Mar 31 2010
Medical Connections Holdings, Inc. (OTCBB:MCTH) has announced its results for the year ended December 31, 2009. Revenue in 2009 was $6,131,611, a decrease of $935,379, or 13.2%, when compared with revenue of $7,066,990 in 2008. Revenue from contract appointments decreased $193,578 to $5,103,422 in 2009, or 3.6%, from $5,297,000 in 2008. Revenue from permanent placement decreased 41.9% to $1,028,189 in 2009 compared with revenue of $1,769,990 in 2008. Net losses for the years ended December 31, 2009 and December 31, 2008 were $7,711,887 and $7,542,210, respectively.
The Company's President, Anthony Nicolosi, said, "Due to the state of the overall economy, 2009 proved to be a very challenging year. Regardless, we managed to reduce our operating expenses by over one million dollars during the year. In addition, we recently announced that we had entered into a definitive agreement to acquire a very successful healthcare staffing company that will serve as our operating platform in the future. This business combination will present opportunities that will benefit our teams internally as well as our candidates and clients nationwide. Going forward, we will continue to aggressively market our company to foster growth and will continue to pursue additional acquisition opportunities."
SOURCE Medical Connections Holdings, Inc.