Thursday, October 25, 2012

Cerner Corporation (NASDAQ:CERN) Jumps On Earnings Beat, Up 8.50%

Cerner Corporation(NASDAQ:CERN) shares popped up by 8.50% in extended trading on Thursday as the company has posted higher third quarter net income and revenue, topping analysts’ target.

The company earned $98.9 million or 56 cents a share, up from a year ago profit of $78.8 million or 45 cents a share. On an adjusted basis, the company earned 60 cents a share, ahead of analysts’ target by a penny.

Revenue also grew 18% year over year to $676.5 million, from $571.6 million in the year-ago period, topping analysts’ estimate by $24 million.

For the fourth quarter, the company projects to generate revenue of $670 million and $700 million and adjusted EPS of 62-64 cents a share. New business bookings are expected between $925 million and $975 million.

For the full year, the company projects to earn $2.34 and $2.36 on revenue of $2.63 billion and $2.66 billion.

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