LAGUNA NIGUEL, Calif., May 4, 2007 (PRIME NEWSWIRE) -- OptimumCare Corporation (Pink Sheets:OPMC), a behavioral healthcare and temporary staffing services provider, today reported that the company had a profitable 2007 first quarter.
For the three months ended March 31, 2007, with all figures unaudited, net revenues from continuing operations were $1,718,206, compared with revenues of $1,813,632 in the first quarter of the prior year.
Pretax profits for the first quarter ended March 31, 2007 amounted to $98,219, a 25% increase compared with pretax profit of $78,696 for the prior year's quarter.
Commenting on the quarter, Chairman and CEO Edward A. Johnson said the company's temporary health care worker staffing segment and the owned out patient clinic are both operating profitably.
In post quarter developments, Johnson reported that a change in ownership of the Huntington Beach Hospital resulted in a discontinuance of the company's program there.
Johnson also reported that on May 1, the company's Associated Staffing Resources, a wholly owned subsidiary, expanded its operations by opening a staffing office in Sacramento.
He also noted that Friendship Community Mental Health Center, a wholly owned subsidiary of OptimumCare, is exploring the option of opening another location in the rapidly growing Phoenix market in the latter part of the year.
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The Behavioral Health Management Division provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The Temporary Health Care Staffing Division provides temporary, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations.