Cross Country Healthcare Inc. News Release (03/04/15)

Cross Country Healthcare Inc. reported revenues of $188.1 million in the fourth quarter of 2014, up 72% from $109.2 million in the fourth quarter of 2013, and $617.8 million for all of 2014, up 41% from $438.3 million in 2013. The company reported a net loss of $20.2 million for the fourth quarter, compared with a net loss of $52.6 million in the year-ago quarter, and a net loss of $31.8 million for the year, compared with a net loss of $52 million in 2013.The company recorded just over $20 million in impairment, restructuring, acquisition, and integration costs, and changes in fair value of convertible note derivative liability, in the quarter.

By segment, fourth-quarter revenue totaled $146.7 million for nurse and allied health care staffing, up 111.8% from $69.3 million in the year-ago quarter, and $31 million for physician staffing, up 0.6% from $30.8 million. For the year, revenue totaled $457 million for nurse and allied health care staffing, up 68.3% from $271.6 million in 2013, and $123.3 million for physician staffing, down 4.3% from $128.8 million.