2010 Revenue Growth Above Estimates for Medical Connections Holdings Inc. (MCTH.OB)

By @ibtimes on

Medical Connections Holdings Inc. is a national provider of medical recruitment and staffing services for permanent and contract positions. The company’s business is to identify, select and place the industry’s most talented healthcare specialists, nurses, pharmacists, physicians and hospital management executives.

The company announced earlier this week that annual revenue increased 27% compared to 2009 and 47% when comparing the fourth quarter of 2010 to the same period in 2009. The improvement reflected volume gains in contract travel staffing in the allied segment, Medical Connections’ primary business line. Permanent placement staffing levels remained stable.

Medical Connections reported today that its revenue gains in 2010 exceeded staffing industry analysts’ estimates for the industry as a whole. Staffing industry analysts had estimated a 4% decline in allied-based revenue and an 8% decline for the healthcare staffing industry as a whole. Analysts had pointed to the weak US economy as the main factor behind their estimates.

Anthony Nicolosi, president of Medical Connections, pointed to the reasons why his company outperformed in 2010. He said, “We attribute our growth to our focus on business fundamentals and commitment to success.” Mr. Nicolosi believes the future looks bright for the industry, stating “We believe the worst economics are behind us and are positive in our outlook for 2011.”

For more information about Medical Connections Holdings, please visit the company’s website at www.medicalconnections.com.

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