OptimumCare Corporation Reports on Fourth Quarter and Full Year 2009 Financial Results
11 Fevereiro 2010 - 10:26AM
OptimumCare Corporation (Pink Sheets:OPMC), a behavioral healthcare
and temporary staffing services provider, today announced fourth
quarter and full year financial results for 2009.
For the three months ended December 31, 2009, with all figures
unaudited, net revenues from continued and discontinued operations
were $1,039,078, compared with revenues of $1,138,696 in the fourth
quarter of the prior year.
Pretax profits for the fourth quarter ended December 31, 2009
amounted to $70,394, compared with a pretax loss of $180,151 in the
year earlier quarter.
For the year ending December 31, 2009, with all figures
unaudited, net revenues from continued and discontinued operations
amounted to $3,885,952, compared with revenues of $4,820,127 for
the prior year.
A pretax loss for the year ending December 31, 2009 amounted to
$85,682, compared with a pretax loss of $80,874 in 2008.
"We're hopeful that certain improvements in the healthcare
marketplace for our services, as well as continued attention to
improving operating margins, will enable us to build upon the
earnings momentum of the 2009 fourth quarter," said OptimumCare
President & CEO Edward A. Johnson. He again 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.
"Bolstering that plan is the previously announced increase in
the number of unemployed, which is creating more demand for our
services in our Phoenix outpatient facility, as more people become
eligible for Medicare and other government programs," Johnson
reported.
Mr. Johnson also noted that given the company's current stock
price, and current market conditions, OptimumCare's Board of
Directors is still actively interested in repurchasing up to
1,000,000 shares of company stock in open market transactions when
such opportunities present themselves in coming quarters.
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.
CONTACT: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
OptimumCare (CE) (USOTC:OPMC)
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