Cerner Corporation released its earnings report for the first quarter of 2016. The health IT company had a bit of good news—revenue increased when compared to the first quarter of 2015—along with a bit of bad—revenue fell short of projections and bookings remained flat.
Cerner reported overall revenue increased by 14 percent versus 2015, reaching $1.14 billion from $996 million. But due to declining margins in technology resale value, Cerner fell $10 million short of its projections for the quarter ending on April 2.
Cerner President Zane Burke pointed to growth in software, subscriptions and services as reasons for optimism.
"Our first-quarter results reflect a good start to the year,” Cerner President Zane Burke said in a release. “We continue to have great success at gaining new clients, which is a reflection of a robust replacement market and our competitiveness."
Cerner projects second quarter revenue between $1.175 and $1.25 billion and full-year revenue between $4.9 billion and $5.1 billion, consistent with last year’s figures.