The stock value of hospital information systems vendor Eclipsys Corp. rose 9% in early trading on Feb. 19 after the company exceeded profit expectations for the fourth quarter of 2009.
Atlanta-based Eclipsys in the fourth quarter had net income of $3.8 million, 14.6 percent higher than during the same period a year ago. Adjusted earnings per share of 17 cents beat analyst expectations by a nickel. Quarterly revenue rose 5.4 percent to $133.7 million.
For all of 2009, Eclipsys had net income of $2.7 million, compared with $99.5 million in 2008 that included a tax benefit of $85.5 million. Operating income for both years was identical at $9.4 million. Revenue throughout 2009 totaled $519.2 million, up 0.7 percent. Systems and services rose 2.7 percent while revenue from hardware dropped 49.7 percent. Vendors increasingly during 2009 have seen their hardware revenue fall as customers seek lower-cost alternatives.
More information is available at eclipsys.com.
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