AMN Healthcare Services (AHS) has reported a 23.73 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $32.01 million, or $0.65 a share in the quarter, compared with $25.87 million, or $0.53 a share for the same period last year. On an adjusted basis, earnings per share were at $0.63 for the quarter compared with $0.60 in the same period last year. Revenue during the quarter grew 5.80 percent to $495.17 million from $468 million in the previous year period. Gross margin for the quarter expanded 21 basis points over the previous year period to 32.67 percent. Total expenses were 89.49 percent of quarterly revenues, down from 89.89 percent for the same period last year. This has led to an improvement of 40 basis points in operating margin to 10.51 percent.
Operating income for the quarter was $52.04 million, compared with $47.31 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $63.16 million compared with $58.69 million in the prior year period. At the same time, adjusted EBITDA margin improved 22 basis points in the quarter to 12.76 percent from 12.54 percent in the last year period.
"AMN Healthcare's capabilities as the leader and most comprehensive workforce partner within healthcare continues to set us apart in the marketplace and deliver strong results for our clients and shareholders," said Susan R. Salka, president and chief executive officer of AMN Healthcare. "Our solutions are helping clients in multiple ways to ensure they have the right talent when and where they are needed and to effectively manage their labor costs as they navigate new care delivery models and regulatory changes."
For the second-quarter 2017, Amn Healthcare Services projects revenue to be in the range of $486 million to $492 million.
Operating cash flow improves significantly
AMN Healthcare Services has generated cash of $52.31 million from operating activities during the quarter, up 48.51 percent or $17.09 million, when compared with the last year period. The company has spent $13.30 million cash to meet investing activities during the quarter as against cash outgo of $174.70 million in the last year period.
The company has spent $11.93 million cash to carry out financing activities during the quarter as against cash inflow of $152.97 million in the last year period.
Cash and cash equivalents stood at $37.71 million as on Mar. 31, 2017, up 63.21 percent or $14.60 million from $23.11 million on Mar. 31, 2016.
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