Helter Skelter
14 years ago
OptimumCare Corporation Reports Profitability in First Three Months of 2010
Press Release Source: OptimumCare Corporation On Tuesday June 15, 2010, 5:23 pm EDT
LAGUNA NIGUEL, Calif., June 15, 2010 (GLOBE NEWSWIRE) -- OptimumCare Corporation (Pink Sheets:OPMC - News), 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.
Contact:
OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
http://finance.yahoo.com/news/OptimumCare-Corporation-pz-4182989222.html?x=0&.v=1
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation
OptimumCare Completes Acquisition of a Southern California Nurse Staffing Agency
Tuesday September 9, 9:00 am ET
LAGUNA NIGUEL, Calif., Sept. 9, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has completed the acquisition of the stock of a Southern California-based per diem nurse registry.
The staffing agency, which OptimumCare previously reported that it had entered into a preliminary agreement to purchase, primarily provides nurses on a temporary basis. It had revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the acquisition involve both cash and stock, as well as a promissory note with an earn out provision.
``We're very happy to have concluded these negotiations so rapidly, and to have added this fine agency to our growing California medical staffing services group,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``We increasingly are positioning the company as a key participant in the temporary healthcare staffing services sector.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment 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 healthcare staffing segment provides temporary skilled nurses, 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. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation
OptimumCare Signs Letter of Intent to Acquire a Southern California Nurse Staffing Agency
Thursday August 28, 9:00 am ET
LAGUNA NIGUEL, Calif., Aug. 28, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News) today announced that it has signed a letter of intent to acquire the stock of a Southern California-based per diem nurse registry.
The staffing agency, which primarily provides nurses on a temporary basis, posted revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the proposed acquisition were not disclosed.
``This transaction is subject to due diligence, including review by the company's auditors and approval by the company's board of directors,'' said OptimumCare's Chairman & CEO, Edward A. Johnson. ``As we have indicated in prior announcements, our goal is to complete one such acquisition on average in each quarter going forward, as we position ourselves increasingly in the temporary healthcare staffing services sector nationwide.''
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment 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 healthcare staffing segment provides temporary skilled nurses, 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. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
-0-
COMPANY: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
http://www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation
OptimumCare's President Discusses Recent Operating Results and Future Plans on Internet Web Radio Interview by IPOdesktop.com
Tuesday August 26, 9:00 am ET
LOS ANGELES, August 26, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed Chairman and CEO Edward A. Johnson about the company's recently completed second quarter results, as well as the future outlook for the rapidly growing company.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Johnson. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc4.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc4.wma.
During the interview, Johnson points outs that the company's revenues continue to benefit from the strong performance of its staffing services units. He said that overall staffing service operations in the most recent quarter accounted for 60% of overall revenues.
Johnson also reported that the company's behavioral healthcare programs continued to operate as planned, and that OptimumCare's contracts with Sherman Oaks Hospital have just been renewed. He said the company is pursuing a number of leads focused on adding new behavioral healthcare contracts.
He also said he anticipated that OptimumCare would make as many as two additional staffing service acquisitions by the end of the year, and that staffing service facilities would then represent 70-80% of total revenues. He also noted the addition of staffing service offices in San Francisco and Jacksonville, Florida as evidence of the overall strength in the staffing services marketplace.
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, and another in Orlando, Florida. All are committed to the deliver of highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://gaskinsco.com/opmc.ram or http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com.
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, health-care 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. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation
OptimumCare Corporation Reports Second Quarter Net Revenues Up 52% Compared With Prior Year; Growing Temporary Staffing Services Represent 60% of Six Month Revenues
Tuesday August 12, 3:47 pm ET
LAGUNA NIGUEL, Calif., Aug. 12, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTC BB:OPMC.OB - News), a behavioral healthcare and temporary staffing services provider, today announced that net revenues of $1,905,474 for the second quarter, ended June 30, 2003, were up 52%, compared with $1,255,595 in the same period last year, with temporary staffing services now representing 60% of revenues for the first six months of the year.
The company reported a net loss of $97,162 or $0.02 per diluted share. This compares with a reported net profit of $83,382 for the second quarter in 2002, which included a one time revenue item, and without that item the loss before income taxes for the 2002 second quarter would have been comparable to the current quarter.
For the six months ended June 30, 2003, net revenues were $3,326,953, with a loss of $0.03 per share, compared with revenues of $2,652,099, and a loss of $0.01 per share for the prior year six-month period.
``We are continuing to execute on our announced strategy of growing the revenues of OptimumCare through a combination of both internal growth and acquisitions in the temporary health care staffing field,'' said Edward A. Johnson, Chief Executive Officer. ``Our contract services business continues to perform well, and we have an aggressive marketing program in place to selectively increase the number of our psychiatric program contracts.''
