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Eclipsys Stock Up Despite Profit Fall


May 6, 2008

Despite a steep drop in net income, hospital information systems vendor Eclipsys Corp. exceeded investment analyst expectations in the first quarter of 2008. Consequently, its stock price rose about 3.5% in early trading May 6 on the NASDAQ exchange.

Atlanta-based Eclipsys had net income of $290,000 during the quarter, compared with $2.4 million in net income during the same period last year. But excluding certain items, the company had income of $8.1 million, up 30%, and earnings per share of 15 cents beat expectations by a penny. The company had expenses of $9.8 million during the quarter covering such areas as stock-based compensation, relocating its headquarters, settling litigation, writing off acquired assets and a charge based on changes in estimated income taxes. It also recorded a $2 million gain from the sale of a subsidiary.

Quarterly revenue rose 10% to $124.4 million. Analysts had expected about $120.8 million in revenue. More information is available at eclipsys.com.

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