Cerner
Cerner Corp. posted strong fourth-quarter and full-year earnings on revenue growth that shot the company beyond the $1.5 billion mark for the first time.
After the market closed on Thursday, the North Kansas City-based health care information technology company (Nasdaq: CERN) reported revenue of $394.5 million for the quarter that ended Dec. 29, up 3.6 percent from $380.8 million a year earlier.
Earnings in the quarter were $41.3 million, or 49 cents a share, up 5.6 percent from $39.1 million, or 50 cents a share, a year earlier.
Adusted diluted earnings were 52 cents a share in the quarter.
Seventeen analysts surveyed by Thomson First Call reported a consensus estimate for adusted diluted earnings of 51 cents a share for the quarter and $1.74 for the year.
Thirteen analysts reported a consensus revenue estimate of $412 million for the quarter, and 15 analysts reported a revenue estimate of $1.54 billion for the year.
For the full year, Cerner reported $1.52 billion in revenue, up 10.3 percent from $1.38 billion in fiscal year 2006.
Earnings for the year were $127.1 million, or $1.53 a share, up 15.6 percent from $109.9 million, or $1.34 a share, in fiscal 2007 paydayloans.
In the fourth quarter, Cerner completed installation of its Millennium software programs at 339 client facilities. It now has turned on more than 7,500 Cerner Millennium programs at more than 1,200 facilities worldwide.
In a release, Cerner CEO Neal Patterson also credited the company's focus on margin expansion and cash-flow generation for the strong earnings growth and cash flow Cerner delivered in the fourth quarter.
"With a solid 2007 behind us, we have a good outlook going into 2008," Patterson said in the release. "Solid execution of our 2008 financial and operational plans should result in strong revenue and earnings growth and accelerating free cash flow.
"We will also continue to innovate and execute on our strategic initiatives, which will allow us to redefine our boundaries as we approach the next decade.
For 2008, Cerner expects revenue growth of 10 to 12 percent from 2007, the release said.
Cerner ranks No. 12 on the Kansas City Business Journal's list of area public companies.