Cerner Corporation (NASDAQ:CERN) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the healthcare information services company rose to $91.2 million (52 cents per share) vs. $70.6 million (41 cents per share) in the same quarter a year earlier. This marks a rise of 29.1% from the year earlier quarter. Revenue rose 23.1% to $615.6 million from the year earlier quarter. Cerner Corporation reported adjusted net income of 55 cents per share. By that measure, the company beat the mean estimate of 50 cents per share. It beat the average revenue estimate of $586.8 million.
“We delivered outstanding results in Q4 and for the year 2011, including record bookings, revenue, earnings and cash flow,” Neal Patterson, Cerner chairman, CEO, president and co-founder said. “We expect to continue to see a strong market for health care IT solutions and services for years to come as the health care industry undergoes a transition from paper to digital records and shifts from volume-based payment programs to programs based on measurements of quality and outcomes.”
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).
Life Technologies Corporation (NASDAQ:LIFE) reported its results for the fourth quarter. Net income for the biotechnology company rose to $127.4 million (69 cents per share) vs. $70.7 million (37 cents per share) in the same quarter a year earlier. This marks a rise of 80.2% from the year earlier quarter. Revenue rose 8.4% to $1.01 billion from the year earlier quarter. Life Technologies Corporation reported adjusted earnings of $1.06, which beat the mean analyst estimate of $1.03 per share. It beat the average revenue estimate of $967.7 million.
“I am pleased with our performance in the fourth quarter and throughout 2011, even as we faced a number of challenges, including macroeconomic headwinds and constrained spending by some of our customers,” said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. “Overcoming these obstacles, we delivered top line growth, reduced our operating costs to meet the slower growth environment and expanded our operating margins an impressive 110 basis points, all of which we leveraged to deliver bottom line growth for the twelfth consecutive year.”
Competitors to Watch: Techne Corporation (NASDAQ:TECH), Qiagen NV (NASDAQ:QGEN), Affymetrix, Inc. (NASDAQ:AFFX), Sigma-Aldrich Corporation (NASDAQ:SIAL), Thermo Fisher Scientific Inc. (NYSE:TMO), Strategic Diagnostics Inc. (NASDAQ:SDIX), Agilent Technologies Inc. (NYSE:A), Bio-Rad Laboratories, Inc. (NYSE:BIO), PerkinElmer, Inc. (NYSE:PKI), and Johnson &Johnson (NYSE:JNJ).
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com