Athenahealth Reaffirms FY13 Outlook; Sees FY14 Below Consensus

(RTTNews) - athenahealth, Inc. (ATHN) on Wednesday reaffirmed its full year 2013 financial outlook, but forecast full year 2014 revenue and earnings below analysts' current consensus estimates, sending its shares down by more than 12% in after hours trading.

The healthcare technology company said it still expects total revenue of $580 million to $615 million and adjusted earnings of $1.05 to $1.15 per share for the full year 2013.

Analysts polled by Thomson Reuters currently expect the company to earn $1.03 per share on revenue of $591.76 million for the full year 2013. Analysts' estimates typically exclude special items.

For the full year 2014, athenahealth forecast total revenue of $725 million to $755 million and adjusted earnings of $0.98 to $1.10 per share. Analysts currently expect the company to earn $1.38 per share on revenue of $765.28 million.

"We are very excited about our growth opportunities and are pleased to present an ambitious financial plan for fiscal year 2014. We expect a year of continued investment as we broaden our service portfolio and deepen our capabilities to transform and support the full continuum of care," said Tim Adams, athenahealth Chief Financial Officer.

athenahealth shares are currently losing 12.88% in after hours trading after closing the day's regular trading session at $130.85, down $2.88 or 2.15%.