US healthcare staffing specialist Cross Country Healthcare has seen a “solid” start to the year with revenue up 6% for the first quarter ended 31 March 2016, according to financial results. 

The results, published this morning, reveal the group posted revenue of $196.6m (£135.9m) compared with $186m [for the same quarter in 2015?], up 6% year-on-year.

Commenting on the group’s performance, president and chief executive William Grubbs said group revenue growth has been in line with expectations and exceeded guidance for gross profit margin.

“Overall, we had a solid start to the year that keeps us on track for our full-year guidance, as well as our adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) targets of 8% by the fourth quarter of 2017 and 10% by the fourth quarter of 2019,” Grubbs added.

Cross Country Healthcare Q1 results at a glance:

• adjusted EBITDA was $8.5m versus $6.2m, an increase of 38% over the prior year
• adjusted EBITDA margin was 4.3%, up from 3.3% in the prior year, a 100 basis point improvement
• adjusted earnings per share (EPS) was $0.09 compared to $0.03 in the prior year
• cash flow from operations was $2.6m compared to $0.3m in the prior year