Medical Connections Holdings, Inc. (OTC Bulletin Board: MCTH) announced its results for the three and nine months ended September 30, 2009. Revenue for the third quarter was $1,552,899, a decrease of $302,772, or 16.3%, when compared to the $1,855,671 in revenue for the same three-month period one year ago. Operating expenses declined $555,151 to $3,311,864 as the Company continued its expense reduction efforts. The net losses for the three months ended September 30, 2009 and September 30, 2008 were $1,924,987 and $2,006,885, respectively.
For the nine months ended September 30, 2009, revenue was $4,637,862, a decrease of $708,218, or 13.2%, when compared to the $5,346,080 for the nine months ended September 30, 2008. Operating expenses declined $1,450,657 to $9,510,908 primarily due to year-long cost reduction efforts. The net losses for the nine months ended September 30, 2009 and September 30, 2008 were $5,141,818 and $5,611,189, respectively.
No Comment Received
Leave A Reply