Healthcare IT company Cerner saw first quarter profits grow by 23 percent in the first quarter of 2010 on strong levels of bookings and revenue.
Cerner posted net income of $50.3 million compared to the $40.8 million reported a year ago. Total revenues of $431 million represented a 10 percent increase over the $392 million reported in the first quarter of 2009. Bookings in the first quarter, which ended April 3, were $405 million, up 22 percent from the $333 million reported last year. This, Cerner said, represented an all-time high level of first quarter bookings.
The company attributed some of its strong first quarter showing to the healthcare IT demand created by the HITECH provisions of the American Recovery and Reinvestment Act of 2009.