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Cerner Reports First Quarter 2016 Results

Shared by Radhika Narayanan | 0 0 0 | about 2 years ago

KANSAS CITY, Mo., May 05, 2016 (GLOBE NEWSWIRE) — Cerner Corporation (CERN) (Nasdaq:CERN) today announced results for the 2016 first quarter that ended April 2, 2016.

Bookings in the first quarter of 2016 were $1.17 billion, which is basically flat to the first quarter of 2015 in total, but reflects strong growth of 18% when long-term bookings, which were at an all-time high in the year-ago period, are excluded.

First quarter revenue was $1.14 billion, an increase of 14% compared to $996 million in the first quarter of 2015. First quarter revenue is approximately $10 million below the Company’s guidance range, largely due to a decline in low-margin technology resale revenue, which partially offset good growth in software, subscriptions and services.

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