Crdentia Announces Third Quarter 2007 Results
26 11월 2007 - 11:00PM
PR Newswire (US)
Company Achieves Increased Revenue through Organic Growth for the
First Time in Five Quarters DALLAS, Nov. 26 /PRNewswire-FirstCall/
-- Crdentia Corp. (OTC:CRDT) (BULLETIN BOARD: CRDT) , a leading
U.S. provider of healthcare staffing services focused on the Sun
Belt markets, reported third quarter 2007 revenue of $7.3 million,
marking the first quarter of organic sequential revenue growth in
five quarters. In addition, third quarter 2007 gross margin of
21.4% increased on both a sequential quarter and year-over-year
basis and is indicative of stronger pricing and more effective cost
control. The organic growth and margin improvement came during a
seasonally weak period for the healthcare staffing industry. As
announced last month, the Company's recent acquisitions of Medical
People Healthcare Services (MPHS), Inc. and ATS Health Services,
expand its presence and depth of services throughout the Sun Belt
and achieve a management objective to spread the Company's
corporate overhead costs over a larger base of business to improve
future operating income. In addition, the recent successful
completion of its equity financing positions the Company for
continued organic growth and expansion, thus making Crdentia a
formidable competitor in its target marketplace. John Kaiser, CEO
of Crdentia, said, "The Company's strategic plan is working well. I
am delighted that the Company and our management team reinitiated
organic revenue growth early in my tenure. During the third quarter
we reported our first quarterly sequential revenue increase in five
quarters giving us a positive outlook for the future of the
Company." Mr. Kaiser continued, "I am also very pleased that the
recent addition of nine new staffing offices in the Sun Belt will
add to Crdentia's previous operations that were already on a firm
growth path as reflected by the third quarter results. Having
personally visited all of the new offices in Florida, Georgia,
North Carolina and Alabama, I am pleased to report that we are off
to a good start at both ATS Health Services and MPHS. There is
excitement throughout the combined organizations over the
operational improvements, newly initiated internal growth,
completed equity financing and further penetration of the Sun Belt.
We look forward to continuing our strong internal growth and to the
growth of the newly combined organization, along with our goal of
Crdentia achieving profitability." For additional information on
Crdentia's results of operations for the third quarter ended
September 30, 2007, the Company refers you to its Quarterly Report
on Form 10-Q filed with the Securities and Exchange Commission on
November 14, 2007. About Crdentia Corp. Crdentia Corp., one of the
nation's leading providers of healthcare staffing solutions, is
focused on recruiting talented national and international
healthcare professionals to meet the ever-increasing employment
needs of over 2,300 clients. Crdentia is one of the few companies
that can provide quality temporary staff for all healthcare
industry positions including local nurses, travel nurses, allied
health, locum tenens and home care professionals. For more
information, visit http://www.crdentia.com/. Forward Looking
Statements Statements contained in this release that are not
historical facts are forward-looking statements that involve risks
and uncertainties. Among the important factors which could cause
actual results to differ materially from those in the
forward-looking statements include, but are not limited to, those
discussed in "Risk Factors" in the Company's Forms 10-K, Forms
10-Q, and other filings with the Securities and Exchange
Commission. Such risk factors include, but are not limited to, a
limited operating history with no earnings; reliance on the
Company's management team, members of which have other business
interests; the ability to successfully implement the Company's
business plan; the ability to continue as a going concern; the
ability to fund the Company's business and acquisition strategy;
the growth of the temporary healthcare professional staffing
business; difficulty in managing operations of acquired businesses;
uncertainty in government regulation of the healthcare industry;
and the limited public market for the Company's common stock. The
actual results that the Company achieves may differ materially from
any forward-looking statements due to such risks and uncertainties.
Crdentia undertakes no obligation to revise or update publicly any
forward-looking statements for any reason. Contact Crdentia Corp.
John Kaiser, CEO Phone: 972.850.0780 Fax: 972.392.2722 Jim
TerBeest, CFO Phone: 972.850.0780 Fax: 972.392.2722 DATASOURCE:
Crdentia Corp. CONTACT: John Kaiser, CEO, , or Jim TerBeest, CFO, ,
both of Crdentia Corp., +1-972-850-0780, fax, +1-972-392-2722 Web
site: http://www.crdentia.com/
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