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AMN Healthcare Services Inc. (NYSE: AHS), the largest U.S. healthcare staffing firm, reported third-quarter revenue rose 5.4 percent year over year to $257.1 million, at the high end of the company’s guidance. Revenue rose across the company’s segments and gross margin also improved.
“The locum tenens and physician permanent placement businesses have been executing and performing very well in a strong demand environment,” said President and CEO Susan Salka. “In the nurse and allied staffing businesses, the demand environment has been more moderate due to census, client reaction to reimbursement cuts and uncertainty of the impact of the Affordable Care Act.”
Third-quarter revenue by segment includes:
- Nurse and allied healthcare staffing revenue rose 2.8 percent year over year in the third quarter to $171.0 million.
- Locum tenens staffing revenue rose 11.3 percent to $75.3 million
- Physician permanent placement services revenue rose 90.0 percent to $10.9 million
Third-quarter gross margin improved to 29.4 percent from 28.5 percent in the year-ago quarter, driven by improvement in the nurse and allied healthcare staffing and locum tenens staffing segments.
Net income for the quarter rose 47.1 percent to $8.6 million from $5.9 million in the third quarter of last year.
Shares of AMN rose in morning trading, according to Yahoo!
AMN Healthcare Services Inc. (NYSE: AHS)
For the third quarter ended Sept. 30, 2013, compared to the same period in the previous year.
Revenue: $257.1 million, +5.4 percent
Net income: $8.6 million, +47.1 percent