Athenahealth, Inc. Cuts Financial Outlook and 9% of Its Workforce

It's a different era for athenahealth, Inc. (NASDAQ: ATHN). Investors hoped the cloud-based healthcare applications provider had begun a return to higher growth levels when the company reported its second-quarter results in July. Less than two weeks after those generally positive results were announced, though, Athenahealth stated that it was shaking things up on its board of directors, with its management team, and with big spending cuts.

The company announced its third-quarter results after the market closed on Thursday. It also provided an update on those spending cuts. Here are the highlights.

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Source: Fool.com