Allscripts revenues surge in Q1
Healthcare software and services provider Allscripts-Misys Healthcare Solutions saw revenues surge to $164.9 million in its fiscal first quarter (ending Aug. 31), up from $92.8 million reported in the same period a year ago.
The Chicago-based company, which formed last year after a unit of Allscripts merged into Misys, reported first quarter earnings of $12.9 million, more than doubling its earnings in the same period last year. The company reported a gross margin of 54 percent for the first quarter, compared with 53.9 percent for the same quarter a year ago.
Glen Tullman, CEO of Allscripts, credited the company’s “solid results” to a “successful merger, a focused effort on the processes critical to our growth, and great execution by our team. We're seeing strong demand for our products, even in advance of the federal stimulus incentives that we expect will accelerate adoption as we work towards our vision of transforming healthcare into a connected system of health."
The Chicago-based company, which formed last year after a unit of Allscripts merged into Misys, reported first quarter earnings of $12.9 million, more than doubling its earnings in the same period last year. The company reported a gross margin of 54 percent for the first quarter, compared with 53.9 percent for the same quarter a year ago.
Glen Tullman, CEO of Allscripts, credited the company’s “solid results” to a “successful merger, a focused effort on the processes critical to our growth, and great execution by our team. We're seeing strong demand for our products, even in advance of the federal stimulus incentives that we expect will accelerate adoption as we work towards our vision of transforming healthcare into a connected system of health."