Annual shareholders meeting

Cerner Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s revenue was $680,029,000 compared to $641,212,000 in the year-ago period. Operating earnings were $156,569,000 against $127,439,000 a year ago. Earnings before income taxes were $159,613,000 against $130,063,000 a year ago. Net earnings were $110,040,000 or $0.62 diluted earnings per share against $88,708,000 or $0.51 diluted earnings per share a year ago. Adjusted net earnings were $116,910,000 against $94,234,000 a year ago. Adjusted diluted earnings per share were $0.66 compared to $0.54 a year ago. Cash flows from operating activities were $213,648,000 against $162,708,000 a year ago. Free cash flow (non-GAAP) was $129,863,000 against $113,265,000 a year ago. Capital purchases were $49,451,000 compared to $26,363,000 for the same period a year ago. The company provided earnings guidance for the second quarter of 2013. It currently expects revenue between $705 million and $735 million, adjusted diluted earnings per share before share based compensation expense between $0.66 and $0.68. The slightly wider revenue guidance range accounts for a wider range of results in technology resale that reflect expected ongoing strength in other areas. The company revised earnings guidance for the full year of 2013. For the full-year 2013, the company expects revenue between $2.95 billion and $3.05 billion. Adjusted diluted earnings per share before share based compensation expense are expected between $2.78 and $2.83, up from a prior range of $2.75 to $2.82. For the remainder of 2013, the company expects effective tax rate to be approximately 34% plus or minus 50 basis points. Looking at the remainder of 2013, the company expects quarterly capital expenditures to be in the $50 million to $60 million range as construction of additional space at its new Kansas City Kansas campus continues. At these levels, the company still expects to generate good levels of free cash flow.

Cerner and Ciber announced a joint effort to deliver a full suite of Infor application management and hosting services for health care organizations. The two companies will offer best in breed solutions for Infor applications including application management, implementation, upgrades, and hosting services. The alignment will provide additional value for clients of both companies by augmenting existing service offerings. Cerner's "Best in KLAS" hosting services, combined with Ciber's expertise in managing, implementing and upgrading Infor applications, will allow clients to sustain the power and value of their investment in Infor software without needing to provide in-house resources to manage and support the applications. Cerner chose to join with Ciber based on their more than 20 years of experience with Infor in the health care industry.