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Allscripts Reports Third Quarter 2007 Results
Date:11/8/2007

"Allscripts made solid progress in the third quarter with record clinical software sales of $63.2 million, including two of the largest agreements in our history -- Columbia University Medical Center, one of the world's most prestigious academic medical centers, and Lahey Clinic, the nation's first multi-specialty group practice," said Glen Tullman, Chief Executive Officer of Allscripts. "Sales in our clinical software businesses grew 77 percent over last year, confirming both the acceleration in the market and Allscripts continuing leadership."

Total revenue for the nine months ended September 30, 2007 was $208.5 million, compared to $164.4 million for the same period last year. Revenue from software and related services for the nine months ended September 30, 2007 was $164.9 million, compared to $124.6 million for the same period last year, increasing by 32.4%.

Gross margin percentage was 50.1% for the first nine months of 2007, compared to 49.8% during the same period of 2006.

Net income for the nine months ended September 30, 2007 nearly doubled year-over-year to $14.6 million, or $0.25 per diluted share, compared to net income of $7.4 million, or $0.14 per diluted share, for the same period last year. Reported net income for the nine months ended September 30, 2007 and 2006 reflects deal-related amortization of $4.7 million, or $0.07 per diluted share, net of tax, and $4.8 million, or $0.09 per diluted share, net of tax, respectively, and total stock-based compensation of $1.7 million or $0.03 per diluted share, net of tax, and $0.9 million, or $0.02 per diluted share, net of tax, respectively. Non-GAAP adjusted earnings for the nine months ended September 30, 2007 were $21.0 million, or $0.35 per diluted share, compared to non-GAAP adjusted earnings of $13.1 million, or $0.25 per diluted share for the same period last year.

Outlook

Allscripts has updated its revenue target for the full year 2007 to a range of $286 million to $2
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SOURCE Allscripts Healthcare Solutions, Inc.
Copyright©2007 PR Newswire.
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