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Arcadia's healthcare staffing revenue falls 40%

November 16, 2009
Staffing Industry Analysts North American Daily News

Healthcare staffing revenue fell 39.6% at Arcadia Resources Inc. (AMEX: KAD) to almost $4.5 million in its fiscal second quarter ended Sept. 30 from almost $7.4 million in the same period last year.

Arcadia cited softness in demand for the decline in medical staffing.

Second-quarter revenue in the company's home healthcare operations fell 1.1% on a year-over-year basis to $17.3 million.

Gross margin in the company's services segment, which includes healthcare staffing and home healthcare, slipped to 15.1% from 16.6%.

In addition to healthcare staffing and home healthcare operations, Indianapolis-based Arcadia provides nonstaffing services including pharmacy operations. The company's total second-quarter revenue was $25.6 million, down 4.1% from the same period last year.

Arcadia posted a net loss of $4.1 million compared with a net loss of $3.2 million in the year-ago quarter.

Arcadia Resources Inc. (AMEX: KAD)
For the fiscal second quarter ended Sept. 30, 2009, compared with the same period in the previous year.
Revenue: $25.6 million, -4.1%
Net loss: $4.1 million vs. net loss of $3.2 million