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What: Shares of health care software provider Greenway Medical Technologies
So what: For the quarter, Greenway continued to demonstrate moderate growth trends as the health care sector transitions to a software-based records platform. Revenue jumped 24% year over year to $36.4 million with net income of $0.07. Although there are few analysts covering the company, sales surpassed estimates by a clean $2 million, but profits were $0.02 shy of expectations. Furthermore, the company's fiscal 2013 forecast of $149 million-$156 million and EPS of $0.27-$0.31 failed to impress. The sales figures are smack dab in the middle of Wall Street's expectations, but analysts had been looking for EPS of $0.33.
Now what: Greenway, and much of the health-care sector, is really just in its infancy in terms of utilizing and optimizing software with regards to record keeping and data storage. The company likely has a bright future, and just last week signed a health records deal with Walgreen
Craving more input? Start by adding Greenway Medical Technologies to your free and personalized Watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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