Stock Monitor: Intellicheck Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 28, 2018 / Active-Investors.com has just released a free earnings report on Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) ("Allscripts"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MDRX. The Company reported its fourth quarter fiscal 2017 operating and financial results on February 15, 2018. The electronic health records Company topped revenue estimates, while its earnings were in-line with market expectations. Additionally, the Company provided guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Allscripts Healthcare Solutions most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q4 2017, Allscripts' GAAP revenues surged 22% to $517.3 million compared to $425.4 million in Q4 2016. The Company's non-GAAP revenues totaled $546.8 million in the reported quarter, improving 27% compared to the year ago same period, and were ahead of analysts' expectations of $523.4 million.
For the full fiscal year ended December 31, 2017, Allscripts' GAAP revenues advanced 17% to $1.81 billion compared to $1.55 billion in FY16. The Company's non-GAAP revenues increased 17% to $1.84 billion on a y-o-y basis.
During Q4 2017, Allscripts' gross margin was 41.4% on a GAAP basis and 47.8% on a non-GAAP basis, compared to 43.8% and 48.1%, respectively, in Q4 2016. In the reported quarter, the Company's GAAP operating expenses were $219 million, reflecting a 35% increase on a y-o-y basis.
Allscripts recorded legal, transaction-related, and other costs of $24.8 million in Q4 2017 compared to $6.6 million in Q4 2016. The Company's non-GAAP operating expenses increased 27% to $186 million on a y-o-y basis in the reported quarter, primarily attributed to the acquisition of the Enterprise Information Solutions (EIS) business from McKesson Corp.
For Q4 2017, Allscripts reported a GAAP net income of $5.8 million, or $0.03 per share, compared to a GAAP net loss of $7.4 million, or $0.04 loss per share, in Q4 2016. The Company's non-GAAP net income came in at $33.0 million, or $0.18 per share, in the reported quarter versus $26.4 million, or $0.14 per share, in the prior year's comparable quarter. Allscripts' earnings numbers met Wall Street's estimates of $0.18 per share.
Allscripts' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) surged 28% to $107.1 million in Q4 2017 compared to $83.9 million in Q4 2016.
For FY17, Allscripts posted a GAAP net loss of $196.5 million, or $1.09 loss per share, compared to a net loss of $25.7 million, or $0.14 loss per share, in FY16. On a non-GAAP basis, the Company reported a net income of $0.62 per share, up 13% compared to $0.55 per share in FY16.
Allscripts' bookings were $314 million in Q4 2017 compared to $406 million in Q4 2016. For FY17, the Company's bookings totaled $1.31 billion, while contract revenue backlog totaled $4.6 billion as of December 31, 2017, up 15% on a y-o-y basis.
Allscripts' cash flow from operations totaled $106.2 million in Q4 2017 compared to $83.9 million in Q4 2016, due to strengthening business results. The Company's free cash flow surged 66% to $68.2 million in the reported quarter compared to $41.0 million in the year earlier corresponding quarter.
On February 15, 2018, the Company amended the Allscripts Credit Agreement, providing for an increase in available liquidity and tenor, as well as lower interest rates. The amendment provides a $400 million term loan and a $900 million revolving facility. This represents an increase in borrowing capacity of $500 million and the maturity date was extended to 2023.
For the full fiscal year 2018, Allscripts is forecasting non-GAAP revenues to be in the range of $2.15 billion and $2.25 billion, reflecting a growth of 17% to 22% versus FY17. The Company is estimating adjusted EBITDA to be in the band of $420 million and $460 million, up 12% to 23% on a y-o-y basis; while non-GAAP earnings per share are expected to be in the range of $0.72 to $0.82, representing an increase of 16% to 32% versus FY17.
Stock Performance Snapshot
March 27, 2018 - At Tuesday's closing bell, Allscripts Healthcare Solutions' stock fell 2.84%, ending the trading session at $11.97.
Volume traded for the day: 2.01 million shares, which was above the 3-month average volume of 1.99 million shares.
After yesterday's close, Allscripts Healthcare Solutions' market cap was at $2.19 billion.
The stock is part of the Technology sector, categorized under the Application Software industry.
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