Investing.com -- Shares in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) surged by more than 10% in after-hours trading on Thursday, after the health care information technology company offered preliminary second quarter earnings slightly ahead of analysts' forecasts.
Bolstered by a $233 million increase in bookings on a year-over-year basis, Allscripts expects to earn revenues of $350 to $353 million for the period or 0.12 per share. The projections are slightly above analysts' forecasts of $347.4 million in revenues or earnings per share of 0.10.
Founded in 1986 in Chicago, Allscripts provides physician practices, hospitals and other healthcare practices with practice management tools and electronic health record technology. The company services more than 180,000 physicians and has technology systems in place in approximately 2,700 hospitals in the U.S.
Over the last eight years, Allscripts has grown exponentially following acquisitions of rival Misys in 2008 and Eclipsys in 2010.
"Our strong preliminary results across all key financial metrics reflect continued improvement in Allscripts execution across the enterprise on behalf of our clients," CEO Paul M. Black said in a statement. "Sales growth in the second quarter accelerated compared with the first quarter based on improving performance within acute and international markets. Ambulatory solutions and growth in Allscripts payer and life sciences business helped drive the year-over-year bookings growth."
Shares in Allscripts jumped by 1.46 or 10.72% in after-hours to 13.62. The company will release its second quarter earnings after the close of markets on Aug. 4.
"Revenue improved on a sequential basis, driven by growth in both recurring and non-recurring revenue," Black added. "We look forward to discussing our results in more detail in a few weeks."