Mixed Financial News from CPSI

Community hospital information systems vendor Computer Programs and Systems Inc. increased revenue during the fourth quarter of 2009 but had lower profits.


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.

--Joseph Goedert