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View All NewsAMN revenue beats guidance in Q1
AMN Healthcare Services Inc. (NYSE: AHS) reported first-quarter revenue rose 36.0% in the first quarter to $327.5 million, above guidance of $310 million to $314 million.
The San Diego-based company, which ranks as the largest US healthcare staffing provider, reported revenue rose 22% excluding acquisitions. It acquired Onward Healthcare, Locum Leaders and VMS provider Medefis from OGH LC in January for $82.5 million.
Net income jumped and gross margin also improved.
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth |
| Revenue | $327,510 | $240,881 | 36.0% |
| Gross profit | $101,432 | $73,956 | 37.2% |
| Gross margin percentage | 31.0% | 30.7% | |
| Net income | $12,209 | $7,630 | 60.0% |
Quote
“Amid positive trends in the healthcare industry, we continued to experience strong demand and outstanding execution across all business segments, resulting in better than anticipated revenue and profitability growth during the first quarter,” President and CEO Susan Salka said. “The pipeline of opportunities for our strategic workforce solutions offerings remains strong, and our recently added Avantas, Onward Healthcare, Locum Leaders and Medefis companies are performing and integrating very well into AMN’s service offerings.”
Revenue by segment
| (US$ thousands) | Q1 2015 | Q1 2015 | % growth |
| Nurse and allied healthcare staffing | $229,046 | $163,450 | 40.1% |
| Locum tenens staffing | $86,692 | $66,871 | 29.6% |
| Physician permanent placement services | $11,772 | $10,560 | 11.5% |
Excluding acquisitions, nurse and allied healthcare staffing revenue rose 24% and locum tenens staffing revenue rose 19%.
Guidance
AMN forecast second-quarter revenue of between $335 million and $340 million. Gross margin is forecast at between 30.5% and 31.0%.
Share price and market cap
Shares in AMN rose 7.92% in late morning trading to $24.65. The company had a market cap of $1.16 billion, according to Yahoo!