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Cerner Stock Up After 1Q Report


April 23, 2008

Good profit growth for Cerner Corp. in the first quarter of 2008 offset slow revenue growth and investors liked what they saw, sending the clinical software vendor’s stock price up 14% at the start of trading on the NASDAQ exchange April 23.

Kansas City, Mo.-based Cerner’s net income for the first quarter rose 33% to $36.8 million. Earnings per share of 47 cents were 3 cents higher than expected. Quarterly revenue rose 5% to $384.8 million, below expectations of $393.5 million.

Cerner raised its estimate of earnings per share for all of 2008 to $2.17, which is 4 cents higher than previously expected. It also forecast annual revenue growth of 10% to $1.67 billion, just shy of original expectations of $1.68 billion. For more information, visit cerner.com.

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