Athenahealth Q3 Meets Views, Offers In-Line Outlook

Athenahealth, Inc's ATHN offered a full-year outlook close to Wall Street's expectations Thursday while posting a third-quarter net loss on revenue growth of 26 percent.

The company traded recently at $118.05, down 2 percent.

The medical billing company met third-quarter views and predicted 2014 adjusted earnings will be "close to the high end of the $0.98 to $1.10 guidance range" offered in December 2013.

It forecast full year revenue "at or above the mid-point of the $725 million to $755 million guidance range."

Analysts expect $1.09 per share on revenue of $746.65 million for 2014.

The company's recent third-quarter adjusted gross margin narrowed to 61.2 percent, from 61.9 percent in the same period last year.

Athenahealth swung to a third-quarter net loss of $1.63 million, or $0.04 per share, from year-earlier profits of $1.17 million, or $0.03 per share. Revenue grew to $190.23 million from $151.53 million a year earlier.

Adjusted income was $0.27 per share, compared with $0.29 per year earlier. Wall Street expected adjusted profit of $0.27 per share on revenue of $190 million.