Who needs the stimulus money? Apparently not athenahealth Inc.
The Watertown-based electronic healthcare records company came out of the gate firing on all cylinders during the first quarter of 2009, posting a 41 percent increase in sales for the three month period ended March 31.
That means the company was doing gangbuster business long before the American Recovery and Reinvestment Act, which is slated to pump nearly $20 billion into electronic healthcare records, made it past the Senate in February.
Athenahealth posted sales of $42 million for the quarter, compared with $29.8 million for the same period last year, as more physicians started using the company’s software service.
The sales growth helped boost the company’s bottom line, as the firm posted net income of $2.3 million, compared to $1.8 million for first quarter of 2008 —
a 27.8 percent increase.
Company officials said they expected the strong sales to continue throughout the year, projecting similar sales growth to the 47 percent rate the company achieved last year.