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US Healthcare Recruiter Financials

US Healthcare Recruiter Financials

BOCA RATON USA - Medical Staffing Network Holdings, Inc. has reported revenue of $78.9 million for the third quarter of 2009, a decrease of 41.9% from the revenue of $135.8 million for the third quarter of 2008. The net loss for the third quarter of 2009 was $15.2 million, as compared with net income of $2.5 million, or $0.08 per diluted share, for the third quarter of 2008.

Commenting on the third quarters results, Robert J. Adamson, chairman and chief executive officer, stated, "The healthcare staffing industry is still
experiencing a difficult economic environment, although we are beginning to see some very early-stage positive trends. We have experienced an increase in demand in October, up from September levels, seemingly due to the flu pandemic. While we are by no means satisfied with our results, we believe we have clearly outperformed the other public companies we compete against in the areas of nursing and allied staffing. Our 42% decline in nursing and allied staffing revenues from the third quarter of 2008 to the third quarter of 2009 was significantly better than the decline in revenue of between 50 - 62% reported by our competitors. We attribute this gain in market share to our superior model, which blends per diem and local contract staffing of nursing and allied professionals with longer term contract travel solutions."

Revenues for the nine months ended September 27, 2009, were $265.2 million, a decrease of 37.5% from revenues of $424.1 million for the comparable prior year period. Net loss for the nine months ended September 27, 2009, was $20.0 million, as compared with a net loss of $49.4 million, for the comparable prior year period.

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