InvestorsHub Logo

paulde

11/26/07 9:09 AM

#8 RE: QualityStocks #7

ovember 26, 2007 - 9:00 AM EST

close Email this News Article
Your Name
Your Email
Friend's Name
Friend's Email
Receive Copy: yes

CRDT 0.29 0.00

Today 5d 1m 3m 1y 5y 10y



Crdentia Announces Third Quarter 2007 Results
Company Achieves Increased Revenue through Organic Growth for the First Time in Five Quarters
DALLAS, Nov. 26 /PRNewswire-FirstCall/ -- Crdentia Corp. (OTC 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
jkaiser@crdentia.com

Jim TerBeest, CFO
Phone: 972.850.0780
Fax: 972.392.2722
jterbeest@crdentia.com

SOURCE Crdentia Corp.



Source: PR Newswire (November 26, 2007 - 9:00 AM EST)