This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Athenahealth, Inc. Reports First Quarter Fiscal Year 2013 Results

Stocks in this article: ATHN

Q1 2013 Financial Results

  • 30% Revenue Growth Over First Quarter of 2012
  • 24% Revenue Growth Over First Quarter of 2012 Excluding Epocrates
  • Non-GAAP Adjusted EBITDA of $17.6 million
  • GAAP Net Income of $0.7 million or $0.02 Per Diluted Share
  • Non-GAAP Adjusted Net Income of $14.2 million, or $0.38 Per Diluted Share

WATERTOWN, Mass., May 2, 2013 (GLOBE NEWSWIRE) -- athenahealth, Inc. (Nasdaq:ATHN) (the "Company," "we," or "athenahealth"), a leading provider of cloud-based electronic health record ( EHR), practice management, and care coordination services to medical groups and health systems, today announced financial and operational results for the first quarter of fiscal year 2013. The Company will conduct a conference call tomorrow May 3, 2013, at 8:30 a.m. Eastern Time to discuss these results and management's outlook for future financial and operational performance.

Total revenue for the three months ended March 31, 2013, was $125.6 million, compared to $96.6 million in the same period last year, an increase of 30%. Total revenue for the three months ended March 31, 2013 includes Epocrates revenue of $5.5 million from the acquisition date of March 12, 2013 to the period ended March 31, 2013. Excluding the Epocrates revenue of $5.5 million, core athenahealth revenue was $120.1 million, an increase of 24% over Q1 2012.

"Delivering value by making health care work as it should is our focus. We're no longer just taking on administrative work. Our expanding set of services connects clients to non-clients across the cloud-based health information backbone we've built. We make it possible for historically incompatible systems to communicate and we're changing the game when it comes to access to influential clinical content," said Jonathan Bush, the Company's Chairman and Chief Executive Officer. "With the acquisition of mobile clinical app leader Epocrates, we're now front-and-center for caregivers across the country. And with our launch of athenaClarity, we've activated patient population surveillance and management. And our relationship with clients and prospects has matured as well. We're evolving from a disruptor into a known and trusted source - a partner that helps providers thrive through change."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs