The group’s results, published yesterday, reveal second quarter consolidated revenue of $209.3m (£157.9m), with consolidated gross profit margin of 27%, down 50 basis points year-on-year but up 130 basis points on the previous quarter. 

Net income attributable to common shareholders was $4.9m compared to a net loss of $17.2m in the previous year, including a loss on early extinguishment of debt, a loss on derivative liability and impairment charges, equating to $22.4m after taxes. 

The firm also announced it had renewed and increased the size of its credit agreement to $215m, which includes a $100m term loan and a $115m revolving credit facility.

Commenting on the group’s performance, William J Grubbs, president and CEO at Cross Country, said: “We had a solid second quarter highlighted by year-over-year revenue growth in all three reporting segments. With revenue in line with expectations, I was pleased that we exceeded guidance for gross margin, adjusted EBITDA [earnings before interest, taxes, depreciation, and amortisation] and adjusted EPS [earning per share].”

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