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Cross Country reports 4Q loss

BOCA RATON, Fla. (AP) _ Cross Country Healthcare Inc. (CCRN) on Wednesday reported a loss of $7.9 million in its fourth quarter.

On a per-share basis, the Boca Raton, Florida-based company said it had a loss of 24 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 20 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The provider of health care staffing and workforce management services posted revenue of $222.5 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $210 million.

For the year, the company reported profit of $8 million, or 15 cents per share. Revenue was reported as $833.5 million.

For the current quarter ending in April, Cross Country said it expects revenue in the range of $209 million to $214 million.

The company expects full-year results to range from a loss of 9 cents per share to a loss of 7 cents per share.

Cross Country shares have climbed 1.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.84, a rise of 20 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCRN at https://www.zacks.com/ap/CCRN


Keywords: Cross Country Healthcare, Earnings Report