Cerner Corp. (CERN) reported first-quarter GAAP net earnings of $110.0 million, or $0.62 per share, compared to $88.7 million, or $0.51 per share in the year-ago quarter.
On an adjusted basis, net earnings for quarter were $116.9 million or $0.66 per share, up from $94.2 million or $0.54 per share in the comparable quarter last year. On average, twenty analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, first quarter revenue was $680.03 million, up from $641.21 million in the prior year period, while eighteen analysts estimated revenues of $708.46 million for the quarter.
Moving forward, the company expects second quarter 2013 earnings per share before share based compensation expense between $0.66 and $0.68 and revenue between $705 million and $735 million. The Street expects the company to earn $0.68 on revenues of $729.55 million for the second quarter of 2013.
For the full year 2013, the company expects adjusted earnings per share before share based compensation expense to be between $2.78 and $2.83, and revenues to range between $2.95 billion and $3.05 billion.
Earlier, the company expected full year 2013 adjusted earnings to be between $2.75 to $2.82 per share.
Analysts expect the company to report earnings of $2.80 per share on revenues of $3.01 billion for fiscal 2013.
In addition, the company said it sees share based compensation expense to reduce diluted earnings per share by approximately $0.04 to $0.05 in the second quarter and between $0.17 and $0.18 for the year.
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