Physician software vendor Allscripts has reported strong revenue and profit growth in the fourth quarter of fiscal 2010, along with financial guidance for fiscal 2011 that are nearly in line with analyst expectations.
Chicago-based Allscripts had net income for the fourth quarter, ended May 31, of $15.7 million, up 17 percent compared with the same period a year ago. Earnings per share of 18 cents beat expectations by a penny. Quarterly revenue rose 14 percent to $190.3 million, besting expectations of $185.3 million.
For all of fiscal 2010, Allscripts had net income of $62.9 million, a 142 percent increase over 2009. Annual revenue rose 28 percent to $704.5 million.
On a standalone basis that excludes the affect of its pending acquisition of Eclipsys Corp. and reduced ownership interest by Misys plc, Allscripts expects fiscal 2011 revenue of $780 to $790 million. That's in the range but just shy of analyst expectations of $787.2 million, according to Barrons. Projected net income of $92.5 to $95.5 million equates to earnings per share of 77 to 79 cents, meeting or exceeding the expected 77 cents.
More information is available at allscripts.com.
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