Cerner increases revenues, but earnings slip

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Strong cash collections helped Cerner Corp. post greater revenues in the third quarter.

Revenues rose 5 percent to $206.3 million, compared with $197 million in the third quarter of 2002. Earnings dipped to $12 million, compared with $13.8 million in the year-ago quarter. For the nine-month period, revenues climbed to $612.2 million, up from $565.2 million the same period of last year. Net income dipped to $26.6 million, compared with $36.1 million in the year-ago period. Cerner also noted that it expects revenues in 2004 will total between $910 million and $930 million.