Post-Earnings Analysis - Allscripts Healthcare Solutions
LONDON, March 26, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings analysis on Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX). On February 26, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX to read our free earnings review on Allscripts Healthcare Solutions Inc. (Allscripts). During Q4 FY14 and full-year FY14, the company reported total GAAP revenue of $340.9 million and $1.38 billion, respectively. Further, Allscripts' adjusted EBITDA improved 8% Y-o-Y in Q4 FY14 and 11% Y-o-Y in FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX
Earnings Overview
During Q4 FY14, Allscripts' total GAAP revenue fell 3% Y-o-Y from $351.0 million in Q4 FY13. The company's Q4 FY14 total GAAP revenue missed Bloomberg analysts' forecast of $357.4 million. Allscripts' total non- GAAP revenue came in at $343.2 million in Q4 FY14 compared to $353.6 million in Q4 FY13. Additionally, bookings in Q4 FY14 were down 11% to $244 million from $274 million in Q4 FY13. Free research on MDRX can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX
During Q4 FY14, Allscripts' GAAP gross margin was 40.0% compared with 39.4% in Q4 FY13. The company's adjusted EBITDA stood at $52.3 million for Q4 FY14 compared with $48.5 million in Q4 FY13.
In Q4 FY14, Allscripts reported GAAP net loss of $2.2 million, or $0.01 loss per diluted share, compared to GAAP net loss of $20.6 million, or $0.12 loss per diluted share, in Q4 FY13. Bloomberg analysts had expected GAAP net loss of $7.9 million, or $0.06 loss per diluted share, in Q4 FY14. However, Allscripts' Q4 FY14 non-GAAP net income improved to $16.9 million or $0.09 per diluted share from $14.0 million, or $0.08 per diluted share in Q4 FY13.
President and CEO of Allscripts, Paul M. Black, stated that the company's Q4 FY14 non-GAAP EPS increased despite a lack of revenue growth in the quarter. He informed that the company also generated strong operating cash flow in the Q4 FY14, which drove a significant improvement in free cash flow for FY14 compared with FY13. The investments the company made to improve its solutions are driving higher client satisfaction and positioning Allscripts for long-term growth, he added.
For FY14, Allscripts' total GAAP revenue improved $4.8 million Y-o-Y from $1.37 billion in FY13. The company's FY14 total GAAP revenue missed Bloomberg analysts' forecast of $1.40 billion. Allscripts' total non-GAAP revenue was $1.39 billion in FY14 compared to $1.38 billion in FY13. Furthermore, bookings during FY14 improved 2% Y-o-Y to $923 million. Sign up and read the free analyst's notes on MDRX at:
http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX
During FY14, the company's adjusted EBITDA stood at $199.0 million compared to $179.8 million in FY13. Allscripts reported GAAP net loss of $66.5 million, or $0.37 loss per diluted share, in FY14 compared to GAAP net loss of $104.0 million, or $0.59 loss per diluted share, in FY13. Bloomberg analysts had expected GAAP net loss of $70.3 million, or $0.36 loss per diluted share, in FY14. The company's non-GAAP net income increased to $56.3 million, or $0.31 per diluted share, in FY14 from $48.2 million, or $0.27 per diluted share, in FY13.
Mr. Black said the company is optimistic about the sustainability of several business trends creating a foundation of stability and a trajectory for growth and continued innovation. He further stated that the company achieved a healthy mix of add-on sales across Allscripts clients in FY14, reflecting the nearly half a billion dollars the company has spent on research and development over the last two years.
In its FY15 financial guidance, Allscripts expects revenue to be between $1.43 billion and $1.46 billion with adjusted EBITDA in the range of $230 million to $250 million. The company also anticipates FY15 non-GAAP diluted EPS to be between $0.42 and $0.50. Visit Investor-Edge and access the latest research on MDRX at:
http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX
Stock Performance
On the day following the earnings release, February 27, 2015, Allscripts' stock plummeted 5.84% to end the session at $12.01. Since then, the stock has moved both ways. On the last close, Wednesday, March 25, 2015, the company's shares finished 3.57% lower at $11.89, after vacillating between $11.89 and $12.32. A total of 1.52 million shares were traded which was below their three months average volume of 3.41 million shares. The stock has fallen by 1.33% in previous three trading sessions. Further, over the last one month and over the past three months, the company's shares have lost 6.93% and 7.61%, respectively.
Sneak Peek to Corporate Insider Trading
In the last one month, there were 13 corporate insider transactions done by five individuals. On March 06, 2015, a total of 29,081 shares have been disposed at an average price of $12.17 per share and for a total value of $353,916. The following are some transactions during the aforementioned day: Paul M. Black, sold 14,809 shares at an average price of $12.17 per share; Richard (Rick) J. Poulton, Chief Financial Officer at Allscripts, and Dennis Olis, Senior Vice President, Operations at Allscripts, disposed 5,950 and 3,798 shares, respectively, at an average price of $12.17 per share. Complimentary in-depth research on MDRX is available at:
http://get.Investor-Edge.com/pdf/?c=Allscripts%20Healthcare%20Solutions&d=26-Mar-2015&s=MDRX
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