NEW YORK, Aug. 20 /PRNewswire-FirstCall/ -- MT Ultimate Healthcare Corp (BULLETIN BOARD: MTHC) , an emerging healthcare staffing and services provider, today reported strong financial results for the second quarter of 2004, ended June 30.
The Company today announced results for the second quarter and six months ended June 30, 2004. Revenues rose to $466,975 from $220,935 for the three months ended June 30, 2003, reflecting an increase of $246,040 or 110% for the three months ended June 30, 2004. The increase in revenues was generally due to the results of new business development activities.
Revenues in the first half climbs by $426,555 to $881,351 or 94% for the six months ended June 30, 2004 compared to $454,776 in revenues for the six months ended June 30, 2003.
Second quarter and six months expenses for continuing operations compared with the prior year increased as a result of the company’s expanded business development activities. The Company reported a net loss of ($75,000) for the second quarter and six months reported a net loss ($482,060).
MT Ultimate Healthcare President and CEO MacDonald Tudeme said, “We are pleased and proud of the progress we have made so far this year, particularly as the increase was achieved primarily through organic growth. Our performance in the past six months demonstrates the value of our expansion strategy.”
“In the past six months, we have made some great strides,” MacDonald added. “Our strong performance during the first half of the year has proven the value of our growth plan. The increase in cost of revenues was primarily due to the increased revenues as well as certain initial costs associated with launching the Company’s “high tech” nursing practice and establishing the office in Baldwin, New York. With the acquisition of BP Senior Care, Inc. and momentum of our acquisition strategy, we expect that our business will continue to grow strongly in the months ahead.”
About MT Ultimate Healthcare
MT Ultimate Healthcare provides skilled, professional health care services to patients requiring in-home care. The Company also supplies supplemental staffing to hospitals, nursing homes and healthcare facilities to aid in handling excess workloads. MT Ultimate Healthcare is licensed to provide skilled healthcare services in the state of New York and provides a superior solution to healthcare staffing needs, because it provides qualified professionals on an as-needed, same-day basis and assumes all obligations of the employer. The Company is a natural source of skilled home health care assistance because of its established relationship with healthcare facilities.
For more information, visit http://www.mthealthcare.com/
Safe Harbor Statement: Statements in this press release concerning the Company’s business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, and network or service offering growth, together with other statements that are not historical facts, are “forward-looking statements” as that term is defined under the Federal Securities Laws. Any forward-looking statements are estimates, reflecting the best judgment of the party making such statements based upon currently available information and involve a number of risks and uncertainties, including the timing of any expansion of the Company’s database, and other factors which could cause actual results to differ materially from those stated in such statements. Risks, uncertainties and factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors.
Contact: MT Ultimate Healthcare MacDonald Tudeme, President and CEO mac@mthealthcare.com 718 943 3400
MT Ultimate Healthcare Corp
CONTACT: MacDonald Tudeme, President and CEO of MT Ultimate Healthcare,+1-718-943-3400, mac@mthealthcare.com
Web site: http://www.mthealthcare.com/
