Cerner Corporation Earnings: Strong Bookings Push Shares Higher
S&P 500 (NYSE:SPY) component Cerner Corporation (NASDAQ:CERN) reported its results for the first quarter. Cerner Corporation designs and supports healthcare devices, healthcare information technology and content solutions for organizations and consumers.
Cerner Earnings Cheat Sheet for the First Quarter
Results: Net income for the healthcare information services company rose to $64.6 million (75 cents/share) vs. $50.3 million (59 cents/share) in the same quarter a year earlier. A rise of 28.4% from the year earlier quarter.
Revenue: Rose 14% to $491.7 million YoY.
Actual vs. Wall St. Expectations: CERN reported adjusted net income of 80 cents per share. By this measure, the company topped the mean analyst estimate of 76 cents/share. Estimates ranged from 74 cents per share to 78 cents per share.
Quoting Management: “Our first quarter results represent a very good start to the year, with Cerner again delivering strong bookings, revenue, earnings, and cash flow,” said Neal Patterson, Cerner chairman, CEO, president and co-founder. “Cerner remains very well positioned to continue benefiting from demand driven by stimulus, healthcare reform, and other regulatory requirements, such as ICD-10 codes, that can be addressed with our solutions and services.”
The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 16.8% and in the third quarter of the last fiscal year, the figure rose 25.8%.
Competitors to Watch: Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), Mediware Info. Systems (NASDAQ:MEDW), CareFusion Corporation (NYSE:CFN), Quality Systems, Inc. (NASDAQ:QSII), Merge Healthcare Inc. (NASDAQ:MRGE), McKesson Corporation (NYSE:MCK), Streamline Health Solutions Inc. (NASDAQ:STRM), Aspyra Inc. (APYI), Omnicell, Inc. (NASDAQ:OMCL), and Computer Sciences Corp. (NYSE:CSC).
Today’s Performance: Shares of CERN are up over 4% in after hours trading.