Healthcare information systems developer Cerner of Kansas City, MO, reported strong revenue growth in the company's fiscal 2006 third quarter (end-September 30).
For the period, third-quarter revenues increased 17% to $345.5 million, compared with $294.6 million in the same quarter in fiscal 2005. On a generally accepted accounting principles (GAAP) basis, third-quarter 2006 net earnings were $26.7 million, holding steady compared with third-quarter 2005 GAAP net earnings of $26.6 million.
New business bookings in the quarter were $352.1 million, a 17% gain over the third quarter of 2005 bookings of $301.1 million, excluding a $149.4 million booking in the third quarter of 2005 related to the U.K. National Health Service initiative to automate clinical processes and digitize medical records in the Southern Cluster of England.
The firm said that it expects revenue in the fourth quarter of 2006 to be approximately $355 million to $365 million. This equates to 2006 full-year revenue in a range of $1.35 billion to $1.36 billion, reflecting approximately 17% growth over 2005, and higher than the previous range of $1.32 billion to $1.35 billion.
By AuntMinnie.com staff writers
October 20, 2006
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