Last $7.07 USD
Change Today +0.19 / 2.76%
Volume 217.1K
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As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

cross country healthcare inc (CCRN) Snapshot

Open
$6.83
Previous Close
$6.88
Day High
$7.21
Day Low
$6.79
52 Week High
01/28/14 - $11.54
52 Week Low
04/22/13 - $4.62
Market Cap
219.9M
Average Volume 10 Days
227.5K
EPS TTM
$0.0005
Shares Outstanding
31.1M
EX-Date
--
P/E TM
15,711.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for CROSS COUNTRY HEALTHCARE INC (CCRN)

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cross country healthcare inc (CCRN) Details

Cross Country Healthcare, Inc. provides healthcare staffing and workforce solutions in the United States. The company operates through three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch based local nurses and allied staffing; and short-term staffing of registered nurses, licensed practical nurses, and nurse assistants on short-term assignments. This segment markets its nurse and allied staffing services under the Cross Country Staffing and Allied Health Group brands; and provides health and medical services for-profit and not-for-profit sectors. It serves public and private acute-care and non-acute care hospitals, government facilities, schools, outpatient clinics, ambulatory care facilities, physician practice groups, retailers, and other healthcare providers. The Physician Staffing segment provides temporary physician staffing (locum tenens) services to the healthcare industry. This segment provides physicians in various specialties, certified registered nurse anesthetists, nurse practitioners, and physician assistants under the Medical Doctor Associates brand as independent contractors on temporary assignments at various healthcare facilities, such as acute and non-acute care facilities, medical group practices, government facilities, and managed care organizations. The Other Human Capital Management Services segment offers education and training programs, as well as provides retained search services for physicians and healthcare executives. Cross Country Healthcare, Inc. was founded in 1996 and is headquartered in Boca Raton, Florida.

cross country healthcare inc (CCRN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $377.9K
President of Cross County Staffing Inc.
Total Annual Compensation: $385.0K
General Counsel and Secretary
Total Annual Compensation: $375.9K
Special Advisor
Total Annual Compensation: $357.7K
Senior Vice President of Sales and Marketing
Total Annual Compensation: $155.0K
Compensation as of Fiscal Year 2013.

cross country healthcare inc (CCRN) Key Developments

Cross Country Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Announces Impairment Charges for the Fourth Quarter Ended December 31, 2013

Cross Country Healthcare, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue from services of $109,179,000 compared to $111,731,000 a year ago. Loss from operations was $7,109,000 compared to $979,000 a year ago. Loss from continuing operations before income taxes was $7,310,000 compared to $1,324,000 a year ago. Loss from continuing operations was $52,922,000 or $1.70 per diluted share compared to $2,985,000 or $0.10 per diluted share a year ago. Net loss was $52,584,000 or $1.69 per diluted share compared to $9,533,000 or $0.31 per diluted share a year ago. Adjusted EBITDA was $1,773,000 compared to $1,309,000 a year ago. Net cash used in operating activities was $2,900,000 compared to net cash provided by operating activities of $4,440,000 a year ago. Adjusted net income was $156,000 or $0.00 per diluted share compared to Adjusted net loss of $9,533,000 or $0.31 per diluted share a year ago. Adjusted net loss from continuing operations was $182,000 or $0.01 per diluted share compared to Adjusted net loss from continuing operations of $2,985,000 or $0.10 per diluted share a year ago. For the year, the company reported revenue from services of $438,311,000 compared to $442,635,000 a year ago. Loss from operations was $8,022,000 compared to $24,518,000 a year ago. Loss from continuing operations before income taxes was $10,039,000 compared to $26,895,000 a year ago. Loss from continuing operations was $54,250,000 or $1.75 per diluted share compared to $20,745,000 or $0.67 per diluted share a year ago. Net loss was $51,969,000 or $1.68 per diluted share compared to $42,221,000 or $1.37 per diluted share a year ago. Adjusted EBITDA was $8,365,000 compared to $3,977,000 a year ago. Net cash provided by operating activities was $8,659,000 compared to $10,146,000 a year ago. Adjusted net income was $2,455,000 or $0.08 per diluted share compared to Adjusted net loss of $30,148,000 or $0.98 per diluted share a year ago. Adjusted net income from continuing operations was $174,000 or $0.01 per diluted share compared to Adjusted net loss from continuing operations of $8,672,000 or $0.28 per diluted share a year ago. Impairment charges in the three months ended December 31, 2013, relate to the impairment of trade names acquired in the Company's MDA acquisition, of which $6.2 million was for a trade name in the Company's physician staffing business segment and $0.2 million was for a trade name in the Company's nurse and allied staffing business segment.

