Healthcare staffing provider Cross Country Healthcare Inc. (NASDAQ: CCRN) reported fourth-quarter revenue rose 7.1%, and all its divisions posted increases in revenue, with the biggest year-over-year increase coming from physician staffing.

“2019 was clearly a successful turnaround year for Cross Country, and with the investments we have made throughout the year taking hold, we enter 2020 in a much stronger position,” President and CEO Kevin Clark said in a statement.

Gross margin narrowed at the Boca Raton, Florida-based firm. Net loss declined in the fourth quarter compared with a year ago; the fourth quarter of 2018 had included an impairment charge of $22.4 million, a noncash charge related to the goodwill and trade names of its physician staffing segment.

Revenue by segment

Cross Country noted the average field full-time equivalents rose to 7,339 in the fourth quarter from 7,056 in the year-ago quarter. Revenue per full-time equivalent per day was $284 in the fourth quarter compared with $276 in the same quarter last year.

In physician staffing, total days filled were 11,672 in the fourth quarter compared with 11,663 in the year-ago quarter.

Full-year results

Full-year 2019 also included legal settlement charges of $1.6 million and impairment charges of $16.3 million; full-year 2018 had included an impairment charge of $22.4 million.

Guidance

Cross Country forecast first-quarter revenue to be up 6% to 9% year over year to between $207 million and $212 million.

Share price and market cap

Shares in Cross Country were down 9.4% to $9.02 as of 11:07 a.m. Eastern time; the company had a market cap of $342.6 million; according to FT.com.