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CPSI Beats Expectations


July 25, 2008

Community hospital information systems vendor Computer Programs and Systems Inc. reported lower profit and revenue in the second quarter of 2008 compared with the same period last year.

Still, the results exceeded investment analysts’ expectations and the stock price of the Mobile, Ala.-based vendor rose more than 8% in late morning trading on July 25.

Net income in the second quarter totaled $3 million, down 9.4% from the same period in 2007. Earnings per share of 28 cents beat expectations by four cents. Revenue dropped 0.8% to $27.8 million, but analysts expected about $26.5 million.

CPSI also now anticipates third quarter performance above previous expectations. The company projects earnings per share of 37-39 cents; 29 cents was the expectation. And projected revenue of $30-31.5 million is considerably above expectations of about $28 million.

More information is available at cpsinet.com.

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