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Mixed Financial News from CPSI


April 25, 2008

Community hospital information systems vendor Computer Programs and Systems Inc. beat analysts’ expectations during the first quarter of 2008. But the company expects rougher times the rest of the year.

On the mixed news, CPSI’s stock price lost 11% of its value at the open of trading April 25 before closing 4 cents higher at $19.64 in heavy trading on the NASDAQ exchange.

The Mobile, Ala.-based company saw first quarter net income increase 37% to $3.5 million. Earnings per share of 33 cents were 2 cents higher than expected. Quarterly revenue rose nearly 14% to $29.5 million.

The company expects the remainder of 2008 to be challenging but has strong cash flow, says CEO Boyd Douglas. CPSI has issued guidance for the second quarter that is substantially below what analysts previously expected. The company forecasts second quarter revenue of $25.5 million to $27 million; expectations were $29 million. Revised earnings per share of 22 cents to 24 cents contrast with expectations of 33 cents.

More information is available at cpsinet.com.

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