Dec 12
2013
athenahealth, Inc. Reaffirms Fiscal Year 2013 Guidance and Initiates Guidance for Fiscal Year 2014
WATERTOWN, Mass., Dec. 11, 2013 (GLOBE NEWSWIRE) — 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 reaffirmed financial guidance for fiscal year 2013 and announced financial guidance for fiscal year 2014. The Company will host its Sixth Annual Investor Summit tomorrow, Thursday, December 12, 2013, 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 2013 and 2014 guidance is presented below:
| For the Fiscal Year Ending: | ||
| December 31, 2013 | December 31, 2014 | |
| GAAP Total Revenue | $580 – $615 million | $725 – $755 million |
| Non-GAAP Adjusted Gross Margin | 63% – 64% | 62.5% – 63.5% |
| Non-GAAP Adjusted Operating Income | $68 – $80 million | $70 – $80 million |
| Non-GAAP Adjusted Net Income per Diluted Share | $1.05 – $1.15 | $0.98 – $1.10 |
| Non-GAAP Tax Rate | 41% – 42% | 40% |
“We are very excited about our growth opportunities and are pleased to present an ambitious financial plan for fiscal year 2014. We expect a year of continued investment as we broaden our service portfolio and deepen our capabilities to transform and support the full continuum of care,” said Tim Adams, the Company’s Chief Financial Officer. “We are highly confident that our strategic investments are expanding our addressable market and our portfolio of services while strengthening our position to achieve the ultimate goal of becoming this nation’s health information backbone.”
Use of Non-GAAP Financial Measures
In the Company’s earnings releases, conference calls, slide presentations, and webcasts, the Company may use or discuss non-GAAP financial measures, as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release. The Company’s earnings press releases containing such non-GAAP reconciliations can be found on the Investors section of the Company’s web site at www.athenahealth.com.
Webcast Information
A live webcast of the Company’s Sixth Annual Investor Summit can be accessed via the Investors section of the Company’s website at www.athenahealth.com. A replay of this webcast will be available on the website within 24 hours following the event and will remain available through March 12, 2014.
About athenahealth
athenahealth is a leading provider of cloud-based services for electronic health record (EHR), practice management, and care coordination. athenahealth’s mission is to be caregivers’ most trusted service, helping them do well doing the right thing. For more information, please visit www.athenahealth.com or call 888-652-8200.