Crediting a "back-to-basics" cost-cutting program, Safeguard Health Enterprises Inc., an Anaheim provider of prepaid dental plans, said that second quarter profits jumped to $740,000, a 30% increase over the $570,000 posted a year ago.
Revenues for the period were $17.4 million, up 11% from the $15.7 million recorded last year.
For the first six months, profits were $1.3 million, up 39% from the $936,000 posted a year ago. Sales of $33.9 million were up 11% from the $30.4 million of the year before.
W. Bruce Steever, Safeguard's chief financial officer, said the quarter's performance validated the company's decision at the end of 1986 to close unprofitable dental offices and concentrate on its primary business of operating a prepaid dental plan.
Steever said the company has closed or sold nine of its 40 dental offices in California since January and expects to dispose of more offices within coming months.