Eclipsys sees Q3 income slide
Health IT company Eclipsys has released its 2009 third quarter results, which ended Sept. 30, posting a 95.6 percent loss in net income compared with the 2008 third quarter.
The Atlanta-based company reported that its net income during the 2009 third quarter was $3.9 million, compared with the 2008 third quarter figure of $87.4 million. This year's third quarter results were partially attributable to a repaid debt of $45 million on its credit facility. Also, the net income in the third quarter of 2008 included a one-time income tax benefit of $80 million associated with the reversal of the company’s deferred tax valuation allowance.
According to Eclipsys, revenues for the third quarter saw a $6.9 million downturn from last year's quarterly figure--the 2009 third quarter revenues ended with $125.5 million, compared with revenues of $132.4 million for same year-ago quarter.
Eclipsys did see a reduction of 3.7 percent in overall total costs and expenses, with its 2009 third quarter costs and expenses totaling $120.9 million, compared with $125.6 million in the 2008 third quarter.
The Atlanta-based company reported that its net income during the 2009 third quarter was $3.9 million, compared with the 2008 third quarter figure of $87.4 million. This year's third quarter results were partially attributable to a repaid debt of $45 million on its credit facility. Also, the net income in the third quarter of 2008 included a one-time income tax benefit of $80 million associated with the reversal of the company’s deferred tax valuation allowance.
According to Eclipsys, revenues for the third quarter saw a $6.9 million downturn from last year's quarterly figure--the 2009 third quarter revenues ended with $125.5 million, compared with revenues of $132.4 million for same year-ago quarter.
Eclipsys did see a reduction of 3.7 percent in overall total costs and expenses, with its 2009 third quarter costs and expenses totaling $120.9 million, compared with $125.6 million in the 2008 third quarter.