Athenahealth: 3Q Earnings Snapshot
WATERTOWN, Mass. (AP) _ Athenahealth Inc. (ATHN) on Friday reported third-quarter net income of $26.4 million.
The Watertown, Massachusetts-based company said it had net income of 64 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.08 per share.
The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The maker of billing and medical practice management software posted revenue of $329.5 million in the period, falling short of Street forecasts. Twenty-one analysts surveyed by Zacks expected $336.8 million.
Athenahealth expects full-year revenue in the range of $1.34 billion to $1.37 billion.
Athenahealth shares have decreased slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $120.51, a drop of 3 percent in the last 12 months.