Allscripts Healthcare Solutions Inc (MDRX, Financial) filed Quarterly Report for the period ended 2008-11-30.
ALLSCRIPTS-MISYS HEALTHCARE SOLUTIONS INC. formerly Allscripts Healthcare Solutions Inc. is a provider of clinical software connectivity and information solutions that are used by the physicians. The Company?s businesses provide solutions that inform physicians with just in time information and connect physicians to each other and to the entire community of care. The Company operates through three business segments: software and related services information services and prepackaged medications. Allscripts Healthcare Solutions Inc has a market cap of $1.46 billion; its shares were traded at around $8.64 with a P/E ratio of 19.2 and P/S ratio of 5.17.
Amortization of intangibles for the three months ended November 30, 2008 decreased $4,218, or 77.1%, from $5,474 during the three months ended November 30, 2007 to $1,256 in the comparable period in fiscal 2009. Amortization of intangibles for the six months ended November 30, 2008 decreased $9,505, or 86.8%, from $10,948 during the six months ended November 30, 2007 to $1,443 in the comparable period in fiscal 2009. The decrease in both the three and six month periods ended November 30, 2008 is primarily due to the Medic customer relationship intangible asset becoming fully amortized during the beginning of fiscal 2009 versus a full period of amortization in the comparable period in fiscal 2008. This decrease was partially offset by the intangible amortization recorded in conjunction with the Transactions for the period from the closing of the Transactions on October 10, 2008 through November 30, 2008.
Interest income and other, net, for the three months ended November 30, 2008 increased $262, from $22 during the three months ended November 30, 2007 to $284 in the comparable period in fiscal 2009. Interest income and other, net, for the six months ended November 30, 2008 increased $252, from $33 during the six months ended November 30, 2007 to $285 in the comparable period in fiscal 2009. Interest income and other consists primarily of interest earned on Allscripts cash and marketable securities balances. The increase in interest income and other during the first half of fiscal 2009 was primarily due to an increase in the cash and marketable securities balance related to the completion of the Transactions on October 10, 2008.
During the six months ended November 30, 2008 we used $12,467 in net cash from operations, compared to cash generated of $1,332 from operations in the same period in fiscal 2008. This net decrease in cash from operations of $13,799 was due primarily to the Company generating a net loss of $589 for the first half of fiscal 2009 compared to net income generated of $4,387 for same period in fiscal 2008. In addition, a decline from operating assets and liabilities of $10,756 also contributed to the cash used which was due to heavier use of cash in trade receivables, prepaid and other current assets and accrued compensation and benefits, partially offset by improvements in cash from accounts payable and accrued expenses.
During the six months ended November 30, 2008 we used $261,317 of cash from investing activities, compared to cash used of $8,597 in the same period in fiscal 2008. We obtained net cash acquired of $65,728 in conjunction with the Transactions on October 10, 2008. The first half of fiscal 2009 also benefited from the sale of Allscripts Cary Facility in which we received approximately $6,450 in net proceeds. These cash inflows were offset by payments of $329,494 for the acquisition of Allscripts, capital expenditures of $1,581 and investments in capitalized software of approximately $2,518.
During the six months ended November 30, 2008 we generated $342,349 in cash from financing activities, compared to $7,384 in the same period in fiscal 2008. This increase in cash is attributable to a change of $348,254 in the parents net investment account, which includes the $330,000 received from Misys, cash proceeds from exercise of stock options of $371, and cash payments for debt obligations of approximately $6,276 made during the first half of fiscal 2009.
Read the The complete ReportMore on MDRX:
Gurus buys and sells of MDRX
10-year financial history of MDRX.
Insider buys/sells of MDRX.
ALLSCRIPTS-MISYS HEALTHCARE SOLUTIONS INC. formerly Allscripts Healthcare Solutions Inc. is a provider of clinical software connectivity and information solutions that are used by the physicians. The Company?s businesses provide solutions that inform physicians with just in time information and connect physicians to each other and to the entire community of care. The Company operates through three business segments: software and related services information services and prepackaged medications. Allscripts Healthcare Solutions Inc has a market cap of $1.46 billion; its shares were traded at around $8.64 with a P/E ratio of 19.2 and P/S ratio of 5.17.
