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Slow Growth, Big Profit for Cerner


July 23, 2008

The stock price of Cerner Corp. fell 2.5% in mid-morning trading on July 23 after the clinical software vendor announced weak revenue growth but a big increase in profit during the second quarter of 2008.

For the fourth quarter in a row, Cerner’s revenue from system sales fell. The shortfall in all four quarters has been more than made up by increased revenue for support, maintenance and services.

Net income in the second quarter rose 31% to $35.3 million compared with the same period last year, while revenue increased 4% to $402.8 million. System sales dropped 7% while support revenue rose 10%.

Cerner reaffirmed its expectation of 10% revenue growth during all of 2008. More information is available at cerner.com.

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