Cerner (CERN) Reports In-Line Q3 EPS, Offers Q4 and FY16 Guidance
Cerner (NASDAQ: CERN) reported Q3 EPS of $0.54, in-line with the analyst estimate of $0.54. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.17 billion.
Cerner sees Q4 2015 EPS of $0.56-$0.58, versus the consensus of $0.61. Cerner sees Q4 2015 revenue of $1.15-1.20 billion, versus the consensus of $1.24 billion.
Preliminary Comments on 2016
Cerner is also providing preliminary comments on expected 2016 results. Note that these comments should be viewed as preliminary until the Company finalizes its financial plan and provides formal guidance when it reports fourth quarter results. Cerner currently expects 2016 revenue to be over $5 billion, which equates to growth of at least 13% on top of what is projected to be approximately 30% growth in 2015. Cerner currently expects 2016 adjusted diluted earnings per share before share-based compensation and acquisition-related adjustments between $2.30 and $2.40 cents per share, with the midpoint reflecting 13 percent growth over 2015 expected results. This range is below the current consensus estimate of $2.52, which was formed in the absence of Company guidance. Cerner believes the primary potential differences between this preliminary view and the consensus estimate may include higher non-cash expenses and professional services contributions.
(Street sees FY16 EPS of $2.53 on revenue of $5.12 billion)
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