Cross Country Healthcare Inc. (NASDAQ: CCRN) reported revenue reached its highest level in company history in the first quarter with growth of 139.6% year over year. Nurse and allied staffing revenue was up 144.6% at the Boca Raton, Florida-based healthcare staffing firm. Net income also jumped.

“As we transition into a post-Covid world, we anticipate ongoing increases in the number of professionals on assignment by continuing to partner with our clients and clinicians to address short- and long-term talent management needs,” said John Martins, president and CEO.

Cross Country noted that its “nurse and allied staffing” segment had an average of 13,454 full-time equivalent field personnel on contract during the first quarter. That’s up from 6,614, in the year-ago quarter.

“The increase in the average number of FTEs was primarily due to headcount growth in travel nurse and allied, as well as the year-over-year additional headcount resulting from the Workforce Solutions Group (WSG) acquisition,” according to company. It also reported the spike in professionals on assignment and volume growth drove the year-over-year revenue increase in the segment.

Revenue growth in the Cross Country’s “physician staffing” segment was driven by an increase in volume in primary care physicians and certified registered nurse anesthetists.

Revenue by segment

Guidance

Cross Country forecast second-quarter of between 122% and 125% year over year.

It estimated second-quarter gross profit margin at between 22.3% and 22.8%.

Share price and market cap

Shares in Cross Country were down 7.90% to $17.83 as of 12:28 p.m. Eastern time; they were 31.71% above their 52-week low, according to FT.com. The company had a market cap of $736.9 million.