The stock price of Cerner Corp. rose about three percent on July 29 after the Kansas City-based vendor reported second quarter financial results that exceeded investment analysts' expectations.
Kansas City, Mo.-based Cerner had second quarter net income of $55.5 million, a 27 percent increase compared with the same period a year ago. Earnings per share of 69 cents beat expectations by a penny. Quarterly revenue rose 13 percent to $456 million, nearly $7 million more than expected.
Cerner also had strong bookings during the quarter, which it attributed, in part, to demand to comply with HITECH Act provisions including the meaningful use incentives programs. For the first half of 2010, the company saw net income increase by 25 percent to $105.8 million, as revenue rose 11% to $887.3 million. More information is available at cerner.com.
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