Record Bookings Saves Allscripts Shares After Poor Guidance

Medical-sector IT provider Allscripts Healthcare Solutions Inc MDRX posted quarterly results after market close Wednesday, meeting analyst earnings expectations and coming up short on revenue. The company provided fiscal year 2016 guidance that lagged behind Street expectations.

Allscripts reported fourth-quarter inline EPS of $0.13, matching expectations. Sales were $345.6 million, short the $357.91 million analysts charted.

Despite the sales miss, the company reported a record bookings figure of $343 million, a nearly 40 percent increase.

The company's earnings guidance range was close to Street estimates, but couldn't meet expectations. The company sees 2016 adjusted EPS of $0.55 to $0.62 against an estimate of $0.58. The company's sales forecast was $1.43 billion to $1.46 billion against consensus $1.48 billion.

CEO Paul Black reassured investors that "the company is financially fit, profitable and positioned well, offering a robust and complete solutions portfolio to enable the transformation to value-based care across the healthcare industry in the United States and globally."

The market punished competitor Cerner Corporation CERN on Wednesday for a bookings miss, so Allscripts' success there might be keeping investors happy.

Allscripts stock ended the day trending down slightly, without significant price action after hours.