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Last $14.07 USD
Change Today +0.175 / 1.26%
Volume 124.4K
CCRN On Other Exchanges
Symbol
Exchange
Frankfurt
As of 11:58 AM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

cross country healthcare inc (CCRN) Snapshot

Open
$13.70
Previous Close
$13.89
Day High
$14.10
Day Low
$13.47
52 Week High
08/19/15 - $15.62
52 Week Low
09/24/14 - $7.86
Market Cap
453.4M
Average Volume 10 Days
335.1K
EPS TTM
$-0.48
Shares Outstanding
32.2M
EX-Date
--
P/E TM
--
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 certified nurse assistants on per diem and short-term assignments. This segment markets its nurse and allied staffing services under the Cross Country Staffing, Medical Staffing Network, and Allied Health Group brands. 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 to the healthcare industry, as well as provides retained and contingent 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, Director ...
Total Annual Compensation: $550.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $298.5K
President of Cross County Staffing Inc
Total Annual Compensation: $342.4K
General Counsel and Secretary
Total Annual Compensation: $364.7K
Senior Vice President of Sales & Marketing
Total Annual Compensation: $254.8K
Compensation as of Fiscal Year 2014.

cross country healthcare inc (CCRN) Key Developments

Cross Country Healthcare, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015

Cross Country Healthcare, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income attributable to common shareholders of $2,573,000 or $0.08 per basic and diluted share on revenues from services of $192,617,000 compared to net loss attributable to common shareholders of $3,181,000 or $0.10 per basic and diluted share on revenues from services of $122,656,000 a year ago. Income from operations was $4,322,000 compared to loss of $1,866,000 a year ago. Income before income taxes was $2,885,000 compared to loss of $2,175,000 a year ago. Consolidated net income was $2,680,000 compared to loss of $3,181,000 a year ago. Adjusted EBITDA was $8,181,000 compared to $3,327,000 a year ago. Adjusted EPS was $0.10 compared to $0.01 a year ago. On a pro forma basis, total revenue for the quarter was up 4% from the prior year. Year-over-year and sequential increases were driven by continued robust demand in large segment, Nurse and Allied staffing, as well as strong results in Other Human Capital Management Services segment, led entirely by search business. Net cash provided by operations for the quarter was $5,727,000 compared to $3,703,000 in the prior year. Capital expenditures totaled $450,000, in line with its expectations. For the six months period, the company reported net income attributable to common shareholders of $5,507,000 or $0.13 per diluted share on revenues from services of $378,581,000 compared to net loss attributable to common shareholders of $3,964,000 or $0.13 per basic and diluted share on revenues from services of $240,747,000 a year ago. Income from operations was $8,042,000 compared to loss of $3,357,000 a year ago. Income before income taxes was $6,972,000 compared to loss of $4,029,000 a year ago. Consolidated net income was $5,730,000 compared to loss of $3,964,000 a year ago. Adjusted EBITDA was $14,337,000 compared to $4,342,000 a year ago. Adjusted EPS was $0.12 compared to loss per share of $0.01 a year ago. Net cash provided by operations for the quarter was $5,997,000 compared net cash used in operations was $5,531,000 in the prior year. For the third quarter of 2015, the company expects consolidated revenue to be in the $192 million to $197 million range, which assumes a year-over-year growth rate of 2% to 4%. The company expects that the year-over-year growth will come from Nurse and Allied staffing and Other Human Capital Management Services. Consolidated gross profit margin is expected to be between 25.2% and 25.7%, while its adjusted EBITDA margin is expected to be between 4.2% and 4.7%. The company expects adjusted earnings per diluted share to be between $0.10 and $0.12. This guidance continues to include the results of its education business for the entire quarter.

Cross Country Healthcare Plans Acquisitions

Cross Country Healthcare, Inc. (NasdaqGS:CCRN) plans to make acquisitions. Cross Country Healthcare will use the net proceeds from the sale of Cross Country Education to finance further investments to grow revenue including acquisitions. Cross Country Education will be sold for $8 million and potential additional consideration of $0.5 million.

Cross Country Healthcare, Inc. Enters into an Amendment to its Second Lien Loan and Security Agreement

Cross Country Healthcare, Inc. entered into an amendment, dated July 22, 2015, by and among the company, as borrower, certain domestic subsidiaries as guarantors, the lenders party thereto, and BSP Agency, LLC, as agent, to its Second Lien Loan and Security Agreement. Under the terms of the amendment, the interest rate on the term loan was modified at no cost from LIBOR plus 6.50% to LIBOR plus. As of June 30, 2015, this term loan had an outstanding balance of $30.0 million. The foregoing description of the Amended Agreement is qualified in its entirety by reference to the full terms and provisions of the Second Amendment to Second Lien Loan and Security Agreement.

 

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Industry Analysis

CCRN

Industry Average

Valuation CCRN Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.6x
Price/Book 3.3x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.5x
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