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Second-quarter revenue fell 3% at Cross Country Healthcare Inc. (NASD: CCRN) to $171.0 million from $175.3 million in the same period last year.
Nurse and allied staffing revenue slipped 7% to $132.7 million. The Boca Raton FL-based healthcare staffing company reported a 10% decline in staffing volume offset by a 4% year-over-year increase in travel nurse staffing revenue per hour.
"While staffing volume in our nurse and allied segment is likely to remain under pressure in the short term due to weak booking trends," said President and CEO Joseph Boshart, "we believe that business strategies we are executing will begin to reverse these negative volume trends later this year."
Cross Country's clinical trials services revenue rose 27% to $24.9 million, helped by an acquisition made last year.
Gross margin at the firm improved to 26.7% from 23.7%. Net income rose 17% to $6.4 million from $5.5 million in the second quarter of 2007.
The company estimated third-quarter revenue of between $176 million and $184 million.
Cross Country Healthcare Inc. (NASD: CCRN)
For the second quarter ended June 30, 2008, compared with the same period in 2007.
Revenue: $171.0 million, -3%
Net income: $6.4 million, +17%