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Cerner Corp (CERN) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

Cerner Corp

CIK: 804753 Ticker: CERN


Exhibit 99.1

Cerner Reports Third Quarter 2018 Results

KANSAS CITY, Mo. - October 25, 2018 -
Cerner Corporation (Nasdaq: CERN) today announced results for the 2018 third quarter that ended September 29, 2018.

Bookings in the third quarter of 2018 were $1.588 billion, an increase of 43 percent compared to $1.111 billion in the third quarter of 2017.

Third quarter revenue was $1.340 billion, an increase of 5 percent compared to $1.276 billion in the third quarter of 2017.

On a U.S. Generally Accepted Accounting Principles (GAAP) basis, third quarter 2018 net earnings were $169.4 million and diluted earnings per share were $0.51. Third quarter 2017 GAAP net earnings were $177.4 million and diluted earnings per share were $0.52.

Adjusted Net Earnings for third quarter 2018 were $209.4 million, compared to $205.9 million of Adjusted Net Earnings in the third quarter of 2017. Adjusted Diluted Earnings Per Share were $0.63 in the third quarter of 2018 compared to $0.61 of Adjusted Diluted Earnings Per Share in the year-ago quarter. Analysts’ consensus estimate for third quarter 2018 Adjusted Diluted Earnings Per Share was $0.63.

Adjusted Net Earnings and Adjusted Diluted Earnings Per Share are not recognized terms under GAAP. These non-GAAP financial measures should not be substituted for GAAP net earnings or GAAP diluted earnings per share, respectively, as measures of Cerner’s performance, but instead should be utilized as supplemental measures of financial performance in evaluating our business. Please see the accompanying schedule, titled “Reconciliation of GAAP Results to Non-GAAP Results,” where our non-GAAP financial measures are defined and reconciled to the most comparable GAAP measures.

Other Highlights:

Third quarter operating cash flow of $338.5 million.

Third quarter Free Cash Flow of $155.3 million. Free Cash Flow is a non-GAAP financial measure defined as GAAP cash flows from operating activities less capital purchases and capitalized software development costs. Please see the accompanying schedule, titled “Reconciliation of GAAP Results to Non-GAAP Results.”

Third quarter days sales outstanding of 82 days, up from 73 days in the year-ago period.

Total backlog of $14.70 billion.

“Our third quarter results were solid, with all key metrics in our expected ranges,” said John Peterzalek, Chief Client Officer. “We remain optimistic about our ability to continue delivering solid results and good growth over the long term as health care is still in the early stages of driving value from digitization. We believe we are in a great position to play a significant role in helping health care stakeholders move towards a more efficient and higher quality system of care.”




The following information was filed by Cerner Corp (CERN) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cerner Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Contingencies
Earnings Per Share
Earnings Per Share (Narrative) (Details)
Earnings Per Share (Reconciliation Of The Numerators And The Denominators Of The Basic And Diluted Per Share) (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Fair Value Measurements Fair Value, Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Income Taxes
Income Taxes (Details)
Indebtedness (Details)
Indebtedness (Notes)
Indebtedness (Schedule Of Indebtedness Outstanding) (Details)
Indebtedness (Tables)
Interim Statement Presentation (Notes)
Interim Statement Presentation Policies (Details)
Interim Statement Presentation Supplemental Cash Flow Information (Details)
Interim Statement Presentation Supplemental Cash Flow Information (Tables)
Investments
Investments (Details)
Investments (Narrative) (Details)
Investments Investments (Tables)
Receivables
Receivables (Narrative) (Details)
Receivables (Summary Of Net Receivables) (Details)
Receivables (Tables)
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Notes)
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers Cumulative Effect Transition (Details)
Revenue From Contracts With Customers Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers Performance Obligation (Details)
Segment Reporting
Segment Reporting (Summary Of The Operating Information) (Details)
Segment Reporting (Tables)
Share-Based Compensation
Share-Based Compensation (Compensation Expense Recognized In The Condensed Consolidated Statements Of Operations) (Details)
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Schedule Of Non-Vested Shares Activity) (Details)
Share-Based Compensation (Schedule Of Share-Based Payment Award, Stock Options, Valuation Assumptions) (Details)
Share-Based Compensation (Schedule Of Stock Options Activity) (Details)
Share-Based Compensation (Tables)
Ticker: CERN
CIK: 804753
Form Type: 10-Q Quarterly Report
Accession Number: 0000804753-18-000039
Submitted to the SEC: Fri Oct 26 2018 12:03:28 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Saturday, September 29, 2018
Industry: Computer Integrated Systems Design

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