Cerner Q2 Profit Rises - Quick Facts

(RTTNews) - Cerner Corp. (CERN) reported second-quarter net earnings of $112.9 million or $0.32 per share, compared to $97.8 million or $0.28 per share, last year. Adjusted net earnings were $119.6 million, an increase of 16 percent compared to $103.1 million in the second quarter of 2012. Adjusted earnings per share were $0.34, compared to $0.29 a year-ago.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue was $707.6 million, an increase of 11 percent compared to $637.4 million in the year-ago period. The company said revenue growth was at the low end of its expectations due to reduced levels of low-margin technology resale. Analysts expected revenue of $725.71 million for the quarter.

Cerner currently expects its third-quarter revenue between $740 million and $770 million, and adjusted earnings per share before share-based compensation expense between $0.35 and $0.36. Analysts expect the company to report third-quarter profit per share of $0.36 on revenue of $768.35 million. The company expects its full year 2013 revenue between $2.95 billion and $3.05 billion, and adjusted earnings per share before share-based compensation expense between $1.40 and $1.42, up from a prior range of $1.39 to $1.42. Analysts expect the company to report fiscal 2013 profit per share of $1.41 on revenue of $2.94 billion.