Cerner (CERN) Tops Q2 EPS by 1c, Guides In-line for Q3 and FY08

July 22, 2008 4:14 PM EDT

Cerner Corporation (Nasdaq: CERN) reports Q2 adjusted non-GAAP EPS of $0.51, 1 cent better than the analyst estimate of $0.50. Revenues for the quarter were $402.8 million, versus the consensus of $399.30 million.

The company expects revenue in the third quarter of 2008 to be approximately $410 million to $425 million. For the year 2008, Cerner continues to expect revenue growth of approximately 10% over 2007. (Q3 revenue consensus is $424.12 million)

Cerner expects adjusted diluted earnings per share before stock options expense in the third quarter to be between $0.55 and $0.56. For the year, the Company remains comfortable with the current consensus EPS of $2.17, which is before options expense and the third party supplier settlement, plus the $0.01 over-attainment this quarter, leading to an estimate of $2.18. (Q3 EPS consensus is $0.56 and FY08 EPS consensus is $2.17)

The company expects SFAS No. 123R share-based compensation expense to reduce diluted earnings per share in the third quarter and full year by approximately $0.03 and $0.12, respectively.

Cerner Corporation provides healthcare information technology solutions, healthcare devices, and related services in the Americas, Europe, the Middle East, and the Asia Pacific region.

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