Net income increased substantially for physician software vendor Allscripts during the third quarter of fiscal 2010, as revenue rose at a double-digit clip.
The Chicago-based vendor had $18.5 million in net income during the quarter that ended on Feb. 28, up 39 percent compared with the same period last year. Third quarter revenue increased 12 percent to $179.9 million.
For the first nine months of fiscal 2010, Allscripts' net income was $47.2 million on revenue of $514.2 million. The results are not fully comparable to the prior year period, during which Allscripts closed its acquisition of Misys Healthcare Systems.
Allscripts has raised its revenue guidance for all of fiscal 2010 to $700-$705 million. Investment analysts had expected about $694.5 million. The company also raised its projected diluted earnings per share for fiscal 2010 to 64 to 65 cents; a penny or two above analyst expectations. More information is available at allscripts.com.
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