Allscripts posts 4Q profit as revenue climbs

Allscripts posts 4th-qtr profit without last year's loss on Eclipsys acquisition

Associated Press

CHICAGO (AP) -- Electronic health records company Allscripts Healthcare Solutions Inc. reported a fourth-quarter profit on Thursday, thanks in part to revenue rising across its businesses.

Allscripts said it earned $26 million, or 14 cents per share. It lost $6.2 million, or 3 cents per share, in the fourth quarter of 2010, on costs related to its purchase of competitor Eclipsys.

Excluding one-time costs, Allscripts said it earned 25 cents per share, which it said was 22 percent more than a year earlier. Its revenue rose 23 percent, to $388.2 million from $316.2 million.

The results were slightly better than analysts projected. On average, they forecast adjusted profit of 25 cents per share and $378.6 million in revenue, according to FactSet.

But Allscripts forecast 2012 earnings in a range below analysts' average forecast, and its shares fell $1.07, or 5 percent, after hours on Thursday. The shares had ended regular trading up 19 cents at $21.47.

Allscripts said its system revenue increased 14 percent to $66 million. Professional services revenue jumped 46 percent to $71.3 million and maintenance revenue rose 18 percent to $110.1 million. Transaction processing and other revenue grew 21 percent to $140.8 million.

The company said it booked $327.4 million in business during the quarter, up 26 percent from a year ago.

In 2011, Allscripts' profit jumped to $75.5 million, or 40 cents per share, from $26.8 million, or 17 cents per share. Revenue grew 55 percent, to $1.45 billion from $934.3 million.

For 2012, Allscripts expects adjusted earnings of $1.06 to $1.10 per share and revenue of $1.62 billion to $1.65 billion. Analysts are forecasting income of $1.10 per share on revenue of $1.62 billion, on average.

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