Here are five things to know about Cerner’s Q1 2015 financial results.
1. Cerner’s reported total revenue for the first quarter was $996.1 million, a 27 percent increase from $784.8 million in revenues reported during the same time period last year. Despite the overall increase, total revenues were lower than expected following the company’s acquisition of Siemens and lower revenue in existing business.
2. Cerner’s net income for first quarter 2015 fell by 7 percent to $110.9 million, down from $119.5 million the same time period the previous year.
3. The company’s basic earnings per share slightly dipped from 34 cents in Q1 2014 to 32 cents in Q1 2015.
4. However, Cerner’s bookings for the quarter reached an all-time high of $1.2 billion, a 32 percent increase from the $910.2 million from the same time period the previous year.
5. Cerner’s future projections are optimistic. The company projects Q2 2015 revenues to land between $1.175 billion and $1.225 billion and full year revenues to land between $4.65 billion and $4.8 billion.
“Cerner’s first quarter results represent a solid start to the year,” said Neal Patterson, chairman, CEO and co-founder of Cerner. “With the exception of lower than expected revenue, all of our results were at or above expected levels, with bookings being particularly strong and representing an all-time high.”
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