Question-and-Answer Session
Operator
Thank you sir. (Operator Instructions)
Our first question is from the line of Jonathan Aschoff with Brean Murray.
Jonathan Aschoff - Brean Murray
I am here[inaudible] John, can you hear me?
Terren Peizer
Yeah.
Jonathan Aschoff - Brean Murray
So I had a couple of questions one was, has there been any further analysis done by Urschel on the 30-day trial. And I was wondering given the flatness of the 4Q over 3Q, you had PROMETA publications a few months ago saying record bookings in Jan '08 and I think record revenues in December, but I was wondering if this 1Q '08 looks like it would be significantly higher than 4Q '07 given that disclosure a few months ago.
Terren Peizer
Okay. Well, first on the Urschel, obviously when we reported the topline result, we had reported the statistical significance versus [EBOW] and amongst the completer and cravings. Now, there were some talk that there was -- we showed it in completers and not an attempt to treat basis, but that again as we said at the time of the call was a standard in the industry and advice we got from our Scientific Advisory Board that would be those that comprise actually, the peer reviewers -- in a peer reviewed publication. Because that was a standard operating procedure. That said, I will point out that intent to treat basis was also calculated and also achieved the same statistical significance versus placebo in reducing or eliminating cravings.
The second part of your question, we reported that we had a record month in December, which still didn't create a flat quarter. There were many articles at the time discussing that expensive elective medical procedures were declining across the country, further the economy; we saw it in the residential treatment centers, the privately paid oriented residential treatment centers throughout the country.
And here in Los Angeles, we did have a tremendous boost in December, that was followed by a tremendous record month in January. And December, seasonally has been weak because of the holiday concentration, people deferring in treatment for after the New Year. It's fair to say that we did see a bump related to our 60-minute piece in December and January.
We have again set out budgeted revenue for the first quarter with the lower expenses that resulted from our plan of streamlining in early January. And obviously, there is still some time left in the first quarter. But again, we're on budget and we're achieving the revenues we set out. And we're managing, again, as we reallocate resources to disease management. We are managing the net burn to achieve the two years of cash that we'd like given our model, and that said we did it without reducing any expenses in the first quarter because we were achieving our revenue target.
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