AMN Healthcare Announces Second Quarter 2012 Results
AMN Healthcare Services News Release (08/02/12)
AMN Healthcare Services Inc. on Aug. 2 reported that for the second quarter of 2012, the company generated consolidated revenue of $236 million, an increase of 7% from the same quarter last year and 4% sequentially. Second quarter revenue for the nurse and allied healthcare staffing segment was $159 million, up 13% from the same quarter last year and 3% sequentially. The locum tenens staffing segment generated revenue in the second quarter of $68 million, a decrease of 5% from the same quarter last year and an increase of 6% sequentially. Second quarter physician permanent placement services segment revenue was $10 million, an increase of 1% from the same quarter last year and 6% sequentially. Excluding the impact of the prior-year adoption of a new revenue recognition accounting standard, revenue for this segment increased 10% year-over-year.
Gross margin in the second quarter of 28.4% was higher by 110 basis points from the same quarter last year and 50 basis points compared with the previous quarter. The increase in gross margin was due primarily to higher bill to pay spreads in the locum tenens staffing and nurse and allied healthcare staffing segments.
Economy Adds 163,000 Jobs
Wall Street Journal (08/03/12) Jeffrey Sparshott; Tom Barkley
Job growth picked up a bit in July, the U.S. Department of Labor reported today. Total nonfarm payrolls increased by 163,000, although the unemployment rate ticked higher to 8.3% in July from 8.2% in the previous month. Economists surveyed by Dow Jones Newswires expected a gain of 95,000 in payrolls and an 8.2% jobless rate. June and May payroll numbers were revised with only a small net effect—June payrolls rose 64,000 compared with the initially reported 80,000, and May was up 87,000 versus an earlier estimate of 77,000.
The latest payroll numbers are encouraging after three months of weak job creation, but the figures still are not enough to lower the unemployment rate, and hiring remains well below the pace set at the start of the year.
Trustaff Buys Florida Staffing Firm
Cincinnati Business Courier (08/02/12) Evan Weese
The Boca Raton, FL-based health care staffing firm Medical Connections Inc. has been acquired by Trustaff, a Cincinnati-based executive search firm. The acquisition will give Trustaff a presence in Florida, having recently expanded into such cities as Columbus, Indianapolis, and Louisville. “We’ve been eyeballing all sorts of acquisitions,” says Trustaff marketing manager Andy Hartman. Trustaff will retain 69 of the company’s 75 employees and assume a 10,000-square-foot office in Boca Raton.
Xtreme Consulting Group Acquires Kipe Technology Resources
Xtreme Consulting Group News Release (08/01/2012)
Xtreme Consulting Group Inc. has reached a definitive agreement to acquire Kipe Technology Resources, a technology staffing firm based in Beaverton, OR. “The combination of Kipe with Xtreme will create one of the largest consulting and staffing firms based in the Northwest,” said Greg Rankich, chief executive officer and co-founder of Xtreme. “The acquisition greatly advances our strategy of expanding our customer base, adding depth to our talent pool, and strengthening our position in the marketplace.”
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