OptimumCare Corporation Reports an Increase in Profitability in First Three Months of 2011, and a Profit of .01 Cent Per Share
June 14 2011 - 6:58PM
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 2011.
For the three months ended ending March 31, 2011, with all
figures unaudited, net revenues from continued and discontinued
operations were $903,667, compared with revenues of $976,558 for
the prior year's quarter.
Pretax profits for the first quarter ended March 31, 2011
amounted to $85,705, a 26 percent increase in profit compared with
pretax profit of $67,766 in the prior year's quarter.
The company attributed the increase in profits to cost cutting
measures and concentrating on higher margin clients.
Both the staffing division and Friendship Community Mental
Health Center operated profitably for the quarter.
Mr. Ed Johnson, CEO & Chairman of the board has noted that
Friendship Community Mental Health Center, 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.
CONTACT: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
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