Cerner quarterly revenue grows 14%, profit grows 36%

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Though Cerner reported an increase in revenue in the first quarter of 2016 compared to the first quarter of 2015, revenue fell short of the company's guidance range.

Cerner reported $1.14 billion in revenue in the first quarter, a 14 percent year-over-year growth from $99.6 million during the same time last year. Revenue was approximately $10 million below Cerner's guidance range, which the company partially attributed to a decline in low-margin technology resale revenue.

Cerner posted $150 million in profit for the quarter, up 36 percent from the previous year's profit of $110 million.

"Our first quarter results reflect a good start to the year," said Zane Burke, Cerner president, in an earnings statement. "We continue to have great success at gaining new clients, which is a reflection of a robust replacement market and our competitiveness. We also had success at selling solutions beyond the EHR, with record levels of revenue cycle sales and continued success at selling our cloud-based HealtheIntent population health solutions both inside and outside our EHR installed base."

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