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Poor 4th Quarter Performance for Allscripts

Published
  • February 19 2013, 6:33pm EST

Bookings and revenue in the fourth quarter of 2012 fell sharply for Allscripts Healthcare Solutions compared with the last quarter of 2011, and a quarterly net profit of $26 million a year ago turned into a $24.3 million loss for the last three months of 2012.

Allscripts also announced in a Securities and Exchange filing that it will close 12 offices and a warehouse. “The company is also implementing changes to corporate operating models intended to reduce costs associated with product solutions development,” according to the filing. Allscripts estimates employee severance costs of $10 million, relocation costs up to $16 million, and lease exit costs of about $3 million. The company did not name the affected offices but expects to complete the closures by the end of 2013.

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