Allscripts Q2 bookings up 9 percent
August 8, 2014 in Medical Technology
Allscripts announced its second quarter financial results on Thursday, and bookings were strong: $234 million, up 9 percent compared with Q2 2013.
For the first six months of 2014, bookings totaled $457 million – an increase of 17 percent compared with the first half of 2013.?
The second quarter successes come thanks to sales of the Allscripts Sunrise electronic health record platform to new clients in the U.S. and abroad, company officials note, as well as client demand for enhancements across the entire Allscripts product portfolio.
Allscripts officials point out that the market is strong for population health management tools and managed IT services such as remote hosting and outsourcing.?
In Q2 2014, bookings, revenue and adjusted EBITDA all grew year-over-year for the first time in more than two years. Client renewals were also strong in the quarter, according to Allscripts.
Total revenue increased 2 percent on a non-GAAP and GAAP basis (to $354 and $351 million, respectively) compared to the same period last year. Total operating expenses, meanwhile, declined 6 and 9 percent on a non-GAAP and GAAP basis, respectively, year-over-year.
“We had a strong quarter that reflects the impact of a consistent focus on client execution,” said Paul M. Black, president and CEO of Allscripts, in a press statement. “We have strengthened our core clinical and revenue cycle solutions, partnered with our clients to achieve their meaningful use 2 objectives, solidified our leadership in growth markets like population health management and have moved aggressively to become more operationally efficient.”
Highlights of Q2 2014 include: