AMN Healthcare Services Inc. (AMN) reported a decrease in its first quarter profits compared to the same period in the previous year, but still managed to exceed Wall Street projections.
The company noted a net income of $17.33 million or earnings of $0.45 per share, a serious slump compared to the substantial $84.11 million profit or $2.02 per share noted in next year's inaugural quarter.
Upon exclusion of certain items, the adjusted earnings of AMN Healthcare Services Inc. were reported at $37.23 million or $0.97 per share for the given period. These figures surpassed the expectation of industry analysts who on average predicted earnings of $0.96 per share. Noteworthy, these estimates typically set aside special items.
In terms of revenue for the quarter, the company experienced a significant 27.4% decrease, plummeting to $0.82 billion from $1.13 billion in the previous year.
In an essence, AMN Healthcare Services Inc.'s GAAP earnings overview indicates that Q1 earnings were $17.33 million against last year's $84.11 million. Likewise, this year Q1 saw EPS earnings of $0.45 per share compared to last year's $2.02. Revenue for Q1, similarly, fell to $0.82 billion from $1.13 billion in the last year.
