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Glen Tullman, Chief Executive Officer said,"Allscripts posted solid results this quarter across all of our key metrics. Our results are a reflection of a successful merger, a focused effort on the processes critical to our growth, and great execution by our team. " The Chicago, Illinois-based company posted a first quarter net income of $12.9 million or $0.09 per share, compared to $5.4 million or $0.06 per share in the same quarter last year. On a non-GAAP basis, net income was $22.2 million, compared to $14.8 million in the year ago quarter. On a per share basis, non-GAAP net income declined to $0.15 per share from $0.18 per share in the prior year quarter, on a higher share count for the current quarter. On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.14 per share for the quarter. Analysts estimates typically exclude special items. In the preceding fourth quarter, the company posted a net income of $13.4 million or $0.09 per share, compared to $10.9 million or $0.13 per share in the year ago period. Non-GAAP net income for the quarter was $23.5 million or $0.16 per share, compared to $17.4 million or $0.22 per share last year. Total revenue for the quarter under review was $164.9 million, compared to $92.8 million in the comparable quarter last year. On a non-GAAP basis, revenue was $167.5 million, compared to non-GAAP revenue of $164.7 million a year ago. Analysts expected the company report revenue of $166.89 million for the quarter. Revenue from System sales was $33.5 million, compared to $13 million a year back. Professional services revenue was $15.9 million, compared to $7.4 million last year. Maintenance revenue increased to $59.4 million from $36.7 million in the previous year, while Transaction processing and other revenue rose to $56.1 million from $35.7 million. Gross margin for the quarter was 54.0%, compared to 53.9% for the same period a year earlier. In the fourth quarter, Allscripts reported revenues of $166.2 million, compared to $97.1 million a year back. Non-GAAP revenue was $168.8 million, compared to $174.8 million last year. MDRX closed Tuesday's regular trading on the Nasdaq at $19.39, up $0.43 or 2.27%. After hours, the stock lost $0.19 or 0.98%. In the past 52-week period, the stock has traded in the range of $19.03 - $19.85, with an average 3-month volume of 1.32 million shares. For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
For full details on Allscripts Healthcare Solution (MDRX) click here. Allscripts Healthcare Solution (MDRX) has Short Term PowerRatings of 4. Details on Allscripts Healthcare Solution (MDRX) Short Term PowerRatings is available at This Link.
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