Healthcare informatics firm Eclipsys reported growth in revenues for the company's fiscal 2006 fourth quarter (end-December 31), as well as net income impacted by the adoption Statement of Financial Accounting Standards 123R, Share-Based Payment (SFAS 123R) rules earlier this year.
For the period, the Boca Raton, FL-based company posted sales of $115.9 million, a solid uptick compared with revenues of $105.1 million in the same period the year before. The company's net income on a generally accepted accounting principles (GAAP) basis was $3.9 million, compared with GAAP net income of $5 million in the prior year.
Fourth-quarter 2006 earnings include $3.6 million of expense related to SFAS 123R adoption, which was not in place for the 2005 fiscal year, Eclipsys said.
For the fiscal year, the company reported revenues of $427.6 million, demonstrating solid growth over revenues of $383.3 million reported for 2005. The company's net income for fiscal 2006 was recorded as $2.1 million, a strong showing compared with net income of $485,000 for the prior year.
By AuntMinnie.com staff writers
February 15, 2007
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