Cross Country Healthcare Announces First Quarter 2021 Financial Results

About this update from Cross Country Healthcare, Inc.

[{"type":"text","content":" BOCA RATON, Fla.--(BUSINESS WIRE)--\nCross Country Healthcare, Inc. (the \"Company\") (Nasdaq: CCRN) today announced financial results for its first quarter ended March 31, 2021.\n\nSELECTED FINANCIAL INFORMATION:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nVariance\n\n\n\nVariance\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nQ1 2021 vs\n\n\n\nQ1 2021 vs\n\n\n\n\n\nDollars are in thousands, except per share amounts\n\n\n\nQ1 2021\n\n\n\nQ1 2020\n\n\n\nQ4 2020\n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n329,241\n\n\n\n \n\n\n\n \n\n\n\n57\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n53\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n\n\nGross profit margin*\n\n\n\n21.7\n\n\n\n \n\n\n\n%\n\n\n\n(190\n\n\n\n)\n\n\n\n \n\n\n\nbps\n\n\n\n(350\n\n\n\n)\n\n\n\n \n\n\n\nbps\n\n\n\n\n\nNet income attributable to common shareholders\n\n\n\n$\n\n\n\n19,448\n\n\n\n \n\n\n\n \n\n\n\n1,031\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n322\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.53\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.59\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.40\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA*\n\n\n\n$\n\n\n\n26,733\n\n\n\n \n\n\n\n \n\n\n\n480\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n132\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin*\n\n\n\n8.1\n\n\n\n \n\n\n\n%\n\n\n\n590\n\n\n\n \n\n\n\n \n\n\n\nbps\n\n\n\n280\n\n\n\n \n\n\n\n \n\n\n\nbps\n\n\n\n\n\nAdjusted EPS*\n\n\n\n$\n\n\n\n0.58\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.59\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.39\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nCash flows used in operations\n\n\n\n$\n\n\n\n(24,927\n\n\n\n)\n\n\n\n \n\n\n\n(245\n\n\n\n)\n\n\n\n \n\n\n\n%\n\n\n\n(1,392\n\n\n\n)\n\n\n\n \n\n\n\n%\n\n\n\n\n\n\n* Refer to accompanying tables and discussion of non-GAAP (Generally Accepted Accounting Principles) financial measures below.\n\n\n\n\n“We entered the year on a very positive trajectory, with solid execution, higher productivity, and exceptional performance,\" said Kevin Clark, Co-founder and Chief Executive Officer for Cross Country Healthcare. He continued, \"This was the single largest revenue quarter in our Company's history and was fueled by our passionate, tireless efforts to deliver the critical professionals needed across the country.\"\n\nFirst quarter consolidated revenue was $329.2 million, an increase of 57% year-over-year and 53% sequentially. Consolidated gros...

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