AMN Healthcare Services Inc. (NYSE: AHS), a San Diego-based healthcare staffing company, reported first-quarter revenue rose 60.1 percent on a year-over-year basis to $229.4 million. On a sequential basis, from the fourth quarter of 2010, revenue rose 4.1 percent. AMN acquired Nursefinders Inc., the parent company of Medfinders, in September 2010.

First-quarter revenue in the nurse and allied staffing segment rose 79.2 percent year over year and 5.9 percent sequentially. Revenue in the segment was $134.8 million in the first quarter, compared with $75.2 million last year.

Locum tenens revenue rose 16.2 percent year over year in the first quarter to $70.2 million and was up 1.1 percent sequentially. Physician permanent placement services revenue rose 40.5 percent year over year to 10.8 million and was up 16.3 percent sequentially.

The home healthcare services segment, first introduced in the third quarter of last year with the Medfinders acquisition, posted revenue of $13.6 million, down 4.8 percent from fourth-quarter results of $14.3 million.

“We continue to experience a steady market recovery, as represented by a fourth consecutive quarter of sequential, consolidated revenue growth. A healthy indicator of the improved underlying market demand is that it has been broad-based across many clients, specialties and geographies,” said Susan Salka, president and CEO. “We are also seeing our acquisition of Medfinders continue to pay off. Our stronger, combined managed services program offering has brought value and differentiation to our healthcare clients, and this has helped our travel nurse staffing business to grow at a faster pace.”

Gross margin rose to 29.6 percent from 27.9 percent a year ago.

Net income rose to $2.3 million from $780,000 last year.

Looking forward, AMN Healthcare expects second-quarter revenue of between $234 million and $238 million, a year-over-year increase of between 64.5 percent and 67.3 percent.

AMN Healthcare Services Inc. (NYSE: AHS)
For the first quarter ended March 31, 2011, vs. first quarter ended March 31, 2010
Revenue: $229.4 million, + 60.1 percent
Net income: $2.3 million, +189.2 percent