Medical Connections Holdings, Inc. Reports First Quarter 2010 Results

Medical Connections Holdings, Inc. (OTCBB:MCTH) announced today its operating results for the first quarter ended March 31, 2010. Revenue for the first quarter was $1,428,591, a decrease of $101,057, or 6.6%, when compared to the $1,529,648 in revenue for the same period one year ago. Operating expenses increased $307,461 to $3,278,235 during the period. The net losses for the three months ended March 31, 2010 and March 31, 2009 were $2,501,876 and $1,480,328, respectively.

The Company’s President, Anthony Nicolosi, said, “We have seen some positive trends in the first quarter of 2010 despite the continuing high unemployment rates. Revenue from contract appointments declined only 1.8% when comparing first quarter 2010 to first quarter 2009, and we are experiencing positive growth in contract revenue in the second quarter of 2010. All in all, we anticipate 2010 to continue its gradual improvement over last year’s results.”

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.

Learn more:

Facebook

Twitter

"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.

Medical Connections (CE) (USOTC:MCTH)
Historical Stock Chart
From Oct 2024 to Nov 2024