Revenue rose 5.8% in the first quarter at AMN Healthcare Services Inc. (NYSE: AMN). Excluding labor disruption revenue and the leap-year impact, consolidated first quarter revenue rose 10% year over year.

The San Diego-based firm ranks as the largest US healthcare staffing provider.

Quote

“With a positive outlook for 2017 and favorable long-term macro drivers providing us confidence in our business, we will continue to make investments that enable us to extend our leadership position into the future,” President and CEO Susan Salka said.

Revenue by segment

Travel nurse staffing revenue rose 9% while allied healthcare revenue rose 14%. Total nurse and allied revenue was up 5.3%.

Year-year-year growth in the “other workforce solutions” segment was driven by the acquisition of medical coding firm Peak Health Solutions last June and growth in the company’s VMS, interim leadership, and workforce optimization businesses.

Guidance

AMN forecast second-quarter revenue of between $486 million and $492 million. Excluding any labor disruption revenue, the second quarter is expected to reflect year-over-year growth of 7% to 8%. On an “as reported” basis, the projected growth rate of 3% to 4% reflects the impact of significant labor disruption revenue in the prior year. The sequential decline comes from a seasonal decline in travel nursing, partially offset by growth in all other divisions.

Share price and market cap

Shares in AMN fell 3.72% in early afternoon trading today to $38.17. The company had a market cap of $1.83 billion, according to Yahoo.