Investors Like CPSI’s Quarter
After missing profit expectations for the two previous quarters, community hospital software vendor Computer Programs and Systems Inc. beat expectations in the second quarter of 2010. Consequently, the company’s stock price was up nearly 9 percent in morning trading on July 30.
After missing profit expectations for the two previous quarters, community hospital software vendor Computer Programs and Systems Inc. beat expectations in the second quarter of 2010. Consequently, the company's stock price was up nearly 9 percent in morning trading on July 30.
Mobile, Ala.-based CPSI had net income of $4.3 million for the quarter, up 20 percent from the same period a year ago. Earnings per share was 39 cents, 3 cents more than investment analysts expected. Quarterly revenue rose 22 percent to $37.7 million.
For the first half of 2010, net income decreased 5 percent to $7.2 million while revenue grew almost 14 percent to $69.3 million. More information is available at cpsinet.com.
--Joseph Goedert
Mobile, Ala.-based CPSI had net income of $4.3 million for the quarter, up 20 percent from the same period a year ago. Earnings per share was 39 cents, 3 cents more than investment analysts expected. Quarterly revenue rose 22 percent to $37.7 million.
For the first half of 2010, net income decreased 5 percent to $7.2 million while revenue grew almost 14 percent to $69.3 million. More information is available at cpsinet.com.
--Joseph Goedert