Cross Country Healthcare Inc. News Release (08/06/12)

Cross Country Healthcare Inc. on Aug. 6 reported revenue of $126.3 million in the second quarter ended June 30, 2012, essentially flat compared with both the prior year quarter and sequentially from the first quarter of 2012. The company incurred a net loss in the second quarter of 2012 of $14.5 million, which included a noncash goodwill impairment charge of $12.0 million after-tax.

Joseph A. Boshart, president and chief executive officer of Cross Country Healthcare, noted that “both the physician staffing and clinical trial services businesses—which combined accounted for 38% of total revenue—achieved year-over-year and sequential growth in the second quarter.” For the second quarter of 2012, the physician staffing business segment generated revenue of $30.9 million, an increase of 1% from the prior year quarter and a 6% increase sequentially from the second quarter of 2012. The year-over-year increase was due to higher revenue per day filled and the sequential increase resulted from higher staffing volume, in particular for hospitalists and emergency medicine physicians, along with higher revenue per day filled.

The nurse and allied staffing business segment generated revenue of $67.6 million in the second quarter, reflecting a 1% decrease from the prior year quarter and a 3% decrease sequentially from the first quarter of 2012, both due primarily to lower staffing volume. Segment staffing volume decreased 1% from both the prior year quarter and sequentially. Travel staffing volume increased slightly year-over-year, but decreased 1% sequentially while per diem staffing volume decreased 10% year-over-year and 2% sequentially.

Ciber News Release (08/07/12)

Ciber Inc. today reported results for the second quarter of 2012. Revenue topped $237.0 million, a 2% year-over-year decrease, or a 3% increase in constant currency. Operating income rose to $4.7 million, up 117%, or up 11% excluding last year’s significant items. Excluding significant items, revenue decreased 7% year-over-year, or 2% in constant currency.

President and chief executive officer Dave Peterschmidt said, “We have accomplished a great deal in changing the flight of Ciber during challenging times. In the second quarter we delivered year-over-year operating income growth despite softness in revenue. Our focus on improving the sales engine in North America produced revenue growth sequentially for the second consecutive quarter for this division, we held international revenue flat year-over-year in local currency, and we expanded each segment’s gross margin from first quarter levels.”

New York Times Online (08/06/12) Nicholas Bakalar

Offering paid sick leave might reduce the rate of nonfatal injury among workers and improve the bottom line at the same time, according to a new study from the Centers for Disease Control and Prevention. Researchers found that from 2005 to 2008 the injury rate per 100 workers among those with paid sick leave was 2.59, compared with 4.18 among those without.

The availability of sick leave and the probability of injury varies by industry, sex, education level, and geography. But even after accounting for these and other variables, the researchers found that the odds of a nonfatal injury were 28% lower among workers with paid sick leave. The lead author of the study, Abay Asfaw, a senior service fellow at CDC, says that providing paid sick leave may benefit both employers and workers. “We can infer,” Asfaw says, “that lower injury rates mean lower levels of workers’ compensation payments. In the long term, paid sick leave might help employers to reduce cost and increase profit.”