athenahealth books strong Q4, FY10
athenahealth, a developer of web-based business services for physician practices, announced positive financial results for the fourth quarter and full year of 2010, which ended Dec. 31, 2010.
Total revenue for the fourth quarter of 2010 was $69.37 million, compared with $54.45 million in the same period last year—an increase of 27 percent. Full year 2010 revenue was $245.54 million, compared with full year 2009 revenue of $188.53 million—an increase of 30 percent.
GAAP (generally accepted accounting principles) net income for the fourth quarter of 2010 was $7.3 million, compared with $4.33 million in the previous year’s fourth quarter, the Watertown, Mass.-based company said. For 2010, its GAAP net income was $12.7 million, compared with $9.28 million in 2009.
athenahealth managed to achieve these increases in income despite a jump in operating expenses, which totaled $56.83 million in the 2010 fourth quarter—a $10.5 million increase over the previous year’s fourth-quarter expenses. Likewise, year-over-year expenses rose more than $50.6 million.
Total revenue for the fourth quarter of 2010 was $69.37 million, compared with $54.45 million in the same period last year—an increase of 27 percent. Full year 2010 revenue was $245.54 million, compared with full year 2009 revenue of $188.53 million—an increase of 30 percent.
GAAP (generally accepted accounting principles) net income for the fourth quarter of 2010 was $7.3 million, compared with $4.33 million in the previous year’s fourth quarter, the Watertown, Mass.-based company said. For 2010, its GAAP net income was $12.7 million, compared with $9.28 million in 2009.
athenahealth managed to achieve these increases in income despite a jump in operating expenses, which totaled $56.83 million in the 2010 fourth quarter—a $10.5 million increase over the previous year’s fourth-quarter expenses. Likewise, year-over-year expenses rose more than $50.6 million.