Allscripts Healthcare Solutions Inc. has issued full-year 2018 guidance and reported its fourth-quarter 2017 earnings results.
The company projects it will see non-GAAP revenue of $2.15 billion to $2.25 billion during the full year of 2018, while adjusted EBITDA will range from $420 million to $460 million. Non-GAAP EPS is expected to be between 72 cents and 82 cents.
The S&P Capital IQ consensus normalized EPS estimate for 2018 is 79 cents.
Allscripts Healthcare also amended its credit agreement to provide for additional liquidity as well as lower interest rates. The amendment will provide a $400 million term loan and a $900 million revolving facility, representing an overall increase in the company's borrowing capacity of $500 million. The maturity date was extended to 2023.
The company also completed its previously announced $100 million acquisition of Practice Fusion Inc. Allscripts also said it has agreed to divest its healthcare document business, One Content, to Hyland Software Inc. The company previously acquired the business through its acquisition of McKesson Corp.'s hospital and health system information technology business.
For the fourth quarter of 2017, Allscripts Healthcare reported non-GAAP net income attributable to the company of $33.0 million, or 18 cents per share, up from $26.4 million, or 14 cents per share, in the prior-year period.
The S&P Capital IQ consensus normalized EPS estimate for the period was 18 cents.
Net income attributable to the company's shareholders for the quarter was $5.8 million, or 3 cents per share, compared with a net loss of $7.4 million, or a loss of 4 cents per share, in the same quarter of 2016.
Allscripts Healthcare posted non-GAAP net income attributable to the company of $112.9 million, or 62 cents per share, for the full year of 2017, compared with $104.1 million, or 55 cents per share, in 2016.
The S&P Capital IQ consensus normalized EPS estimate for 2017 was 62 cents.
The company recorded a net loss attributable to its shareholders of $196.5 million, or a loss of $1.09 per share, in 2017, compared with a net loss of $25.7 million, or a loss of 14 cents per share, in 2016.