Medical Connections Holdings Inc. (OTCBB: MCTH.OB) revenue fell 39.8 percent to $1.4 million its third quarter ended Sept. 30, according to its 10-Q quarterly report filed Monday with the U.S. Securities and Exchange Commission. Revenue was almost $2.3 million in the 2010 third quarter.

The Boca Raton, Fla.-based healthcare staffing firm reported direct-hire revenue fell 57.4 percent in the quarter.

However, Medical Connections’ third-quarter gross margin improved to 27.3 percent from 22.5 percent in the same period last year.

Medical Connections posted a net loss of almost $942,806 in the third quarter compared with a net loss of $1.2 million the year-ago quarter.

The 10-Q filing included a going concern note.

Medical Connections Holdings Inc. (OTCBB: MCTH.OB)
For the second quarter ended Sept. 30, 2011, compared with the same period in the previous year.
Revenue: $1.4 million, -39.8 percent
Net loss: $942,806 vs. net loss of $1.2 million