Greenway Medical Technologies, Inc. (NYSE: GWAY), provider of the integrated electronic health record (EHR), practice management and interoperability solution PrimeSUITE®, today announced its financial results for the three and nine months ended March 31, 2012.
“We are very pleased with our third-quarter results. We believe these results demonstrate the significant momentum in the business, illustrate the leverage in our model and show the tangible results that revenue mix and our margin-improvement initiatives have on gross margins,” said Tee Green, Greenway® president and chief executive officer. “Our strategies for growth and innovation are expected to continue driving sustainable revenue, earnings and cash flow growth for 2012 and beyond.”
- Third-quarter and YTD total revenue was $32.9 million and $87.6 million respectively, representing increases of 52% and 45% over the respective year-ago periods.
- Third-quarter EPS of $0.06 per fully diluted share.
- Adjusted EBITDA was $4.0 million for the third quarter of FY2012. Adjusted EBITDA is a non-GAAP measure that is described and reconciled to net loss below and is not a substitute for the GAAP equivalent.
Operating ResultsRevenue for the three months ended March 31, 2012, was $32.9 million, a 52% increase as compared to revenue of $21.6 million for the three months ended March 31, 2011. For the nine months ended March 31, 2012, total revenue was $87.6 million, a 45% increase over revenue of $60.4 million for the year-ago period. Gross profit for the three months ended March 31, 2012, was $18.0 million, compared to $11.6 million for the three months ended March 31, 2011. Gross profit for the nine months ended March 31, 2012, was $46.3 million, compared to $32.2 million for the year-ago period. Cost of goods sold in third-quarter 2012 included $826,000 increased amortization of acquired technology and software development costs as various projects are now available for market.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV