Healthcare IT developer Cerner reported robust revenue growth and a strong upswing in earnings in finanical results for its fiscal 2008 fourth quarter, which ended Jan. 3.
On a generally accepted accounting principles (GAAP) basis, fourth quarter 2008 net earnings were $71.5 million, a strong uptick compared with fourth quarter 2007 GAAP net earnings of $41.3 million.
The Kansas City, Mo.-based Cerner said its bookings in the fourth quarter of 2008 were $404.9 million, down slightly from the $406.6 million shown in fourth quarter 2007 bookings.
The firm said its fourth quarter revenue increased 18 percent over the year-ago period, to $465.7 million. Cerner also logged at total revenue backlog of $3.5 billion, $2.9 billion in contract backlog and $600 million in support and maintenance backlog, whihc is a 7 percent increase over the same period last year.
"We are pleased with our fourth quarter and full-year 2008 results, which reflect good execution in a challenging economic environment," said Neal Patterson, Cerner's co-founder, chairman and CEO. "We delivered solid bookings, revenue and earnings and record levels of cash flow."