AMN 2017 Annual Report

20 Fiscal Years Ended December 31, 2017 2016 2015 2014 2013 ( in thousands, except per share data) Consolidated Statements of Operations: Revenue $ 1,988,454 $ 1,902,225 $ 1,463,065 $ 1,036,027 $ 1,011,816 Cost of revenue 1,344,035 1,282,501 993,702 719,910 714,536 Gross profit 644,419 619,724 469,363 316,117 297,280 Operating expenses: Selling, general and administrative 399,700 398,472 319,531 232,221 218,233 Depreciation and amortization 32,279 29,620 20,953 15,993 13,545 Total operating expenses 431,979 428,092 340,484 248,214 231,778 Income from operations 212,440 191,632 128,879 67,903 65,502 Interest expense, net, and other 19,677 15,465 7,790 9,237 9,665 Income before income taxes 192,763 176,167 121,089 58,666 55,837 Income tax expense 60,205 70,329 39,198 25,449 22,904 Net income $ 132,558 $ 105,838 $ 81,891 $ 33,217 $ 32,933 Net income per common share: Basic $ 2.77 $ 2.21 $ 1.72 $ 0.71 $ 0.72 Diluted $ 2.68 $ 2.15 $ 1.68 $ 0.69 $ 0.69 Weighted average common shares outstanding: Basic 47,807 47,946 47,525 46,504 45,963 Diluted 49,430 49,267 48,843 48,086 47,787 As of December 31, 2017 2016 2015 2014 2013 (in thousands) Consolidated Balance Sheet Data: Cash and cash equivalents $ 15,147 $ 10,622 $ 9,576 $ 13,073 $ 15,580 Total assets 1,253,957 1,186,881 880,432 680,731 604,288 Total notes payable, including current portion, less unamortized discount and fees 319,843 362,942 135,990 143,190 147,347 Total stockholders’ equity 562,527 449,383 347,860 256,581 217,742