Highlight of Business Operations:
Unallocated corporate expenses for the three months ended November 30, 2008 increased by $23,536, from $13,866 during the three months ended November 30, 2007 to $37,402 in the comparable period in fiscal 2009. Unallocated corporate expenses for the six months ended November 30, 2008 increased by $22,315 from $26,192 in the first six months of fiscal 2008 to $48,507 in the same period in fiscal 2009. Unallocated corporate expenses includes amortization of intangible assets with the exception of the amortization of acquired technology which is included in cost of revenue. The increase in unallocated corporate expense for the three and six month periods in fiscal 2009 is primarily due to merger and integration related costs in connection with the Transactions of approximately $22,100 and $23,800, respectively. In addition, the three and six month periods in fiscal 2008 included one-time severance and reorganization costs of approximately $1,900 and $4,900, respectively. Excluding these one-time related costs in both fiscal 2009 and 2008, unallocated corporate expenses would have been approximately $15,302 and $11,966 for the three months ended November 30, 2008 and 2007, respectively; and $24,707 and $21,292 for the six months ended November 30, 2008 and 2007, respectively. These increases in both periods in fiscal 2009 are primarily due to corporate costs incurred related to the Transactions and the impairment charge of $14,076 related to the investment in iMedica, partially offset by cost benefits received in fiscal 2009 for cost reduction strategies that were implemented at the end of fiscal 2008.Amortization of intangibles for the three months ended November 30, 2008 decreased $4,218, or 77.1%, from $5,474 during the three months ended November 30, 2007 to $1,256 in the comparable period in fiscal 2009. Amortization of intangibles for the six months ended November 30, 2008 decreased $9,505, or 86.8%, from $10,948 during the six months ended November 30, 2007 to $1,443 in the comparable period in fiscal 2009. The decrease in both the three and six month periods ended November 30, 2008 is primarily due to the Medic customer relationship intangible asset becoming fully amortized during the beginning of fiscal 2009 versus a full period of amortization in the comparable period in fiscal 2008. This decrease was partially offset by the intangible amortization recorded in conjunction with the Transactions for the period from the closing of the Transactions on October 10, 2008 through November 30, 2008.
Interest income and other, net, for the three months ended November 30, 2008 increased $262, from $22 during the three months ended November 30, 2007 to $284 in the comparable period in fiscal 2009. Interest income and other, net, for the six months ended November 30, 2008 increased $252, from $33 during the six months ended November 30, 2007 to $285 in the comparable period in fiscal 2009. Interest income and other consists primarily of interest earned on Allscripts cash and marketable securities balances. The increase in interest income and other during the first half of fiscal 2009 was primarily due to an increase in the cash and marketable securities balance related to the completion of the Transactions on October 10, 2008.
During the six months ended November 30, 2008 we used $12,467 in net cash from operations, compared to cash generated of $1,332 from operations in the same period in fiscal 2008. This net decrease in cash from operations of $13,799 was due primarily to the Company generating a net loss of $589 for the first half of fiscal 2009 compared to net income generated of $4,387 for same period in fiscal 2008. In addition, a decline from operating assets and liabilities of $10,756 also contributed to the cash used which was due to heavier use of cash in trade receivables, prepaid and other current assets and accrued compensation and benefits, partially offset by improvements in cash from accounts payable and accrued expenses.
During the six months ended November 30, 2008 we used $261,317 of cash from investing activities, compared to cash used of $8,597 in the same period in fiscal 2008. We obtained net cash acquired of $65,728 in conjunction with the Transactions on October 10, 2008. The first half of fiscal 2009 also benefited from the sale of Allscripts Cary Facility in which we received approximately $6,450 in net proceeds. These cash inflows were offset by payments of $329,494 for the acquisition of Allscripts, capital expenditures of $1,581 and investments in capitalized software of approximately $2,518.
During the six months ended November 30, 2008 we generated $342,349 in cash from financing activities, compared to $7,384 in the same period in fiscal 2008. This increase in cash is attributable to a change of $348,254 in the parents net investment account, which includes the $330,000 received from Misys, cash proceeds from exercise of stock options of $371, and cash payments for debt obligations of approximately $6,276 made during the first half of fiscal 2009.
Read the The complete ReportMore on MDRX:
Gurus buys and sells of MDRX
10-year financial history of MDRX.
Insider buys/sells of MDRX.
