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AMN Healthcare Announces Fourth Quarter and Full Year 2008 Results
Date:2/26/2009

Revenue up 5% over prior year; annual, quarterly results within company guidance

SAN DIEGO, Feb. 26 /PRNewswire-FirstCall/ -- AMN Healthcare Services, Inc. (NYSE: AHS) today announced operating results within guidance for the fourth quarter and full-year 2008. Highlights include:

  • Full year 2008 revenue of $1.22 billion, up 5% over prior year
  • Full year 2008 pro forma diluted EPS of $1.06 compared to $1.04 in prior year, GAAP diluted EPS of $1.02 compared to $1.04
  • Full year gross margin of 26.0%, unchanged from prior year
  • Q4 2008 revenue of $296 million, up 3% over last year
  • Q4 2008 pro forma diluted EPS of $0.24 compared to $0.25 last year, GAAP diluted EPS of $0.23 compared to $0.25
  • Q4 2008 cash flow from operations of $14 million, full year 2008 of $64 million

"Today, AMN Healthcare is growing market share, making investments in the future, and maintaining our strong cash flow and a healthy balance sheet in the economic downturn," said Susan R. Nowakowski, President and Chief Executive Officer of AMN Healthcare. "Our strategy of leveraging the advantages of our size, leadership position, differentiated business model and diversified service lines will allow us to continue outperforming our competitors. It was the execution of this strategy and the dedication of our employees that allowed AMN to increase market share and achieve record revenue and EBITDA results in 2008.

"While not as impacted as many other sectors, the slowing economic conditions and higher unemployment have negatively impacted demand for our services, most notably in nurse staffing," Nowakowski added. "During the first quarter of 2009, we have taken several steps to align our business infrastructu
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SOURCE AMN Healthcare Services, Inc.
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