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AMN to close additional offices, incur restructuring charges

July 20 2009

AMN Healthcare Services Inc. (NYSE: AHS) reaffirmed its previously issued guidance that the company's consolidated revenue for the quarter ended June 30 is expected to decline sequentially by about 20%, the company reported in an SEC filing Friday.

The company also said it will close more offices, in addition to the locations announced during the second quarter of 2009, by the end of the year to continue its goal of gaining efficiency in operations by further centralizing the company's primary operations in San Diego CA and Irving TX.

As a result, AMN estimates that it will incur restructuring costs of about $7 million to $8 million in the second half of 2009, consisting primarily of lease termination and employee severance costs. The company anticipates recognizing total pre-tax restructuring charges in 2009 of about $12 million to $13 million.

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