LAGUNA NIGUEL, Calif., May 13, 2004 (PRIMEZONE) -- OptimumCare Corporation (OTCBB:OPMC), a behavioral healthcare and temporary healthcare staffing services provider, announced that it today filed a Form 15 with the Securities and Exchange Commission (SEC) for the purpose of terminating its duty to file reports under the Securities Exchange Act of 1934, as amended.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare Corporation today provides a wide range of inpatient and outpatient behavioral health services through a network of affiliated hospitals and medical centers, and through its own community mental health center. In addition, the Company has a growing presence in the temporary health care staffing business.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payout amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs that may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
SELECTED FINANCIAL RESULTS
(AUDITED)
Years Ended December 31,
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2003 2002 2001
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TOTAL REVENUES 6,396,175 5,392,792 6,979,143
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LOSS FROM CONTINUING
OPERATIONS BEFORE INCOME
TAX BENEFIT
(901,014) (684,682) (931,791)
NET LOSS FROM CONTINUING
OPERATIONS (549,281) (432,274) (572,398)
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LOSS FROM DISCONTINUED
OPERATIONS (133,666) -- --
LOSS ON IMPAIRMENT/SHUTDOWN (432,308) -- --
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LOSS FROM DISCONTINUED
OPERATIONS BEFORE INCOME
TAX BENEFIT (565,974) -- --
NET LOSS FROM DISCONTINUED
OPERATIONS (343,974) -- --
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NET LOSS $ (893,255) $ (432,274) $ (572,398)
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BASIC LOSS PER SHARE
CONTINUING OPERATIONS
$ (0.09) $ (0.07) $ (0.10)
BASIC LOSS PER SHARE FROM
DISCONTINUED OPERATIONS
(0.06) -- --
---------- ---------- ----------
BASIC LOSS PER SHARE $ (0.15) $ (0.07) $ (0.10)
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DILUTED LOSS PER SHARE
CONTINUING OPERATIONS
$ (0.09) $ (0.07) $ (0.10)
DILUTED LOSS PER SHARE FROM
DISCONTINUED OPERATIONS
(0.06) -- --
---------- ---------- ----------
DILUTED LOSS PER SHARE $ (0.15) $ (0.07) $ (0.10)
========== ========== ==========
NET LOSS $ (893,255) $ (432,274) $ (572,398)
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