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BRIEF-Athenahealth reports Q3 EPS $0.32; to cut about 9% workforce
October 19, 2017 / 8:58 PM / in a month

BRIEF-Athenahealth reports Q3 EPS $0.32; to cut about 9% workforce

Oct 19 (Reuters) - Athenahealth Inc:

* Athenahealth Inc says quarterly earnings per share $0.32

* Quarterly adjusted earnings per share $0.56

* quarterly total revenue $304.6 million, up 10 percent

* Sees FY 2017 GAAP total revenue $1,200 million to $1,220 million

* Sees FY 2017 non-gaap adjusted operating income $135 million to $150 million

* Says expect negative impact of about $4 million on 2017 revenue from hurricanes harvey and irma

* Sees FY 2017 gaap operating income $29 million to $53 million

* Sees FY 2017 annual bookings $300 million to $350 million

* Says announcing increase to previously identified cost savings target

* Says on Oct 13, board approved strategic plan to generate $100 million to $115 million of gross pre-tax expense savings

* Says expect to achieve savings via new organizational design, including closure of San Francisco and Princeton offices

* Says as a result of redesign, expect to reduce workforce by about 9 percent

* Says expect to realize substantially all of savings from strategic plan by the end of 2018

* Says expect to incur pre-tax charges of about $15 million to $25 million related to workforce reductions, most of which will be recognized in Q4

* Says “holding ourselves accountable to achieve at least 15% non-gaap operating margin in 2018” Source text for Eikon: Further company coverage:

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