Cerner hits all-time high on strong quarter

NEW YORK (AP) — Shares of Cerner Corp. jumped Friday after the electronic medical records company posted strong first-quarter results and increased contract bookings, and raised its expectations for the full year.

THE SPARK: Cerner provides electronic medical record systems and revenue management software for doctors and medical centers. It reported its quarterly results after the market closed on Thursday, saying its profit climbed 28 percent to $64.6 million, or 75 cents per share. A year ago Cerner earned $50.3 million, or 59 cents per share. Excluding stock-based compensation costs, the company said its profit rose to 80 cents per share. Its revenue increased 14 percent to $491.7 million from $431.3 million.