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View All NewsAMN Healthcare revenue jumps 44% in Q4
AMN Healthcare Services Inc. (NYSE: AHS), the largest US healthcare staffing firm, reported fourth-quarter revenue rose 43.9% to $402.6 million amid a strong environment for healthcare staffing and all segments posting growth.
Revenue, which exceeded the top end of guidance, also benefited from acquisitions. AMN acquired Onward Healthcare, Locum Leaders and Medefis from OGH LLC in January for a purchase price of $82.5 million. AMN also acquired MillicanSolutions and The First String Healthcare in the second half of 2015.
| (US$ thousands) | Q4 2015 | Q4 2014 | % change |
| Revenue | $402,552 | $279,649 | 43.9% |
| Gross profit | $131,804 | $84,696 | 55.6% |
| Gross margin percentage | 32.7% | 30.3% | |
| Net income | $20,165 | $9,895 | 103.8% |
Fourth-quarter gross margin also impoved at the San Diego-based company, which cited an increased revenue mix of its higher-margin workforce solutions businesses along a gross margin increase in its locum tenens segment.
In January, AMN in January completed its $160 million acquisition of healthcare search firm B.E. Smith.
Quote
“We successfully integrated acquisitions made early in 2015 and further expanded our workforce solutions into executive, physician, and nurse leadership placement services through the acquisitions of B.E. Smith, The First String, and MillicanSolutions,” said President and CEO Susan Salka. “Based on the solid long-term macro-drivers of our industry, the current market environment and our continuing strong trends as we begin 2016, we feel positive about our growth trajectory and ability to continue delivering differentiated value to our clients and shareholders.”
Revenue by segment
| (US$ thousands) | Q4 2015 | Q4 2014 | % change |
| Nurse and allied healthcare staffing | $288,595 | $191,570 | 50.6% |
| Locum tenens staffing | $99,256 | $76,170 | 30.3% |
| Physician permanent placement services | $14,701 | $11,909 | 23.4% |
Full-year results
| (US$ thousands) | 2015 | 2014 | % change |
| Revenue | $1,463,065 | $1,036,027 | 41.2% |
| Gross profit | $469,363 | $316,117 | 48.5% |
| Gross margin percentage | 32.1% | 30.5% | |
| Net income | $81,891 | $33,217 | 146.5% |
Guidance
AMN forecasts first-quarter revenue of $444 million to $450 million. Gross margin is forecast to be approximately 33.0%.
Share price and market cap
Shares in AMN rose 9.54% in early afternoon trading today to $27.44, and the company had a market cap of $1.31 billion, according to Yahoo!