Thanks to Meaningful Use, Cerner’s Revenue Surges

June 25, 2013
Attributing the growth to meaningful use requirements, Cerner Corporation (Kansas City) announced its 2012 first quarter financials, with its revenue, bookings, and net earnings increasing steadily year-over-year. First quarter revenue was $641.2 million, an increase of 30 percent compared to $491.7 million in the year-ago period. Bookings, or funds from future customers, were $652.3 million, which Cerner says was an all-time high for a first quarter and an increase of 24 percent compared to first quarter 2011 bookings of $524.9 million.

Attributing the growth to meaningful use requirements, Cerner Corporation (Kansas City) announced its 2012 first quarter financials, with its revenue, bookings, and net earnings increasing steadily year-over-year. First quarter revenue was $641.2 million, an increase of 30 percent compared to $491.7 million in the year-ago period. Bookings, or funds from future customers, were $652.3 million, which Cerner says was an all-time high for a first quarter and an increase of 24 percent compared to first quarter 2011 bookings of $524.9 million.

First quarter 2012 net earnings were $88.7 million and diluted earnings per share were $0.51. First quarter 2011 GAAP net earnings were $64.6 million and diluted earnings per share were $0.37. The company’s stock rose 1.46 percent, or $1.06 per share, in after-hours trading, upon news of the earnings. Cerner

 “Meaningful Use requirements included in the HITECH (The Health Information Technology for Economic and Clinical Health) Act continue to drive a wave of adoption in our client base and significant opportunities to establish new footprints,” Neal Patterson, Cerner chairman, CEO, president and co-founder, said in a statement.  

Patterson also said Cerner is “investing heavily in solutions and services that position Cerner for growth beyond Meaningful Use.”  He pointed to Cerner’s opportunities in data analytics and population health management as examples of this.

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