Medical Connections (MCTH) announces positive third quarter 2010 results

Posted on: November 15th, 2010
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Shares prices for Medical Connections Holdings, Inc. (OTCBB: MCTH) are currently hovering around 41 cents, up nearly 17 percent from 35 cents a week ago, on news that the Company would report favorable quarterly financial results. Today the company announced operating results for the third quarter of 2010, a 46 percent increase in revenue, combined with a 33 percent decrease in operating expense improve Medical Connection’s bottom line by 44 percent.

Anthony Nicolosi, President of Medical Connections, expressed his thoughts on the quarterly results, stating “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.”

Specifically, the Company recorded revenue increasing 46 percent to $2,264,713, up $711,814 from $1,552,899 the same quarter a year ago, while also decreasing operating expenses $736,287 to $1,495,232, or 33 percent, during the same period.

Nicolosi continued, “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, headquartered in Boca Raton, Florida, and specializes in identifying and placing talented individuals within the healthcare industry, such as: nurses, pharmacists, specialists, physicians, and hospital management executives.

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