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Athenahealth, Inc. Updates Fiscal Year 2012 Guidance And Initiates Guidance For Fiscal Year 2013

Stock quotes in this article: ATHN

athenahealth, Inc. (NASDAQ: ATHN) (the “Company”), a leading provider of cloud-based electronic health record ( EHR), practice management, and care coordination services to medical groups and health systems, today updated financial guidance for fiscal year 2012 and announced financial guidance for fiscal year 2013. The Company will host its Fifth Annual Investor Summit tomorrow, Thursday, December 6, 2012, starting at 8:30 a.m. Eastern Time to provide an update on the Company’s business and share management’s outlook for future financial and operational performance.

The Company’s fiscal year 2012 and 2013 guidance is presented below:

 
For the Fiscal Year Ending:
        December 31, 2012   December 31, 2013
GAAP Total Revenue       $420 - $425 million   $525 - $550 million
Non-GAAP Adjusted Gross Margin       62% - 63%   62% - 63%
Non-GAAP Adjusted Operating Income       $61 - $65 million   $75 - $82 million
Non-GAAP Adjusted Net Income per Diluted Share       $0.95 - $1.00   $1.15 - $1.25
GAAP Effective Tax Rate       45% - 46%   43% - 44%
       

“We believe that athenahealth’s business model of innovative, integrated cloud-based services is the platform of the future,” said Tim Adams, the Company’s Chief Financial Officer. “athenahealth is uniquely positioned to help medical care givers thrive in a rapidly changing and complex environment. We are excited about our growth opportunities and are pleased to present our ambitious expectations for fiscal year 2013. We continue to build plans that give us the opportunity to achieve our 30% annual top-line growth objective. Accordingly, we will continue to invest wisely towards achieving our growth objectives and look to deliver higher profitability and shareholder value over the long term.”

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