UPDATE 1-Cerner posts higher Q2 earnings; sets Q3 view

Tue Jul 24, 2007 6:53pm EDT
 
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(Adds Q3 outlook, details)

July 24 (Reuters) - Cerner Corp. (CERN.O) reported higher quarterly results on increased bookings and forecast third-quarter earnings range that was broadly in line with analysts' expectations.

For the second quarter, the healthcare information technology company posted net income of $31.1 million, or 37 cents a share, on revenue of $386.6 million.

The company had reported net income of $23.9 million, or 29 cents a share, on revenue of $330.6 million in the year-ago period.

Cerner posted adjusted earnings of 41 cents a share in the second quarter.

Analysts were expecting earnings of 37 cents a share, including stock option expense, on revenue of $376.1 million for the quarter, according to Reuters Estimates.

Bookings in the quarter rose 56 percent to $486.8 million in the year-ago period.

For the third quarter, it sees adjusted earnings of between 40 cents and 41 cents a share on revenue of about $385 million to $395 million. Adjusted earnings for the period are seen in the range of 44 cents to 45 cents a share.

Analysts expect earnings of 41 cents a share, including stock option expense, on revenue of $391.6 million.

The company expects new business bookings in the third quarter to be between $365 million and $380 million. (Reporting by Neha Pathania in Bangalore)

 

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