Cross Country Healthcare Inc. (NASDAQ: CCRN) reported first-quarter revenue rose 7.6% with growth across its segments. However, the Boca Raton, Florida-based healthcare staffing firm said it was not issuing guidance for the second quarter and demand for services remains volatile. Orders initially surged because of the Covid-19 crisis but have since trended downward.

While the crisis has prompted increases in some business, some facilities are canceling non-pandemic assignments because of low patient census and deferred elective procedures. The company has also seen declines in its education business that are being partially offset by demand for teletherapy services.

Reported restructuring costs of $564,000 in the first quarter compared to $1.1 million in the same quarter last year.

Revenue by segment

Cross Country’s board approved a request by co-founder and CEO Kevin Clark that his base pay be reduced by 10%; independent board members’ cash compensation will be reduced by 10% as well.

Share price and market cap

Shares in Cross Country were down 7.3% to $5.82 as of 12:11 p.m. Eastern time; the company had a market cap of $231.5 million, according to FT.com.