Health-tech powerhouse Cerner Corp. closed out 2014 with double- and triple-digit quarterly increases in revenue, net income and earnings per share in its fourth quarter and entire fiscal year. The positive results do not include financials from Cerner’s recently completed acquisition of a Siemens healthcare information technology business unit.
“Overall, we had a solid Q4, a very strong year and a good outlook for 2015 and beyond,” Marc Naughton, executive vice president and chief financial officer, said during an earnings call after the market closed. Cerner shares were up 0.81% on the day, closing at $67.41.
Revenue for the 2014 fourth quarter rose 16.4% to $926 million, up from $795.3 million for the period in 2013. For the year, revenue were up 16.9% to $3.4 billion from $2.9 billion in 2013.
Net income for the 2014 fourth quarter jumped 146% to $147.9 million, up from $60.1 million in the 2013 third quarter. Net income for the year rose 31.9%, to $525.4 million in 2014 from $398.4 million in 2013.
Cerner this month closed on its $1.3 billion acquisition of Siemens Health Services, the Malvern, Pa.-based health technology division of German conglomerate Siemens. The deal was announced last August. The acquisition did not have an impact on Cerner revenues for the fourth quarter.
