LAGUNA NIGUEL, Calif., May 28, 2008 (PRIME NEWSWIRE) -- OptimumCare Corporation (Pink Sheets:OPMC), a behavioral healthcare and temporary staffing services provider, today reported that the company achieved pretax profitability in its 2008 first quarter.
For the three months ended March 31, 2008, with all figures unaudited, net revenues from continuing operations were $1,146,381, compared with revenues of $1,718,206 in the first quarter of the prior year. Total expenses amounted to $1,089,032.
Pretax profits for the first quarter ended March 31, 2008 amounted to $57,348, compared with pretax profit of $98,219 in the prior year's quarter.
Commenting on the quarter, Chairman & CEO Edward A. Johnson said the company's temporary healthcare worker staffing segment and the owned outpatient clinic both continued to operate profitably.
He also noted that Friendship Community Mental Health Center, a wholly owned subsidiary of OptimumCare, continues to explore the option of opening another location in the continually growing Phoenix behavioral healthcare marketplace.
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.