Athenahealth Profit Tops Estimates; Stock Up 13%

(RTTNews) - athenahealth Inc. (ATHN), a healthcare software company, Thursday reported fourth-quarter net income of $13 million or $0.34 per share compared with $6 million or $0.16 per share last year.

Excluding items, adjusted earnings for the quarter were $22 million or $0.57 per share compared with $11 million or $0.29 per share a year ago.

Revenues for the quarter were up 48% at $171.6 million compared with $116 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.45 per share on revenues of $168.4 million for the quarter. Analysts' estimates typically exclude special items.

CEO Jonathan Bush said, "While information exchange in health care remains mostly an abstract concept, we have made considerable advancements towards our vision of becoming the nation's health information cloud."