Medical Connections Holdings, Inc. 2010 Revenue Growth Exceeds Industry Analysts Estimates
13 Januar 2011 - 2:15PM
Business Wire
Medical Connections Holdings, Inc. (OTCBB: MCTH), a national
provider of medical recruitment and staffing services, reported
today on its revenue gains in 2010 compared to staffing industry
analysts estimates.
The Company had previously reported that its annual revenue has
increased 27% compared to 2009 and 47% when comparing fourth
quarter 2010 to fourth quarter 2009. This compares favorably to the
2010 year-end estimate by Staffing Industry Analysts of a 4%
decline in allied-based revenue and an 8% decline for the
healthcare staffing industry, as a whole. The improvement reflected
volume gains in contract travel staffing in the allied segment, the
Company’s primary business line.
Anthony Nicolosi, Company President, stated, “Despite the
negative effects on our industry in 2009 and 2010 caused by the
severe economic downturn, 2011 and beyond are expected to deliver
positive revenue growth for the healthcare staffing industry. More
importantly, Medical Connections was able to deliver a robust 27%
growth in revenue in 2010 that far exceeded the estimates of
staffing industry analysts for the same period. We attribute our
growth to our focus on business fundamentals and commitment to
success. We believe the worst economics are behind us and are
positive in our outlook for 2011.”
Medical Connections, Inc. is a national provider of
medical recruitment and staffing services. 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 report
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. Actual results could differ materially from those
projected in the forward-looking statements, as a result of either
the matters set forth or incorporated in this report generally or
certain economic and business factors, some of which may be beyond
the control of Medical Connections. These factors include 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. 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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