UNITED STATES
                       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 15, 2007


                                    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

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

     [  ] Written communications pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

     [  ] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act
          (17 CFR 240.14a-12)

     [  ] Pre-commencement  communications pursuant to Rule 14d-2(b) under the
          Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement  communications pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4c))

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Item 2.02 Results of Operations and Financial Condition

The registrant is providing the following information pursuant to Item 2.02. The
information  being provided  consists of the attached press release  relating to
the  registrants  results of operations and financial  condition for the quarter
ended March 31, 2007.  The text of the press release is included as Exhibit 99.1
to this report.

The information furnished pursuant to this Current Report on Form 8-K (including
the  exhibits  hereto)  shall not be  considered  "filed"  under the  Securities
Exchange Act of 1934, as amended, nor shall it be incorporated by reference into
any of the registrant's filings under the Securities Act of 1933, as amended, or
under the  Securities  Exchange Act of 1934, as amended,  unless the  Registrant
expressly  states in such  filing  that  such  information  is to be  considered
"filed" or incorporated by reference therein.

Item 9.01  Financial Statements and Exhibits.

     (d)    The following exhibit is being furnished herewith:

Exhibit No. Exhibit Description

     99.1   Press release text of PHC, Inc. dated May 15, 2007.

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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:  May 15, 2007                          By:  /s/ Bruce A. Shear
                                                  _________________________
                                                  Bruce A. Shear
                                                  President


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