LAGUNA NIGUEL, Calif., June 15, 2010 (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 three months of 2010.
For the three months ended March 31, 2010, with all figures unaudited, net revenues from continued and discontinued operations were $976,558, compared with revenues of $938,511 in the first quarter of the prior year.
Pretax profits for the first quarter ended March 31, 2010 amounted to $67,766, compared with pretax profit of $-117,813 in the prior year's quarter.
Both the staffing division and Friendship Community Mental Health Center operated profitably for the quarter.
Mr. Johnson, CEO & Chairman of the board has 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.
Mr. Johnson has stated that considering the current OPMC stock price and current market conditions, OptimumCare Corporation will be purchasing up to 1,000,000 shares of OPMC stock depending on market conditions.
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.