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The Dallas-based healthcare staffing firm reported third-quarter revenue fell 19.8% to $7.3 million from $9.1 million in the same period last year. Gross margin, however, rose to 21.4% from 20.5%.
Crdentia said in an SEC filing that revenue fell because of the closure of part of its California operations, turnover of key employees at some of its Texas locations, and the loss of some customers caused by litigation over its TravMed acquisition. Crdentia said in September that it settled the TravMed case. TravMed previously reverted to its original owners.
Crdentia Corp. (OTCBB: CRDT.OB)
For the third quarter ended Sept. 30, 2007, compared with the same period in 2006.
Revenue: $7.3 million, -19.8%
Net loss: $1.9 million vs. net loss of $2.5 million