Cerner revenue rose 4% in 2018: 5 things to know

Cerner released its earnings results for its 2018 fiscal year on Feb. 5, 2019, posting a 4 percent rise in revenue.

Five things to know about the Kansas City, Mo.-based EHR vendor's financial performance:

1. Cerner reported $5.4 billion in revenue for the year, up 4 percent from $5.1 billion in 2017.

2. Professional services accounted for most of Cerner's earnings in 2018 at $1.8 billion, up 14 percent from 2017. Other major revenue drivers included managed services ($1.2 billion) and support and maintenance ($1.1 billion).

3. Cerner's bookings for 2018 hit $6.7 billion, up 6 percent from one year prior. The fourth quarter of 2018 represented the second-highest quarterly bookings result in the company's history at $2 billion.

4. The company posted $774.8 million in operating earnings, down 19 percent from $960.5 million in 2017.

5. Cerner expects its revenue for its 2019 fiscal year to be in the range of $5.65 billion to $5.85 billion.

"We finished the year on a solid note and in line with full-year expectations," said Brent Shafer, who joined Cerner as chairman and CEO in February 2018. "After one year at Cerner, I have confirmed my initial view that we have significant opportunity to grow and create value in healthcare, and we are refining our operating model so we can innovate at scale, deliver value to clients faster and grow profitably."

More articles on EHRs and interoperability:
Meditech's revenue up 2% in 2018: 4 notes
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