Health care information technology provider Cerner Corp. (NASDAQ: CERN – $66.43) reported third quarter revenue was $1.429 billion, an increase of 7% compared to $1.340 billion in the third quarter of 2018, and in line with the analyst and company forecasts. Adjusted earnings were $211.7 million, compared to $209.4 million in the third quarter of 2018. Adjusted earnings per share equaled $0.66 up 5% compared to the year-ago quarter and in line with expectations. Bookings in the third quarter of 2019 were at the high-end of the company’s earlier forecast at $1.651 billion and the current backlog of new orders stood at $13.31 billion as of September 30. Cerner recently announced plans to acquire AbleVets to add to its federal market place technology portfolio.
Looking toward the fourth period, Kansas City’s Cerner is forecasting revenue between $1.41 billion and $1.46 billion; adjusted earnings per share between $0.73 and $.075; and new business bookings between $1.45 billion and $1.65 billion. I am continuing to hold CERN in the aggressive portfolio for long-term growth.