals, suffering from under-reimbursement in the face of increasing operating costs, are forced to cut corners and reduce quality or face bankruptcy.

113.   Despite increasing his operating costs, he cut prices.

114.   Despite the operating cost of a separate clinic, the center saves money.

115.   Deutsche Bank is paying for the construction and the operating costs, but neither the bank nor the museum will disclose the amount.

116.   During the quarter, Federated also cut interest expenses and other operating costs.

117.   Electric utilities stand to lose the most from a competitive environment because their revenue always has been based on their operating costs, not on market forces.

118.   Elf will cut operating costs in oil production, refining and chemical making.

119.   Emphasizing reduced losses and hinting at a new pricing strategy, Apple Computer Inc. told investors it had already cut operating costs and was on the road to profitability.

120.   Even though that merger plan appears to be dead, industry observers said the health industry remains under pressure to reduce operating costs and improve efficiency.