Allscripts Results Mixed, But Stock Soars
Allscripts reported modest revenue growth in the second quarter and missed expectations for profits, but raised financial guidance for the rest of the year and saw its stock price rise more than 18 percent in morning trades on August 9.
Allscripts reported modest revenue growth in the second quarter and missed expectations for profits, but raised financial guidance for the rest of the year and saw its stock price rise more than 18 percent in morning trades on August 9.
The vendor had quarterly revenue of $370 million, up 3.7 percent from the same period a year ago. Net income dropped 50 percent to $8 million, and non-GAAP earnings per share of 16 cents missed expectations by two cents.
Following a stock repurchase program, however, Allscripts was able to raise its earnings per share guidance for all of 2012 from 74-80 cents to 77-83 cents. That sent the stock, which closed August 8 at $9.60 a share, opening August 9 at $11.02 and climbing modestly higher during the morning.
The vendor had quarterly revenue of $370 million, up 3.7 percent from the same period a year ago. Net income dropped 50 percent to $8 million, and non-GAAP earnings per share of 16 cents missed expectations by two cents.
Following a stock repurchase program, however, Allscripts was able to raise its earnings per share guidance for all of 2012 from 74-80 cents to 77-83 cents. That sent the stock, which closed August 8 at $9.60 a share, opening August 9 at $11.02 and climbing modestly higher during the morning.
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