FINANCIALS: Cross Country Healthcare sees fall in revenue

US-based Cross Country Healthcare has seen revenue drop 12% year-on-year, according to results for the quarter to 30 September 2018.

The results reveal the US healthcare staffing specialist reported consolidated revenue of $200.7m (£169.2m), with consolidated gross profit margin of 25.7%, down 80 basis points on the same quarter last year.

But commenting on the group’s performance, president and CEO William Grubbs said the results were in line with expectations despite a further decline in premium rate business and higher than anticipated healthcare costs.

“We are encouraged by the significant recent increase in demand we are experiencing across many of our key customers and geographies especially in travel nurse, our largest service line.

“The anticipated ramp from our recent MSP wins, investments and recent productivity initiatives, along with favourable market conditions, position us well as we enter 2019.”

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