Allscripts Healthcare Solutions, Inc. (MDRX) announced its financial results for the three and nine months ended September 30, 2010.
Third quarter total bookings of $215.9 million, including legacy Allscripts (MDRX) bookings of $112.0 million
Deutsche Bank is reiterating its Hold rating and $19.50 price target on Allscripts Healthcare Solutions Inc (NASDAQ: MDRX), after it reported earnings.
Shares were down 1.9% at $19 in recent after-hours trading as revenue fell well short of analysts' expectations. The stock has retreated 4.3% this year.
The company said its net income fell to $1.4 million, or a penny per share, from $12.9 million, or 9 cents per share, a year earlier. Revenue rose 47 percent to $242.4 million from $164.9 million.
Excluding one-time items, the company said it earned 19 cents per share. The company expects fourth-quarter adjusted profit between 18 cents and 19 cents per share and, for all of fiscal 2010, between 73 cents and 74 cents per share. The company expects 2011 profit between 85 cents and 89 cents per share.
In spite of the recent loss Allscripts Healthcare (MDRX) looks to build on its development and reach higher levels of growth and profits soon.
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Disclosure: "No Positions"