May 15 2010
Medical Connections Holdings, Inc. (OTCBB:MCTH) announced today its operating results for the first quarter ended March 31, 2010. Revenue for the first quarter was $1,428,591, a decrease of $101,057, or 6.6%, when compared to the $1,529,648 in revenue for the same period one year ago. Operating expenses increased $307,461 to $3,278,235 during the period. The net losses for the three months ended March 31, 2010 and March 31, 2009 were $2,501,876 and $1,480,328, respectively.
The Company's President, Anthony Nicolosi, said, "We have seen some positive trends in the first quarter of 2010 despite the continuing high unemployment rates. Revenue from contract appointments declined only 1.8% when comparing first quarter 2010 to first quarter 2009, and we are experiencing positive growth in contract revenue in the second quarter of 2010. All in all, we anticipate 2010 to continue its gradual improvement over last year's results."
Source: Medical Connections Holdings, Inc.