Revenue From Software and Related Services Up 200% Over Prior Year
CHICAGO, Oct. 26 /PRNewswire-FirstCall/ -- Allscripts Healthcare Solutions (Nasdaq: MDRX), the leading provider of clinical software, connectivity and information solutions that physicians use to improve healthcare, announced its results for the three and nine months ended September 30, 2006. Total revenue for the three months ended September 30, 2006, was $62.2 million, compared to $30.6 million for the same period last year. Total revenue for the three months ended September 30, 2006 includes the results of A4 Health Systems, Inc., which Allscripts acquired on March 2, 2006. Revenue from software and related services for the three months ended September 30, 2006, was $49.5 million, compared to $16.5 million for the same period last year, increasing by approximately 200%. (Logo: http://www.newscom.com/cgi-bin/prnh/20061005/ALLSCRIPTSLOGO-b ) Gross margin percentage was 49.1% for the third quarter of 2006, compared to 43.3% during the third quarter of 2005. Net income for the three months ended September 30, 2006, was $3.3 million, or $0.06 per diluted share, compared to net income of $2.9 million, or $0.07 per diluted share, for the same period last year. Reported net income for 2006 reflects stock-based compensation pursuant to Allscripts' adoption of new accounting rules effective as of January 1, 2006, and reflects tax provisioning and acquisition related amortization not included in prior periods. In order to facilitate further comparison of results against periods prior to January 1, 2006, Allscripts began reporting cash earnings in 2006. Cash earnings are comprised of net income giving effect to the add-back of income taxes, depreciation and amortization, stock- based compensation and one-time A4 Health Systems integration costs. Cash earnings for the three months ended September 30, 2006 were $10.4 million, or $0.19 per diluted share, compared to cash earnings of $4.6 million, or $0.10 per diluted share, for the same period last year. Please see "Financial Measures" below for a discussion of cash earnings and cash earnings per share. As of September 30, 2006, the Company had cash and marketable securities of $71.5 million. "Strong demand for Electronic Health Records and our entire suite of solutions continues to drive impressive results for Allscripts," said Glen Tullman, Chief Executive Officer of Allscripts. "Physicians and healthcare organizations increasingly understand that technology is the answer to the challenges facing our health system, and Allscripts has demonstrated that we provide solutions that physicians use to deliver improved patient safety, quality of care, and bottom line benefits." Total revenue for the nine months ended September 30, 2006, was $164.4 million, compared to $86.4 million for the nine months ended September 30, 2005. Revenue from software and related services for the nine months ended September 30, 2006, was $124.6 million, compared to $46.9 million for the same period last year, increasing by approximately 166%. Total revenue for the nine months ended September 30, 2006 includes the results of A4 Health Systems from the acquisition date of March 2, 2006 through the end of the third quarter of 2006. Gross margin percentage was 49.8% for the nine months ended September 30, 2006, compared to 45.5% for the nine months ended September 30, 2005. Net income for the nine months ended September 30, 2006, was $7.4 million, or $0.14 per diluted share, compared to net income of $6.3 million, or $0.15 per diluted share, for the same period last year. Cash earnings for the nine months ended September 30, 2006 were $26.6 million, or $0.51 per diluted share, compared to cash earnings of $11.1 million, or $0.26 per diluted share, for the same period last year.
Market Data 
Markets 
AI
