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Cross Country Healthcare Reports Fourth Quarter and Year-End 2011 Results

Business Wire (03/05/2012)

Cross Country Healthcare Inc. reported revenue March 5 of $124.7 million in the fourth quarter ended Dec. 31, 2011, a 10% increase from revenue of $113.7 million in the prior year quarter and a 5% decrease from the third quarter of 2011. Net income was $0.5 million, compared with revenue of $113.7 million and a net loss of $6.0 million in the same quarter of the prior year that included $6.6 million of after-tax trademark impairment charges related to the acquisition of Medical Doctor Associates.

For the year ended Dec. 31, 2011, the company generated revenue of $504.0 million and net income of $4.1 million after the aforementioned tax-related matters. This compares with revenue of $468.6 million in the prior year that included the aforementioned impairment charges.