Allscripts Healthcare Solutions Thursday announced its preliminary financial results for the second quarter ended June 30.
The Chicago-based electronic health-record vendor expects record second-quarter bookings in a range of $255 million to $260 million. Bookings grew between 9% and 12% year-over-year and experienced a 6% year-over-year growth.
Allscripts expects preliminary Q2 2015 revenue to land in a range of $350 million to $353 million. That compares with total revenue of $351 million in the second quarter of 2014, and an uptick from $335 million in the first quarter of 2015.
"Our strong preliminary results across all key financial metrics reflect continued improvement in Allscripts execution across the enterprise on behalf of our clients," Allscripts President and CEO Paul Black said in a statement.
Sales growth in the second quarter accelerated over first-quarter sales based on improved performance in acute-care and international markets, Black said. Ambulatory solutions and growth in Allscripts payer and life-sciences businesses helped drive year-over-year bookings growth. Revenue improved on a sequential basis, driven by growth in both recurring and non-recurring revenue, he said.
The company expects second quarter 2015 non-generally accepted accounting principles (GAAP) earnings per share to be approximately $0.12, compared with $0.09 in the second quarter of 2014. Second quarter 2015 GAAP loss per share is expected to be approximately $0.01, compared with a loss per share of $0.09 in the second quarter of 2014.
Preliminary results for the second quarter of 2015 exceeded first-call consensus estimates for revenue, adjusted earnings before interest, tax, depreciation and amortization, and GAAP and non-GAAP earnings per share.
Allscripts has struggled for some time to deliver top and bottom line growth. But the company, which is ranked No. 2 behind Epic Systems in the EHR vendor market, is competing to replace the EHRs at the Military Health System, a global network of 56 hospitals and about 360 clinics.
Other competitors include Cerner Corp. The contract could be awarded by the end of this summer and has been valued at $13 billion, even though the Department of Defense has argued that amount is overblown.
Allscripts also recently made news by partnering with Dr. Patrick Soon-Shiong's NantHealth precision-medicine startup, which plans to go public by year-end. The two companies hope to collaborate on a precision-medicine platform for cancer care.