Cross Country Healthcare Announces Management Changes

Cross Country Healthcare, Inc. announced the appointment of William Burns as Chief Financial Officer, effective April 1, 2014, succeeding Emil Hensel who is retiring. Mr. Burns, a Certified Public Accountant, has served as Group Vice President and Corporate Controller for Gartner, Inc. since 2008, and prior to that served as Chief Accounting Officer for CA Technologies, Inc. Mr. Hensel will remain with the company as Special Advisor until June 3, 2014 to assist in a smooth transition of responsibilities to Mr. Burns.

Cross Country Healthcare, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter of 2014 and Provides Capex Guidance for the Full Year of 2014; Reports Impairment Charges for the Fourth Quarter of 2013

Cross Country Healthcare, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. Fourth quarter consolidated revenue was $109.2 million, a decrease of 2% from the same quarter last year, and an increase of 1% sequentially. Loss from continuing operations in the fourth quarter was $35.5 million or $1.14 per diluted share due to a non-cash valuation allowance on its deferred tax assets, impairment charges and acquisition costs. Loss from continuing operations in the fourth quarter of 2012 was $3.0 million or $0.10 per diluted share. Loss from continuing operations before income taxes was $7.3 million, compared with a loss from continuing operations before income taxes of $1.3 million, in the prior year quarter. Net loss was $35.200 million or $1.13 per diluted share compared to net loss of $9.533 million or $0.31 per diluted share a year ago. Net cash used in operations was $2.9 million against net cash provided by operating activities of $4.440 million a year ago. Adjusted EBITDA from continuing operations increased to $1.8 million, or 1.6% of revenue, from $1.3 million, or 1.2% of revenue, in the prior year quarter. Adjusted loss from continuing operations was $182,000 or $0.01 per diluted share against $2,985,000 or $0.10 per diluted share a year ago. Adjusted net income was $156,000 against loss of $9,533,000 or $0.31 per diluted share a year ago. Capital expenditures totaled approximately $1.1 million in the fourth quarter. Consolidated revenue for the full year was $438.3 million, a decrease of 1% from $442.6 million last year. Adjusted EBITDA from continuing operations increased to $8.4 million, or 1.9% of revenue, from $4.0 million, or 0.9% of revenue, in the prior year. Loss from continuing operations before income taxes was $10.0 million, compared with a loss from continuing operations before income taxes of $26.9 million, in the prior year. Loss from continuing operations was $36.9 million, or $1.19 per diluted share, compared with a loss from continuing operations of $20.7 million, or $0.67 per diluted share, in the prior year. Net loss was $34.585 million or $1.12 per diluted share compared to net loss of $42.221 million or $1.37 per diluted share a year ago. Adjusted income from continuing operations was $174,000 or $0.05 per diluted share against loss of $8,672,000 or $0.01 per diluted share a year ago. Adjusted net income was $2,455,000 or $0.08 per diluted share against loss of $30,148,000 or $0.98 per diluted share a year ago. Net cash provided by operating activities was $8.659 million against net cash provided by operating activities of $10.146 million a year ago. Capital expenditures totaled approximately $1.8 million for the year as a whole. For the first quarter of 2014, the company expects revenue to be in the $119 million to $121 million range. Gross profit margin to be approximately 26.0% to 26.5%. Adjusted EBITDA margin from continuing operations to be in the 1% to 2% range. Interest expense is expected to be approximately $250,000 in the first quarter. Depreciation and amortization expense is expected to be up sequentially by approximately $250,000, reflecting the impact of the acquisition. The company expects about $3 million of capex for the full year of 2014. For the quarter, the company reported impairment charges of $6.400 million.

 

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