CPSI Ups its Forecast
The stock price for community hospital information systems vendor Computer Programs and Systems Inc. rose 9 percent in morning trading on April 23 after the company reported mixed financial results for the first quarter of 2010, but raised expectations for the second quarter.
The stock price for community hospital information systems vendor Computer Programs and Systems Inc. rose 9 percent in morning trading on April 23 after the company reported mixed financial results for the first quarter of 2010, but raised expectations for the second quarter.
Mobile, Ala.-based CPSI had first quarter net income of $2.9 million, down 27 percent from the same period a year ago, as clients rescheduled two system installations to later this year. Earnings per share of 27 cents missed investment analyst expectations by a nickel. Quarterly revenue increased 4.7 percent to $31.5 million.
However, the company expects second quarter earnings per share of 36-38 cents, up from analyst expectations of 35 cents. CPSI also expects revenue of $35-36.5 million for the quarter, up from a consensus analyst figure of about $33.9 million.
The company will be operating at higher capacity for clinical software implementations--spurred by the HITECH Act--during the rest of the year and beyond, says Boyd Douglas, president and CEO.
More information is available at cpsinet.com.
--Joseph Goedert
Mobile, Ala.-based CPSI had first quarter net income of $2.9 million, down 27 percent from the same period a year ago, as clients rescheduled two system installations to later this year. Earnings per share of 27 cents missed investment analyst expectations by a nickel. Quarterly revenue increased 4.7 percent to $31.5 million.
However, the company expects second quarter earnings per share of 36-38 cents, up from analyst expectations of 35 cents. CPSI also expects revenue of $35-36.5 million for the quarter, up from a consensus analyst figure of about $33.9 million.
The company will be operating at higher capacity for clinical software implementations--spurred by the HITECH Act--during the rest of the year and beyond, says Boyd Douglas, president and CEO.
More information is available at cpsinet.com.
--Joseph Goedert