Q1 profit for Allscripts hikes past estimates
Q1 profit for Allscripts hikes past estimates

On Tuesday, the adjusted fiscal first-quarter profit was forwarded by electronic health records maker Allscripts-Misys Healthcare Solutions Inc., with the profit figures surpassing the Wall Street estimates.

The company reportedly witnessed its profit rising to $12.9 million, or 9 cents per share, from $5.4 million, or 6 cents per share a year ago. Allscripts-Misys earned 15 cents per share in the period ended Aug. 31, when one-time items were excluded.

The company's revenue touched $164.9 million from $92.8 million, and it specified that if a deferred revenue adjustment of $2.6 million is included, then the revenue came in at $167.5 million, compared with $164.7 million a year ago. The thing to note here is that $81.8 million in revenue from Allscripts, and a loss of $9.9 million after the sale of company's prepackaged medication business, were included in the adjusted result from a year ago.

Since analysts expected $166.9 million in revenue, it won't be wrong to say that their estimates typically exclude one-time items.

It was in October 2008 when an Allscripts subsidiary merged with U. K and gave brith to Allscripts-Misys.

"System sales more than doubled to $33.5 million from $13 million, professional services revenue grew to $15.9 million from $7.4 million, maintenance revenue increased to $59.4 million from $36.7 million, and transaction processing and other revenue rose to $56.1 million from $35.7 million," said the company.

While the company's shares hiked 2.3 percent to $19.39 during the regular session Tuesday, its stock lost 28 cents to $19.11 in after market trading.

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