Healthcare information systems provider Cerner of Kansas City, MO, reported strong revenues and cash flow for its fiscal 2005 first quarter (end-April 2).
For the period, the company posted total revenues of $262.5 million, a strong 20% upswing compared with the $218.7 million booked in the same period the year before. The firm noted that its first-quarter 2005 revenues included $17.3 million from the acquisition of the medical division of VitalWorks, which closed on January 3 this year.
Cerner's net earnings for the quarter were $12.5 million, down a bit from the $14.1 million in net earnings in the first quarter of 2005. The first quarter of 2005 included a charge of $6.4 million for the write-off of acquired in-process research and development related to the acquisition of the medical division of VitalWorks, Cerner noted.
The company expects second-quarter 2005 revenues of approximately $265 million to $270 million. Cerner said it expects new business bookings in the second quarter to be between $235 million and $250 million.
By AuntMinnie.com staff writers
April 22, 2005
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