Comprehensive Care Corporation Reports Profit for the Three and Six Months Ended November 30, 2004.TAMPA, Fla. -- Comprehensive Care Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CHCR CHCR Center for Health Care Rights ) (CompCare), a company specializing in managed behavioral healthcare and employee assistance services through its operating subsidiaries, today reported results for the second quarter of Fiscal 2005 ended November 30, 2004 and for the six months ended November 30, 2004. Net income for the quarter ended November 30, 2004 was $103,000, or $0.02 per diluted share, compared to the net loss of $233,000, or $0.06 loss per diluted share, for the same quarter of the prior fiscal year. For the six months ended November 30, 2004, net income was $194,000, or $0.04 per diluted share. This compares to a net loss $558,000, or $0.14 diluted loss per share, for the six months ended November 30, 2003, which included a $387,000 loss, or $0.10 diluted loss per share, from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . Operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. were $6.2 million and $12.3 million, respectively, for the three and six months ended November 30, 2004 compared to operating revenues of $7.0 million and $14.9 million, respectively, for the three and six months ended November 30, 2003. The decrease in operating revenues during Fiscal 2005 is primarily attributable to the previously announced loss of one major customer during the second half of Fiscal 2004 who made the decision to internally manage their behavioral health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or benefit. Robert J. Landis, Chairman and Chief Financial Officer of CompCare, said, "We are pleased to have reported two consecutive profitable quarters and results that demonstrate a significant improvement in net income as compared to the first six months of the prior fiscal year." Mary Jane Johnson Jane Johnson may refer to:
Please [ improve this article] or discuss the issue on the talk page. that distinguish us from our competitors." About Comprehensive Care Corporation Established in 1969, CompCare provides behavioral health, substance abuse, and employee assistance programs for governmental agencies, managed care companies and employer groups throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Headquartered in Tampa, Florida “Tampa” redirects here. For other uses, see Tampa (disambiguation). Tampa is a United States city in Hillsborough County, on the west coast of Florida. It serves as the county seat for Hillsborough County.GR6. , CompCare operates regional service centers in Connecticut, Florida, Michigan, and Texas; serves approximately 1,000,000 covered individuals nationwide; and has a network of approximately 10,000 qualified behavioral health practitioners. With 35 years of experience in the industry, CompCare focuses on personalized attention, flexibility, a commitment to high-quality services, and innovative approaches to behavioral health that address both the specific needs of clients and changing healthcare industry demands. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain information included herein and in other Company reports, SEC filings, statements, and presentations is forward looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning the Company's anticipated operating results, financial resources, increases in revenues, increased profitability, interest expense, growth and expansion, and the ability to obtain new behavioral healthcare contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other Company reports, SEC filings, statements, and presentations. These risks and uncertainties include local, regional, and national economic and political conditions, our ability to obtain additional financing, the effect of governmental regulation, the competitive environment in which the Company operates, and the other risks detailed from time to time in the Company's SEC reports. |
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