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AMN Revenue Rises 7%

August 03 2012

Second-quarter revenue at AMN Healthcare Services Inc. (NYSE: AHS), a U.S. healthcare staffing firm, rose 6.9 percent to $235.8 million from $220.6 million in the year-ago period.

Revenue in the company’s nurse and allied healthcare operations rose 13.3 percent in the second quarter to $158.6 million on a year-over-year basis.

However, second-quarter physician placement revenue rose only 1.1 percent to $9.6 million, and locum tenens revenue fell 4.9 percent to $67.6 million. Physician placement revenue rose 10 percent if the impact of a new revenue recognition accounting standard is excluded, the company reported.

Second-quarter gross margin edged up to 28.4 percent from 27.3 percent in the year-ago quarter. AMN reported the increase in gross margin was due to high bill-to-pay spreads in the locum tenens and nurse and allied healthcare staffing segments.

The company posted a second-quarter net loss of $81,000, compared with net income of $813,000 in the year-ago period. AMN reported that is refinanced its debt and charged to interest expense $8.6 million of non-cash deferred costs associated with the previous credit facilities and a $1.2 million pre-payment penalty.

Looking forward, AMN Healthcare forecast third-quarter revenue of between $236 million and $240 million, a year-over-year decline of between 0.9 percent and 2.6 percent.

AMN Healthcare Services Inc. (NYSE: AHS)
For the second quarter ended June 30, 2012, compared with the same period in 2011.
Revenue: $235.8 million, +6.9 percent
Net loss: $81,000 vs. net income of $813,000

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