Medical Care Technologies Inc. (OTC: MDCE) Stock In Focus After Earnings Update

There are a number of companies that are expected to be on the radars of investors this morning, and one of those could be Medical Care Technologies Inc. (OTC: MDCE). The company announced its financial results for the third fiscal quarter yesterday.

The Key Takeaways

Medical Care Technologies announced yesterday in its news release that there had been considerable growth in its assets year on year and significant revenue growth from the previous quarter. The company reported total assets to the tune of $1,358,467, which worked out to a year-on-year rise of 251% from $386,920 in the prior year quarter.

Growth and Profit

The revenues for the quarter stood at $249,011, and that worked out to a staggering sequential rise of 2158% from the revenues of $11,035 in the previous quarter. The company also reported net income for the quarter of $99,697, and that marked a strong turnaround from the $19,682 in loss in the prior year quarter. In the previous quarter, Medical Care Technologies had suffered losses to the tune of $24,775.

In the news release, the company further noted that the performance in the quarter was also a demonstration of its commitment to sustainable growth and efficient operations.

Management Commentary:

“This quarter’s performance validates our commitment to disciplined growth and operational excellence,” said Marshall Perkins III, CEO. “The substantial year-over-year increase in assets and the quarter-to-quarter surge in revenue are direct outcomes of our strategic initiatives. Our transition to positive net operating income is especially rewarding, as it reflects the resilience of our business model and our ability to deliver value to our shareholders.”