Medical Connections Holdings, Inc. Third Quarter 2010 Results
15 November 2010 - 2:30PM
Business Wire
Medical Connections Holdings, Inc. (OTCBB: MCTH)
announced today its operating results for the third quarter ended
September 30, 2010. Revenue for the third quarter was $2,264,713 an
increase of $711,814, or 46%, when compared to the $1,552,899 in
revenue for the same period one year ago. Operating expenses
decreased $736,287 to $1,495,232, or 33%, during the period. The
loss from operations for the three months ended September 30, 2010
showed a 44% improvement, dropping to $986,271 for the period,
compared to $1,758,965 for the third quarter of 2009.
The Company’s President, Anthony Nicolosi, said, “We are pleased
to see that our efforts have resulted in a record-breaking quarter
for Medical Connections. Our focus on quality revenue growth and
expense containment are certainly delivering positive results. In
addition, we are continuing our efforts towards acquiring a
healthcare staffing company that best fits our operating strategy.
We would like to express our appreciation to our shareholders for
their support of management changes that have clearly resulted in
considerable improvements for our Company.”
Medical Connections, Inc. is a national provider of
medical recruitment and staffing services. Established in 2002 to
satisfy the increasing need for highly qualified healthcare
professionals, the Company’s business is to identify, select and
place the industry’s most talented healthcare specialists, nurses,
pharmacists, physicians and hospital management executives. The
Company provides recruiting and staffing services for permanent and
contract positions, leaving options for both clients and candidates
to decide the optimal formula for working together.
With headquarters in Boca Raton, Florida, Medical Connections is
ideally positioned to increase its presence in the U.S. healthcare
market. Medical Connections Holdings, Inc. is a fully reporting
company trading on the OTC B/B under the ticker: MCTH.
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"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements (within
the meaning of Section 27a of the Securities Act of 1933 and
Section 21e of the Securities Exchange Act of 1934) regarding us
and our business, financial condition, results of operations and
prospects. Forward-looking statements in this press release reflect
the good faith judgment of our management and the statements are
based on facts and factors as we currently know them.
Forward-looking statements are subject to risks and uncertainties
and actual results and outcomes may differ materially from the
results and outcomes discussed in the forward-looking statements
for a variety of reasons, including our ability to successfully
acquire a healthcare staffing company, adverse economic conditions,
entry of new and stronger competitors, inadequate capital to
support our operations, projections of revenues and profitability
and other risks described in our 10-K for our fiscal year ended
December 31, 2009 filed with the SEC on March 30, 2010 and other
risks discussed in other SEC filings. Readers are urged not to
place undue reliance on these forward-looking statements which
speak only as of the date of this press release. We undertake no
obligation to revise or update any forward-looking statements in
order to reflect any event or circumstance that may arise after the
date of the press release.
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