Cross Country Healthcare CEO Discusses Q3 2010 Results - Earnings Call Transcript
I am also pleased to note a long standing vendor managed account which left us earlier this year, we engaged us at the end of the September under the same terms that we had with them previously.
With respect to our vendor management service we have adopted a strategy to selectively offer this service to certain healthcare systems large hospitals and healthcare facilities that are geographically diverse and large uses of tempering Nurse and Allied Staffing services. To give you a sense of scale we have more than 500 FTEs’ currently working at our vendor managed accounts. As a result of our continued success in this area I am very optimistic that the sequential momentum we are seeing in the fourth quarter in this segment is likely to continue into the first quarter of 2011.
Turning to our position staffing business, well it has not yet shown signs of rebounding, there are indications that are stabilizing it and more or less following normal seasonal patterns. As such, position staffing revenue was up slightly on a sequential basis from the second quarter but we expect it would be a modest drop in the fourth quarter which is likely to offset the increasing activity in our nurse and allied staffing business during the quarter.
Keeping in mind given the shorter nature of contracts for local tenants, we tend to have less visibility in this business relative to our other staffing businesses. Meanwhile, our clinical staffing business appears to be turning the corner based on improved order levels and recent contract awards. In the fourth quarter we expect segment revenue to show modest year-over-year growth for the first time in two years as we move past the head wins of unfavorable comparison resulting from the phase out of contract research projects in the third quarter of 2009. In addition the pipeline of potential projects in this segment is encouraging as we look to our prospects in future quarters.Read the rest of this transcript for free on seekingalpha.com
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