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Cerner: 1Q Earnings Snapshot

April 28, 2020 GMT

NORTH KANSAS CITY, Mo. (AP) _ Cerner Corp. (CERN) on Tuesday reported first-quarter net income of $147.2 million.

On a per-share basis, the North Kansas City, Missouri-based company said it had net income of 47 cents. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The health care information technology company posted revenue of $1.41 billion in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $1.43 billion.

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For the current quarter ending in July, Cerner expects its per-share earnings to range from 60 cents to 64 cents.

The company said it expects revenue in the range of $1.34 billion to $1.39 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.43 billion.

Cerner expects full-year earnings in the range of $2.78 to $2.90 per share, with revenue ranging from $5.55 billion to $5.7 billion.

Cerner shares have declined 2% since the beginning of the year, while the Standard & Poor’s 500 index has decreased 11%. In the final minutes of trading on Tuesday, shares hit $71.76, an increase of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CERN at https://www.zacks.com/ap/CERN