The second quarter of 2016 proved to be a positive one for Allscripts, which posted record bookings, 10 percent year-over-year revenue growth and 16 percent increase in profits.
The company ended the quarter with $386.5 million in revenue, compared to $351.7 million in revenue during the same time period last year. For the six months ended June 30, Allscripts' revenue totaled $732.1 million, 7 percent higher than the $686.3 million from the previous year.
Allscripts' gross profit for the second quarter was $166.7 million, up 16 percent from the previous year's second quarter profit of $143.6 million. The company's first half of the fiscal year ended with $318.6 million in profit, up 16.5 percent from the previous year.
The company's strongest point is its record quarterly bookings. The second quarter marks the sixth consecutive quarterly bookings record, according to the company. Allscripts' $362 million in bookings the second quarter is a 39 percent growth from the $260 million in second quarter bookings in 2015. This growth is attributed to Allscripts' acquisition of Netsmart, which closed in April and added $44 million to the quarter's bookings. Additionally, Allscripts recently signed a deal to provide services to OptumCare.
"I am very encouraged by the momentum we have at Allscripts as we look ahead to the second half of 2016," said Allscripts CEO Paul Black.
More articles on Allscripts:
7 recent vendor contracts, go-lives
Wyckoff Heights Medical Center to implement Allscripts Sunrise EHR
WWL selects Allscripts Sunrise