Конечно, вот пример функции:
function toRealDate($str) {
$year = substr($str, 0, 4);
$month = substr($str, 4, 2);
$day = substr($str, 6, 2);
$months = array("January", "February", "March", "April", "May", "June", "July", "August", "September", "October", "November", "December");
return $months[(int)$month - 1] . ' ' . (int)$day . ', ' . $year;
}