Allscripts Healthcare Solutions, Inc. | |||||||||
Condensed Non-GAAP Financial Information | |||||||||
(In millions, except per-share amounts) | |||||||||
(Unaudited) | |||||||||
Three Months | Three Months Ended | ||||||||
Ended | 3/31/10 | 3/31/10 | Q1 2010 | ||||||
3/31/11 | Allscripts | Eclipsys | Total | ||||||
Total revenue, as reported | $335.3 | $184.4 | $128.4 | $312.8 | |||||
Deferred revenue adjustment | 10.8 | 0.5 | 0.0 | 0.5 | |||||
Total non-GAAP revenue | $346.1 | $184.9 | $128.4 | $313.3 | |||||
Gross profit, as reported | $159.8 | $104.0 | $60.7 | $164.7 | |||||
Deferred revenue adjustment | 10.8 | 0.5 | 0.0 | 0.5 | |||||
Depreciation reclass | 0.0 | 0.0 | (5.0) | (5.0) | |||||
Total non-GAAP gross profit | $170.6 | $104.5 | $55.7 | $160.2 | |||||
Operating income, as reported | $24.5 | $32.0 | $10.7 | $42.7 | |||||
Deferred revenue adjustment | 10.8 | 0.5 | 0.0 | 0.5 | |||||
Acquisition-related amortization | 16.7 | 5.6 | 3.1 | 8.7 | |||||
Stock-based compensation expense | 7.0 | 3.9 | 3.7 | 7.6 | |||||
Transaction-related expense (a) | 13.1 | 0.2 | 0.0 | 0.2 | |||||
Total non-GAAP operating income | $72.1 | $42.2 | $17.5 | $59.7 | |||||
Net income, as reported | $12.6 | $18.6 | $5.4 | $24.0 | |||||
Deferred revenue adjustment | 6.6 | 0.3 | 0.0 | 0.3 | |||||
Acquisition-related amortization | 10.2 | 3.4 | 1.9 | 5.3 | |||||
Stock-based compensation expense | 4.3 | 2.4 | 3.4 | 5.8 | |||||
Transaction-related expense (a) (b) | 9.2 | 0.1 | 0.0 | 0.1 | |||||
Tax rate alignment | (2.3) | 0.7 | 0.0 | 0.7 | |||||
Non-GAAP net income | $40.6 | $25.5 | $10.7 | $36.2 | |||||
Tax Rate | 39% | 39% | 38% | 39% | |||||
Weighted shares outstanding - diluted | 192.6 | 149.1 | 57.7 | 195.0 | |||||
Earnings per share - diluted, as reported | $0.06 | $0.12 | $0.09 | $0.12 | |||||
Non-GAAP earnings per share - diluted | $0.21 | $0.17 | $0.19 | $0.19 | |||||
Note: all adjustments to reconcile GAAP to non-GAAP net income are net of tax | |||||||||
(a) Transaction-related expenses are fees and expenses, including legal, investment banking and accounting fees and other integration-related expenses, incurred in connection with announced transactions. | |||||||||
(b) Includes a $1.2 million one-time debt issuance cost write-off, net of tax (or $1.9 million, pre-tax), associated with the amendment and restatement of the Company’s senior credit facilities as disclosed in Allscripts Current Report on Form 8-K filed on April 6, 2011. | |||||||||
