posted a second-quarter loss as revenues dried up on contract delays, and the company said it is being sued by shareholders alleging securities fraud.
The company, which makes software for the health care industry, lost $3 million, or 7 cents a share, compared with a profit of $1.5 million, or 3 cents a share, a year ago. Excluding acquisition-related amortization, the company lost $1.7 million, or 4 cents a share, a penny better than the consensus estimate for a loss of 5 cents provided by Thomson Financial/First Call.
Revenue dropped to $54.3 million from $60 million as bookings plunged to $31.9 million from $101.8 million last year. In a press release, the company said it was "disappointed" with the low bookings number caused by contract delays.
In addition, Eclipsys revealed that the company and three of its officers have been named in a lawsuit filed by shareholders alleging that Eclipsys violated federal securities laws, while the company maintains that the claim is without merit. Eclipsys said it plans a "vigorous" defense against the allegations.
Shares of Eclipsys closed at $7.04 Monday before the news.