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Cerner Reports Fourth Quarter 2012 Results

KANSAS CITY, Mo., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Cerner Corporation (Nasdaq:CERN) today announced results for the 2012 fourth quarter and full year that ended December 29, 2012, delivering strong levels of bookings, revenue, earnings and cash flow.

Bookings in the fourth quarter of 2012 were $1.02 billion, an all-time high and an increase of 13 percent compared to fourth quarter 2011 bookings of $899.0 million. Full year 2012 bookings were a record $3.14 billion, up 15 percent compared to 2011 bookings of $2.72 billion.

Fourth quarter revenue was a record $710.4 million, an increase of 15 percent compared to $615.6 million in the year-ago period. Full year 2012 revenue was $2.67 billion, up 21 percent compared to 2011 revenue of $2.20 billion.

On a U.S. Generally Accepted Accounting Principles (GAAP) basis, fourth quarter 2012 net earnings were $111.8 million and diluted earnings per share were $0.63. Fourth quarter 2011 GAAP net earnings were $91.2 million and diluted earnings per share were $0.52. For the full year, 2012 GAAP net earnings were $397.2 million and diluted earnings per share were $2.26. Full year 2011 GAAP net earnings were $306.6 million and diluted earnings per share were $1.76.

Adjusted (non-GAAP) Net Earnings

Adjusted net earnings for fourth quarter 2012 were $118.2 million, an increase of 23 percent compared to $96.2 million of adjusted net earnings in the fourth quarter of 2011. Adjusted diluted earnings per share were $0.67 in the fourth quarter of 2012 compared to $0.55 of adjusted diluted earnings per share in the year-ago quarter. Analysts' consensus estimate for fourth quarter 2012 adjusted diluted earnings per share was $0.64. For the full year 2012, adjusted net earnings were $420.8 million and adjusted diluted earnings per share were $2.39, compared to full year 2011 adjusted net earnings of $324.9 million and adjusted diluted earnings per share of $1.87.

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