Upcoming AWS Coverage on Veeva Systems Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 13, 2017 / Active Wall St. announces its post-earnings coverage on Cerner Corp. (NASDAQ: CERN). The Company announced its fourth quarter and fiscal year 2016 results on February 09, 2017. The health-care information technology firm's adjusted earnings came in flat compared to the year ago same quarter and met market expectations. Register with us now for your free membership at:

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One of Cerner's competitors within the Healthcare Information Services space, Veeva Systems Inc. (NYSE: VEEV), announced on February 03, 2017, that it will release its financial results for its fiscal fourth quarter and full fiscal year which ended January 31, 2017 after market close on February 28, 2017. Veeva will host a conference call and webcast that day at 4:30 p.m. ET to discuss its financial results. AWS will be initiating a research report on Veeva Systems in the coming days.

Today, AWS is promoting its earnings coverage on CERN; touching on VEEV. Get our free coverage by signing up to:

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Earnings Reviewed

For the three months ended December 31, 2016, Cerner reported revenue of $1.26 billion, an increase of 7% compared to $1.18 billion in the year ago same period. Revenue was also within the Company's guidance range, while also meeting analysts' consensus estimates. For FY16, Cerner reported revenue of $4.80 billion, up 8% compared to FY15 revenue of $4.43 billion.

During Q4 2016, Cerner reported that bookings increased by 7% to $1.44 billion compared to $1.35 billion in Q4 2015 and within the Company's projection range of $1.43 billion to $1.58 billion. Cerner's FY16 bookings were a record $5.45 billion, up slightly compared to FY15 bookings of $5.43 billion.

For Q4 2016, on a GAAP basis, Cerner reported net earnings of $149.7 million and diluted earnings per share of $0.44 compared to GAAP net earnings of $166.1 million and diluted earnings per share of $0.48 in Q4 2015. Excluding stock-based compensation, acquisition-related charges and other items, the Company reported net earnings of $206.2 million, or $0.61 per adjusted diluted share, compared to adjusted net earnings of $212.3 million, or $0.61 per diluted share, in the year earlier corresponding quarter and within the Company's guidance range. Analysts' consensus estimates for Q4 2016 adjusted diluted earnings per share was $0.61. For FY16, Cerner's GAAP net earnings were $636.5 million and diluted earnings per share were $1.85 compared to FY15 net earnings of $539.4 million and diluted earnings per share of $1.54 for FY15.

Cash Flow & Balance Sheet

Cerner reported Q4 2016 operating cash flow of $333.2 million and for FY16 of $1.156 billion. For the reported quarter, the Company's free cash flow was $136.8 million and for FY16, it totaled $402.5 million. For Q4 2016, Cerner's days sales outstanding were 69 days, down from 80 days in the year-ago same period. Total backlog was $15.927 billion for Q4 2016, up 12% over the year ago comparable quarter. As of December 31, 2016, Cerner had cash and cash equivalents of $170.86 million compared to cash and cash equivalents of $402.12 million on December 31, 2015. Long-term debt and capital lease obligations for the Company stood at $537.55 million at the end of Q4 2016.

Outlook

For Q1 2017, the Company is expecting revenue between $1.200 billion and $1.275 billion. For FY17, the Company expects revenue between $5.100 billion and $5.300 billion. Cerner is forecasting Q1 2017 adjusted earnings per share between $0.57 and $0.59. For FY17, adjusted earnings per share are forecasted within the band of $2.44 and $2.56. For Q1 2017, Cerner is anticipating new business bookings in the band of $1.125 billion and $1.275 billion.

Stock Performance

At the close of trading session on Friday, February 10, 2017, Cerner's stock price declined 4.42% to end the day at $51.50. A total volume of 8.31 million shares were exchanged during the session, which was above the 3-month average volume of 3.27 million shares. The Company's share price has gained 1.96% in the past one month and 8.72% on YTD basis. The stock currently has a market cap of $17.47 billion. Additionally, shares of the company have a PE ratio of 27.26.

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SOURCE: Active Wall Street