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iSOFT (ASX:ISF) shares slump on swing to large loss

iSOFT (ASX:ISF) shares slump on swing to large loss

Shares in health IT company iSOFT (ASX:ISF) have fallen 18.1% today since the company announced a swing to a $381.9 million net loss in FY10.

Revenue fell by $109 million to $540.1 million, and the company took a $383 million impairment charge on the estimated value of its intangible assets as a result of reduced internal growth projections.

Ebitda fell 77% to $30 million, while operating cash flow was a marginally negative $690,000.

“This financial result is a disappointing one that does not reflect the underlying strength... of iSOFT's products [or its] global footprint,” iSOFT chairman Robert Moran said.

ISF shares are today trading at $0.135.

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Tags e-healthiSOFTASX:ISFRobert Moran

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