Cerner revenues up 18 percent in fourth quarter

Cerner Corp. today said fourth-quarter revenue totaled $465.7 million, up 18 percent from a year ago.

The North Kansas City-based software company beat Wall Street expectations, reporting an adjusted fourth-quarter profit of $53.6 million, or 65 cents a share.

Wall Street analysts has projected earnings of 58 cents per share.

Cerner said the company had booked $404.9 million in new business during the fourth quarter, just short of the $406.6 million record set during the fourth quarter of 2007.

“The large size and geographic diversity of our client base and the deep strategic relationships with those clients contributed to our ability to deliver solid results in a difficult environment," Neal Patterson, Cerner's chief executive, said in a statement.

Cerner said projected revenue for the first three months of 2009 will range from $410 to $430 million, with adjusted earnings ranging from 48 to 54 cents per share.

Cerner announced its financial results after the markets closed. Shares of Cerner traded down 49 cents today, closing at $36.13.

Submitted by Dave Hayes on February 10, 2009 - 3:16pm.
dhayes@kcstar.com
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4/9/09

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