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Cross Country Healthcare Announces Updated Fourth Quarter and Full-Year 2013 Financial Results

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.