Mr. Johnson added, ``Our temporary health care worker staffing segment is growing through acquisition and internal growth, and represented roughly 60% of revenues for the first six months of 2003. We are experiencing quarter over quarter growth in our acquired temporary staffing business, and we will continue to acquire strategic staffing offices and business units. We are investing significant time and resources in the acquisition search process.''
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. 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 which 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
(UNAUDITED)
Period Ending Six Months Six Months Three Months Three Months
June 30, June 30, June 30, June 30,
2003 2002 2003 2002
Total Revenues $3,326,953 $2,652,099 $1,905,474 $1,255,595
Income (loss)
before taxes ($ 258,980) ($ 58,869) ($ 158,955) $ 143,483
Income (loss)
after taxes ($ 168,844) ($ 42,769) ($ 97,162) $ 83,382
Diluted Earnings
(loss) per
share ($ .03) ($ .01) ($ .02) $ .01
Total Assets $2,633,258 $ 2,754,122 $2,633,258 2,754,122
Shares used for
diluted earnings
per share 5,908,675 5,976,213 5,908,675 6,043,751
Contact:
OptimumCare Corporation
Ed Johnson, Chairman and CEO
(800) 771-7202
www.optimumcare.com
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation; IPOdesktop.com
OptimumCare's President of Its Los Angeles-Based Associated Staffing Resources Division Interviewed on Internet Web Radio Program by IPOdesktop.com
Wednesday August 6, 9:00 am ET
LOS ANGELES, August 6, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's president of its Associated Staffing Resources division, Meryl Stern, about the company's growth in this rapidly expanding part of the company's business strategies.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Stern. Listeners may hear the interview by accessing it through Windows Media at http://mmslb.eonstreams.com/gaskins/opmc-8-1.wma .
During the interview, Stern notes that healthcare is a rapidly growing segment of the staffing services marketplace, and that she has 30 years' experience in it, a number of which had been spent working with OptimumCare behavioral healthcare programs in Southern California.
She also reports that in her first year of running the company's combined staffing facilities in the Los Angeles area, that their revenues remained even with the prior year, while many competitors saw declines in their revenue base. Staffing resources are offered to acute care hospitals, day treatment, home health, school and foster family programs, she said. Her decision to join OptimumCare, Stern said, was that it ``offered me so much that I didn't feel I could do on my own...they have a good strong balance sheet and good managers.''
The company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably. It has already made three staffing acquisitions, two in the Los Angeles area, with an additional office that has recently opened in Northern California serving the market from San Jose north to Sacramento, and another in Orlando, Florida, which has just opened an office in Jacksonville, Florida as well. All deliver highly qualified nurses and social workers when clients find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear it at http://mmslb.eonstreams.com/gaskins/opmc.wma .
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com .
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, health-care 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. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation; IPOdesktop.com
Boardswire
21 years ago
Press Release Source: OptimumCare Corporation
OptimimCare Growth Discussed on Internet Web Radio Program by IPOdesktop.com; Director of mergers and acquisitions says goal is to reach level of one acquisition per quarter
Wednesday July 16, 9:00 am ET
LOS ANGELES, July 16, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's director of mergers and acquisitions, Mort Lapides, about the firm's plans for growth in acquiring staffing agency services to respond to a marketplace in which Lapides says ``demand far outstrips supply.''
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Lapides. Listeners may hear the interview by accessing it through RealAudio at RealAudio: http://gaskinsco.com/opmc2.ram or on Windows Media: http://mmslb.eonstreams.com/gaskins/opmc2.wma.
During the interview, Lapides notes that healthcare is the strongest and fastest growing segment of the staffing services marketplace. Lapides, who earlier served as president and CEO of several companies, said his balance sheet experience uniquely enables him to weight the merits of targeted acquisitions for OptimumCare. Typically, Lapides indicates, the company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably.
Lapides notes that the total nursing population continues to decline, with fewer nursing school graduates and experienced nurses either leaving the field or retiring, just as the aging U.S. population needs their services more than ever. In that kind of environment, the M&A director notes, ``hospitals need to be flexible and nurses need to flexible as well.'' Through OptimumCare's staffing divisions, it is helping both to meet their needs.
So far, Lapides indicates, the company has made three staffing acquisitions, two in the Los Angeles area and another in Orlando, Florida, and has just opened an office in Jacksonville, Florida as well. All are focused on delivering highly qualified nurses and social workers when hospitals and other facilities find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at http://www.optimumcare.com .
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, health-care 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. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.
Contact:
OptimumCare Corp.
Ed Johnson
(888) 448-1848
--------------------------------------------------------------------------------
Source: OptimumCare Corporation
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