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Third-quarter revenue fell 16.3% on a year-over-year basis at Medical Connections Holdings Inc. (OTCBB: MCTH.OB). The Boca Raton FL-based healthcare staffing firm reported third-quarter revenue of $1.6 million.
Gross margin narrowed to 30.4% in the third quarter from 31.1% in the year-ago quarter.
Medical Connections reported a third-quarter loss of $1.9 million compared with a third-quarter loss of $2.0 million in the third quarter of 2008. The company included a going concern note in its 10-Q because of operating losses and deficits, but management reported it believes the company will be able to fund expenses through stock sales and/or third-party financing until revenue from operations can cover expenses, according to the 10-Q.
Medical Connections Holdings Inc. (OTCBB: MCTH.OB)
For the third quarter ended Sept. 30, 2009, compared with the same period in 2008.
Revenue: $1.6 million, -16.3%
Net loss: $1.9 million vs. net loss of $2.0 million