Despite a challenging first-quarter that saw a 21% year-over-year drop in revenue, Cross Country Healthcare Inc. (NASDAQ: CCRN) reported it still exceeded its guidance. The downturn was seen in the company’s nurse and allied staffing segment. However, their physician staffing segment reported an uplift of 74.5%.
In response to their success, President and CEO John Martins stated: “I am pleased that we once again exceeded our expectations for revenue and profitability, reflecting continued strong execution across our business”. Besides this, the company has also deployed its Intellify VMS and signed its first vendor-neutral client.
In terms of guidance, Cross Country forecast second-quarter revenue of between $530 million and $540 million – a 28%-30% year-over-year decrease. The announcement of their results also had a positive effect on shares in the company, which were up 4.10% to $22.32. The company had a market cap of $772.8 million, standing $46.26% above their 52-week low.