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AMN Healthcare Announces Third Quarter 2008 Results and Updates Full Year Guidance
Date:10/30/2008

SAN DIEGO, Oct. 30 /PRNewswire-FirstCall/ -- AMN Healthcare Services, Inc. (NYSE: AHS) today announced operating results for the third quarter of 2008. Highlights include:

-- Revenue of $315 million, up 5% over last year and 1% over last quarter

but slightly below Company guidance.

-- Revenue growth primarily driven by year-over-year volume increases in

the Company's two largest segments, Nurse & Allied and Locum Tenens.

-- EPS of $0.28, up 12% over last quarter, down 20% from last year,

primarily due to certain non-recurring expenses and a tax adjustment

during this quarter. These results were $0.03 below guidance.

-- Free cash flow of $19 million as days sales outstanding improved by 2

days from last quarter to 56 days in the third quarter. Cash flow from

operations was $21 million.

"While the healthcare staffing industry is not insulated from the impact of our nation's economic uncertainties, we do believe our industry leadership position and our diversified strategy is enabling AMN to deliver solid results that will translate into an even stronger market position in the future. While we are disappointed to be reporting operating performance slightly below our previous higher growth expectations, we do believe these results are more than respectable given the worsening financial and employment environment and the lower patient admissions and procedures reported by the healthcare industry," said Susan R. Nowakowski, President and Chief Executive Officer of AMN Healthcare. "We were especially pleased with our largest business line of travel nurse staffing, where we experienced year-over-year and sequential revenue growth and likely the most signif
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SOURCE AMN Healthcare Services, Inc.
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