Cross Country Healthcare Inc. News Release (03/05/14)

Cross Country Healthcare Inc. reported consolidated revenue of $109.2 million for the fourth quarter of 2013, down 2.0% from $111.7 million in the fourth quarter of 2012, and $438.3 million for all of 2013, down 1.0% from $442.6 million in 2012. The company reported a net loss of $35.2 million for the fourth quarter, compared with a net loss of $9.5 million in the year-ago quarter, and a net loss of $34.6 million for 2013, compared with a net loss of $42.2 million in 2012.

For the fourth quarter, revenue rose 0.4% from $70.9 million to $71.2 million for its nurse and allied staffing business segment but fell 5.9% from $30.7 million to $28.9 million for its physician staffing segment. For the full year, revenue increased 0.4% from $277.8 million to $279 million for its nurse and allied staffing segment but decreased 1.7% from $123.5 million to $121.4 million for its physician staffing segment.

Bloomberg (03/06/14) Jeanna Smialek

U.S. jobless claims fell 26,000 last week to 323,000 from 349,000, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast 336,000 claims. The four-week moving average of claims fell to 336,500 from 338,500 the prior week.

American Staffing Association (03/06/14)

The Federal Reserve Board’s latest report on regional economies (known as the “beige book”) indicates that economic conditions around the U.S. continued to expand in the first few weeks of 2014. The majority of districts reported improved levels of activity, and the outlook in most regions remained optimistic. Employment levels improved gradually, and many districts continued to note shortages for particular types of specialized, skilled labor.

MarketWatch (03/05/14) Jeffry Bartash

The Institute for Supply Management’s nonmanufacturing index dropped to 51.6% in February from 54% in January. Readings above 50 indicate expansion. Economists had forecast 53%. The decline is largely attributed to an 8.9 point drop in the employment gauge, from 56.4% in January to 47.5% in February. Inclement weather contributed to a slowdown in hiring.