S&P 500 (NYSE:SPY) component Cerner Corporation (NASDAQ:CERN) reported net income above Wall Street’s expectations for the second quarter. Cerner Corporation designs and supports healthcare devices, healthcare information technology and content solutions for organizations and consumers.

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Cerner Earnings Cheat Sheet for the Second Quarter

Results: Net income for Cerner Corporation rose to $72 million (42 cents per share) vs. $55.5 million (33 cents per share) in the same quarter a year earlier. This marks a rise of 29.9% from the year earlier quarter.

Revenue: Rose 15% to $524.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: CERN reported adjusted net income of 44 cents per share. By that measure, the company beat the mean estimate of 41 cents per share. Analysts were expecting revenue of $516.8 million.

Quoting Management: “I am very pleased with our second quarter results,” said Neal Patterson, Cerner chairman, CEO, president and co-founder. “Our outstanding bookings, revenue, earnings, and cash flow performance are evidence of a very strong market and Cerner’s leadership position. We expect our market opportunity to remain robust for years to come as we benefit from demand driven by stimulus, health care reform, and other regulatory requirements, such as ICD-10 codes, that can be addressed with our solutions and services. We are also making ongoing investments in new solutions and services that strengthen our alignment with our existing clients and also allow us to address new large market segments, such as employers. We believe these investments will increase Cerner’s role in transforming health care while also fueling another wave of growth beyond stimulus,” Patterson said.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 28.4% and in the fourth quarter of the last fiscal year, the figure rose 16.8%.

Revenue has risen the past four quarters. Revenue increased 14% to $491.7 million in the first quarter. The figure rose 7.3% in the fourth quarter of the last fiscal year from the year earlier and climbed 13% in the third quarter of the last fiscal year from the year-ago quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 2 cents in the first quarter and by one cent in the fourth quarter of the last fiscal year.

Competitors to Watch: Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), Mediware Info. Systems (NASDAQ:MEDW), CareFusion Corporation (NYSE:CFN), Quality Systems, Inc. (NASDAQ:QSII), Merge Healthcare Inc. (NASDAQ:MRGE), McKesson Corporation (NYSE:MCK), Streamline Health Solutions Inc. (NASDAQ:STRM), Aspyra Inc. (APYI), Omnicell, Inc. (NASDAQ:OMCL), and Computer Sciences Corp. (NYSE:CSC).

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(Source: Xignite Financials)

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