Community hospital information systems vendor Computer Programs and Systems Inc. increased revenue during the fourth quarter of 2009 but had lower profits.
The Mobile, Ala.-based company reported fourth quarter net income of $3.6 million, down 26% compared with the same period a year earlier. Earnings per share of 33 cents were a nickel lower than investment analyst expectations, sending CPSI's stock price down 17% on Jan. 29. Quarterly revenue increased more than 5% to $33.8 million.
For all of 2009, CPSI had net income of $15.2 million, down 1.6% from the previous year. Annual revenue increased nearly 7% to $127.7 million. CEO Boyd Douglas says 2009 was a year of solid results despite the economy.
More information is available at cpsinet.com.
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