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Medical Connections Holdings Inc. (OTCBB: MCTH.OB), a Boca Raton FL-based healthcare staffing firm, reported a 57.7% increase in third-quarter revenue to $1.9 million. However, the company said its net loss rose to $2.0 million in the third quarter from $1.8 million in the same period last year.
Third-quarter gross margin fell to 33.9% from 36.2%. In addition, the company reported a 47.6% increase in general and administrative expenses to almost $2.4 million.
Revenue and general and administrative expenses rose as the company added recruiting staff, according to Medical Connections' 10-Q filing.
Medical Connections Holdings Inc. (OTCBB: MCTH.OB)
For the third quarter ended Sept. 30, 2008, compared with the same period in 2007.
Revenue: $1.9 million, +57.7%
Net loss: $2.0 million vs. net loss of $1.8 million