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Allscripts Healthcare Solutions Management Discusses Q2 2012 Results - Earnings Call Transcript

This presentation will contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events and developments, the company's future performance as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, including factors outlined from time to time in our most recent report on Form 10-K, our earnings announcements and other reports we file with the Securities and Exchange Commission. These are available at www.sec.gov. The company undertakes no obligation to update publicly any forward-looking statement whether as a result of new information, future events or otherwise.

And with that complete, I'd now like to turn the call over to Glen Tullman, Allscripts' CEO. Glen?

Glen E. Tullman

Thanks, Seth. Good afternoon. Thank you for joining us on our second quarter 2012 earnings call. I'll begin with the highlights of our results and our focus on operating performance. Dave Morgan, our interim Chief Financial Officer, will then provide more detail and review our guidance.

Our second quarter results demonstrate progress in several key areas and opportunities for improvements and others. I'm confident we are moving in the right direction.

Looking at the highlights, bookings reflect an improvement in mix versus the first quarter. Specifically, we had strong results in the mid-sized physician market with our professional Electronic Health Record solution. Total ambulatory bookings were also up significantly quarter-over-quarter. And we capitalized on key opportunities in the enterprise Electronic Health Record physician market, particularly through competitive replacements.

Our acute business also performed well. We closed 2 net new Sunrise Clinical Manager agreement, plus 1 footprint expansion with one of our larger clients. Revenue was also up sequentially and slightly year-over-year at approximately $371 million. Our non-GAAP operating margin increased over Q1, heading in the right direction, and we expect continued improvement in the second half of the year.

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