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Medical Connections revenue falls 15%

August 17 2009
Staffing Industry Analysts North American Daily News

Medical Connections Holdings Inc. (OTCBB: MCTH.OB), a Boca Raton FL-based healthcare staffing firm, reported second-quarter revenue fell 14.7% to $1.6 million from $1.8 million in the same period last year.

Permanent placement revenue fell 54.8% year over year to $225,168, according to the company's 10-Q filing. Temporary staffing revenue, however, rose 0.3% to $1.3 million.

Medical Connections posted a second-quarter net loss of $1.7 million, similar to a $1.7 million net loss in the year-ago quarter. A going-concern note was included in its 10-Q filing with the U.S. Securities and Exchange Commission indicating the company has sustained operating losses and its revenue stream is not sufficient to fund expenses, but it has issued stock to fund operations.

Medical Connections Holdings Inc. (OTCBB: MCTH.OB)
For the second quarter ended June 30, 2009, compared with the same period in 2008.
Revenue: $1.6 million, -14.7%
Net loss. $1.7 million vs. net loss of $1.7 million


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