The stock price of Cerner Corp. rose slightly during early trading on Feb. 10 after the software vendor reported lower earnings in the fourth quarter of 2009 that still beat investment analyst expectations.
Kansas City, Mo.-based Cerner had fourth quarter net income of $60.5 million, down 15 percent from the same period a year ago. Adjusted earnings per share of 75 cents were three cents higher than anticipated. Quarterly revenue totaled $466.3 million, flat compared with the fourth quarter of 2008 that included a one-time "catch up" of $28.6 million in revenue from Cerner's National Health Service contract in England. Absent that payment, 2009 fourth quarter revenue increased by seven percent.
For all of 2009, Cerner had net income of $193.5 million, up 2.5 percent. Annual revenue was flat at $1.67 billion, but up 1.5 percent excluding the National Health Service catch-up payment. More information is available at cerner.com.
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