Cross Country Healthcare Inc. News Release (03/17/14)

Cross Country Healthcare Inc. has updated its financial results for the fourth quarter and full-year 2013. The company filed a Form 10-K reflecting an accounting adjustment to its unaudited fourth-quarter and full-year 2013 financial results previously reported March 5.

The company reported revenue of $109.2 million for the fourth quarter, down 2.2% from $111.7 million in the fourth quarter of 2012, and $438.3 million for all of 2013, down 0.97% from $442.6 million in 2012. It also reported a net loss of $52.6 million for the fourth quarter, compared with a net loss of $9.5 million in the year-ago quarter, and a net loss of $52 million for the year, compared with a net loss of $42.2 million in 2012.

In the fourth quarter, revenue totaled $71.2 million for its nurse and allied staffing segment, up 0.5% from $70.9 million, and $28.9 million for its physician staffing segment, down 5.9% from $30.7 million. For the full year, revenue totaled $279 million for nurse and allied staffing, up 0.4% from $277.8 million, and $121.4 million for physician staffing, down 1.8% from $123.5 million.

Wall Street Journal (03/18/14) Sarah Portlock; Eric Morath

Consumer prices barely budged in February, an indication that inflationary pressures are negligible. The U.S. Federal Reserve aims to keep inflation below a 2% annual rate. The consumer-price index rose a seasonally adjusted 0.1% in February from January, according to the U.S. Department of Labor. Core prices, which do not include food and energy costs, also increased 0.1%. The numbers were in line with forecasts by economists polled by Dow Jones.

Consumer prices rose 1.1% year-to-year, the weakest 12-month increase since October and below the U.S. Federal Reserve’s annual inflation target. Core prices increased 1.6% year-to-year.

MarketWatch (03/17/14) Greg Robb

Another shift in the U.S. Federal Reserve’s communications strategy is likely to occur when the central bank’s interest-rate-setting committee meets this week, because it is the first meeting to be led by Janet Yellen, the new chairman. Experts say the Fed will not simply lower the threshold to a 6% unemployment rate. Instead, the prevailing view is the Fed will move to a more “holistic” description of labor-market activity.