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View All NewsMedical Connections' revenue, net loss rise
August 12, 2010
Medical Connections Holdings Inc, reported second-quarter revenue rose 22.8% to $1.9 million from $1.6 million in the second quarter of last year, according to a filing with the U.S. Securities and Exchange Commission. However, the Boca Raton FL-based healthcare staffing firm posted a net loss of $2.0 million compared to a net loss of $1.7 million in the year-ago quarter.
Second-quarter gross margin improved to 25.9% from 25.4% in the second quarter or last year.
The company recently appointed Jeffrey Rosenfeld as CEO with former CEO Joseph Azzata resigning effective July 16. The company also struck a deal on March 12 to acquire Trustaff Management Inc., a Cincinnati -based healthcare staffing firm for approximately $26 million, but that deal has not yet closed.
Medical Connections Holdings Inc. (OTCBB: MCTH.OB)
For the first quarter ended June 30, 2010, compared with the same period in 2009.
Revenue: $1.9 million, +22.8%
Net loss: $2.0 million vs. net loss of $1.7 million