OptimumCare announces second quarter results; record revenues and
earnings
LAGUNA NIGUEL, Calif.--(BUSINESS WIRE)--Aug. 6, 1996--OptimumCare Corp.
(OTC:OPMC) Tuesday announced its results for the second quarter and six months ended June 30, 1996.
For the quarter just ended, revenues reached a record high, increasing 83 percent to $2,765,795 vs. $1,508,258 in last year's comparable quarter.
Net income for the second quarter also reached a record high, increasing over 200 percent to $254,721 (unaudited), or 5 cents per share, up from $80,373, or 2 cents, for the same period last
year.
For the six-month period ending June 30, 1996, total revenue also reached a record high, increasing 66 percent to $4,986,240 as compared with $2,997,630 for the same period last year.
Net income for the six months increased to $264,255 (unaudited), or 5 cents per share, up from $213,771, or 4 cents, for the same period last year.
Edward A. Johnson, president and chief executive officer, stated, "Management anticipates that increased revenues and net income will continue through the end of this year."
The company earlier had announced the development of new outpatient mental health services that will become part of the OptimumCare integrated care system. The company believes that the acquisition of Professional Care Source Inc., contracts and personnel during the second quarter will serve as a platform for expanding into the long-term care industry by providing mental health
services for skilled nursing facilities.
OptimumCare provides management services through a growing network of hospitals, medical centers and outpatient facilities. (See also: businesswire.com)
Copyright 1996, Business Wire |
