The results, released yesterday, reveal revenue was $195.2m (£149.5m), with consolidated gross profit margin of 24.7%, down 90 basis points year-on-year. The group also posted a net loss of $1.8m over the period compared to net income of $1.6m in the same period of last year.

The business saw revenue from its nurse and allied staffing division drop 5% year-on-year, with revenue down 19% and 25% for its search services and physician staffing divisions respectively.

Commenting on the group’s performance, president and CEO Kevin Clark, who returned to Cross Country after 25 years, said: “Following my first few months back with Cross Country, I am pleased with the progress we are making, and I am seeing momentum across our teams.

“We continue to see favourable market dynamics and we are making the necessary changes to our business in order to best position the company for success.”

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