NEW YORK (AP) — Shares of Cerner Corp. jumped Friday after the electronic medical records company posted strong first-quarter results and increased contract bookings, and raised its expectations for the full year.
THE SPARK: Cerner provides electronic medical record systems and revenue management software for doctors and medical centers. It reported its quarterly results after the market closed on Thursday, saying its profit climbed 28 percent to $64.6 million, or 75 cents per share. A year ago Cerner earned $50.3 million, or 59 cents per share. Excluding stock-based compensation costs, the company said its profit rose to 80 cents per share. Its revenue increased 14 percent to $491.7 million from $431.3 million.
Analysts expected a profit of 77 cents per share and $485.8 million in revenue, according to FactSet.
The Kansas City, Mo., company said its revenue from system sales rose 20 percent to $140.4 million. Support, maintenance and service revenue increased 11 percent to $341 million.
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