The GAAP financial measures most directly comparable to each non-GAAP financial measure used, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release following the condensed financial statements.
Fiscal 2013 Outlook
Greenway Medical Technologies believes that its revenue will grow by 20% to 26% for the 12 months ended June 30, 2013, from fiscal 2012 actual results, while achieving gross margin and adjusted EBITDA margin improvement. The following table summarizes the Company’s outlook for fiscal 2013:
|Revenue||$149 million to $156 million|
|Gross Profit||$83 million to $89 million|
|Margin||56% to 57.0%|
|Operating Income||$8 million to $10 million|
|Effective Tax Rate||40%|
|Net income||$4.8 million to $6.1 million|
|GAAP EPS||$0.15 to $0.20|
|Adjusted EBITDA||$19.3 million to $23.4 million|
|Margin||13.8% to 14.4%|
|Adjusted EPS||$0.27 to $0.31|
Conference CallGreenway will host a conference call today, Wednesday, August 29, 2012, at 5 p.m. Eastern time to discuss the Company's earnings and other information. The call can be accessed by dialing (866) 270-6057 or (617) 213-8891 for international calls. The participant code is 59550481. For listen-only mode, participants should go to the Investors section of www.greenwaymedical.com prior to the call to register and download the necessary audio software. An audio replay will be posted following the call and will be available from approximately 7 p.m. Eastern on August 29 through 11:59 p.m. Eastern on September 5. The replay will be accessible through a link on www.greenwaymedical.com/investors or by calling (888) 286-8010 or internationally (617) 801-6888. Replay code is 70349477. About Greenway and PrimeSUITE Greenway Medical Technologies, Inc. (NYSE: GWAY) delivers smarter solutions for smarter healthcare ™. PrimeSUITE ® — Greenway’s certified and fully integrated electronic health record, practice management and interoperability solution — helps improve care coordination, quality and cost-efficiency as part of a smarter, sustainable healthcare system. Thousands of providers across 30 specialties and sub-specialties use on-premise or cloud-based Greenway ® solutions in physician practices, clinics and health systems. To learn more, go to greenwaymedical.com, Twitter, Facebook and YouTube, or email firstname.lastname@example.org . Forward-Looking Statements In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the company’s financial condition, growth strategy, business development efforts, service offerings, and service delivery models. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the company’s future performance include, but are not limited to, risks detailed in Greenway’s most recent S-1/A filed with the Securities and Exchange Commission and, in particular, our ability to adapt to evolving technology and industry standards; our ability to implement our growth strategy; our ability to retain management and other qualified personnel; failure to prevent disruptions in service or damage to our third-party providers’ data centers; failure to avoid liability for the use of content we provide; regulation of the healthcare information technology industry; our ability to ensure our solutions meet industry and government standards; failure to maintain adequate security measures for our customers’ confidential information and personal identifiable information and their patients’ protected health information; our ability to obtain new provider clients; failure of the HITECH Act and other incentive programs to be fully implemented or funded by the government; our ability to implement our strategic relationships as currently intended; failure to establish, protect or enforce our intellectual property; restrictions in our credit facility and future indebtedness. The company disclaims any obligation or duty to update or modify these forward-looking statements.