Athenahealth issues full-year forecasts

Athenahealth says 2012 may meet expectations but 2013 earnings could fall short

Associated Press

WATERTOWN, Mass. (AP) -- Athenahealth Inc. said Wednesday that it expects its 2012 results will largely meet market expectations but 2013 earnings may fall short.

The electronic health record and practice management company said that it expects to earn 95 cents to $1 per share for the year, on an adjusted basis, on revenue of $420 million to $425 million. Analysts polled by FactSet forecast earnings of $1 per share on revenue of $423.8 million.

Athenahealth also expects to earn $1.15 to $1.25 per share for 2013 on revenue of $525 million to $550 million. Analysts forecast $1.28 per share on revenue of $542.2 million.

"We believe that athenahealth's business model of innovative, integrated cloud-based services is the platform of the future," Tim Adams, the company's chief financial officer, said in a statement.

Athenahealth made the announcement ahead of an annual investor meeting on Thursday.

Shares of the company, based in Watertown, Mass., fell 79 cents to $64.92 in after-hours trading.

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