LAGUNA NIGUEL, Calif., Sept. 30, 2008 (GLOBE NEWSWIRE) -- OptimumCare Corporation (Pink Sheets:OPMC), a behavioral healthcare and temporary staffing services provider, today reported that the company achieved profitability in the first six months of 2008.
For the six months ended June 30, 2008, with all figures unaudited, net revenues from continuing and discontinued operations were $2,545,666. Total expenses amounted to $2,379,390. Net income for the six months ended June 30, 2008, amounted to $167,661.
"The six month results ended June 30, 2008, benefited in the second quarter from substantially increased revenues from the company's temporary health care worker staffing segment," said Chairman & CEO Edward A. Johnson. He said the company's owned outpatient clinic also continues to operate profitably.
The CEO also reported that due to continuing growth in the Phoenix behavioral healthcare marketplace, Friendship Community Mental Health Center, a wholly owned subsidiary of OptimumCare, is continuing to study the option of opening another location in the greater Phoenix area. Johnson indicated a decision on this potential expansion may be reached before the end of the calendar 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.