Community Psychiatric Centers Posts $625,000 Profit for 1st Quarter

Community Psychiatric Centers, the Laguna Hills provider of psychiatric services, reported a first-quarter profit of $625,000, or 1 cent a share.

That compares with a net loss of $37.9 million, or 88 cents a share, for the corresponding period last year, which included a charge of nearly $55 million related to the restructuring of several of the company’s U.S. psychiatric facilities. Revenue for the quarter ended Feb. 28 rose 9%, to $92.5 million from $84.7 million.