Allscripts swings to $182.2M loss in 2019
Summary
The electronic health record (EHR) vendor reported net income of $375 million in the fourth quarter of 2018, according to its fourth-quarter and full-year 2019 financial filings. We call it out now, though, only because the timing of the wind from departing clients aligned in such a way as to create a real bolus that is unusually high and will have a significant impact on year-over-year comparisons, he said. "We announced a number of key client extensions, including managed services at Northwell Health, that demonstrate our strong positioning in the marketplace," Black said in a statement. "Looking ahead, we believe we have positioned Allscripts to benefit from the investments we have made to expand the company’s portfolio outside the EHR while maintaining a disciplined cost structure," he said. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share in the fourth quarter of 2019.
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