What happened

After the company disappointing third-quarter results, shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) fell 17% as of 11:53 a.m. EDT on Friday.

So what

Here's a look at the key numbers from the period:

  • Non-GAAP revenue grew 19% to $536 million. That was below the $549.4 million that Wall Street was expecting.
  • The contract backlog grew 13% to $4.7 billion. However, that represents a sequential decline of $100 million, and its bookings of $246 million were well below the $304 million that was recorded in the year-ago period.
  • GAAP net loss was $36 million. 
  • Non-GAAP net income was $31 million, or $0.18 per share. That was a penny shy of expectations.

Management stated that is now expects to hit the low end of its guidance range for the full year. As a reminder, that guidance calls for at least 17% growth in non-GAAP revenue and at least 16% growth in non-GAAP EPS.

MAn with head against wall in conference room

Image source: Getty Images.

Wall Street punished the stock because of its lower-than-hoped-for quarterly results and tepid guidance.

Now what

2018 is shaping up to be another tough year for shareholders. Shares are currently down more than 30% since January, which only extends this company's long history of destroying shareholder value.

Allscripts Healthcare Solutions is still expecting 2018 to be a year of financial growth, which could provide reasons to hold on to shares. However, I prefer to keep my capital in winning companies, so for that reason, I'm content to look elsewhere for investment opportunities.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.