Allscripts Healthcare Solutions, Inc. (MDRX: Quote) Wednesday said its second-quarter profit declined, due primarily to higher costs. The company also lifted its adjusted earnings outlook for the fiscal year 2012. Following the announcement, the share prices rose 9.37 percent in the after-market hours.
Net income for the quarter decreased to $8 million or $0.04 per share from $15.9 million or $0.08 per hare in the same period last year.
Adjusted earnings were $29.3 million or $0.16 per share, compared to $42.5 million or $0.22 per share last year.
On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimate typically exclude special items.
Revenues totaled $370 million, up from $356.8 million last year. Analysts expected revenues of $369.98 million.
Cost of revenues increased to $212.5 million from $189 million last year.
Looking ahead to the fiscal year 2012, the company lifted its adjusted earnings outlook to a range of $0.77 to $0.83 per share. This compares to the previous guidance range of $0.74 to $0.80 per share.
The company continues to expect adjusted revenues to range between $1.48 billion and $1.52 billion.
Analysts, based on consensus, currently expect the company to report full-year earnings of $0.74 per share on revenues of $1.50 billion.
Allscripts Healthcare closed Wednesday's regular trade at $9.60, up 3.90%. Shares rose 9.37% to $10.50, gaining $0.90, in the after-market extended trade on the Nasdaq.
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by RTT Staff Writer
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