Allscripts Announces Third Quarter 2013 Results

CHICAGO, Nov. 7, 2013 /PRNewswire/ — Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) (“Allscripts” or the “Company”) today announced financial results for the three and nine months ended September 30, 2013.

Third Quarter Highlights:

“We accomplished several important objectives during the third quarter, including quarterly bookings growth of 46 percent over Q3 2012, as well as drove significant client renewals and agreement expansions,” said Paul M. Black, President and Chief Executive Officer of Allscripts.  “We are delivering on client commitments and have substantial work underway for MU2 and ICD-10 upgrades.”

Mr. Black continued, “The Allscripts OPEN Connected Community platform provides us with competitive differentiation and has enabled us to take a leadership position within accountable care and population health management.  Approximately 40 percent of third quarter bookings came from Population Health Management solutions demonstrating our clear industry leadership in this important, growing segment.  Although our income statement continues to be negatively impacted by our shifting revenue model and significant investments, we remain focused on fundamental execution to ensure Allscripts success for the long term.”

Third Quarter Details:

Please refer to Table 4 “Condensed Non-GAAP Financial Information” for a complete reconciliation of the GAAP and non-GAAP financial measures discussed in this news release.  In addition, see the “Explanation of Non-GAAP Financial Measures” section in this news release for further discussion of these items.

Liquidity and Debt

As of September 30, 2013, Allscripts had total liquidity of approximately $426 million comprised of cash, marketable securities and undrawn amounts under its revolving credit facility.

In addition, on September 30, 2013, Allscripts had approximately $627 million of principal debt obligations, consisting of $345 million of its 1.25% Cash Convertible Notes and $282 million outstanding under its Senior Secured Credit Facilities.

Conference Call

Allscripts will conduct a conference call today, Thursday, November 7, 2013, at 4:30 PM Eastern Standard Time to discuss its earnings and other information.  Participants may access the conference call via the Internet at http://investor.allscripts.com.  Participants also may access the conference call by dialing (877) 303-0543 (toll free in the US) or +1 (973) 935-8787 (international) and requesting Conference ID #75102043.

A replay of the call will be available approximately two hours after the conclusion of the call, for a period of two weeks, at http://www.allscripts.com or by calling (855) 859-2056 or +1 (404) 537-3406 – Conference ID #75102043.

Supplemental and non-GAAP financial information also will be available at http://investor.allscripts.com.

Footnotes

(1) Bookings reflect the value of executed contracts for software, hardware, professional services, remote hosting, outsourcing and SaaS.
(2) Population Health Management Solutions are comprised of Allscripts Care Management, dbMotion, FollowMyHealth™ patient portal, Patient Flow, Care Director as well as Allscripts post-acute, decision support and clinical analytics solutions.

About Allscripts

Allscripts (NASDAQ:  MDRX) delivers the insights that healthcare providers require to generate world-class outcomes. The company’s Electronic Health Record, practice management and other clinical, revenue cycle, connectivity and information solutions create a Connected Community of Health™ for physicians, hospitals and post-acute organizations.  To learn more about Allscripts, please visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

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