Computer Programs and Systems: 1Q Earnings Snapshot
MOBILE, Ala. (AP) _ Computer Programs and Systems Inc. (CPSI) on Tuesday reported first-quarter net income of $4.1 million.
The Mobile, Alabama-based company said it had profit of 28 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 61 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The healthcare information technology company posted revenue of $69.8 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $69.3 million.
Computer Programs and Systems shares have decreased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.34, a decrease of 17% in the last 12 months.