Computer Programs and Systems, Inc. (NASDAQ: CPSI):
Second Quarter Highlights:
- Revenues of $37.7 million;
- 12-month backlog of $120.4 million;
- Earnings per diluted share of $0.39;
- Cash provided by operations of $2.8 million; and
- Quarterly dividend of $0.36 per share.
Computer Programs and Systems, Inc. (NASDAQ: CPSI), a leading provider of healthcare information solutions, today announced results for the second quarter and six months ended June 30, 2010.
The Company also announced that its Board of Directors has declared a regular quarterly cash dividend of $0.36 (thirty-six cents) per share, payable on August 27, 2010, to stockholders of record as of the close of business on August 12, 2010.
Total revenues for the second quarter ended June 30, 2010, increased 22.3% to $37.7 million, compared with total revenues of $30.8 million for the prior-year period. Net income for the quarter ended June 30, 2010, increased 20.4% to $4.3 million, or $0.39 per diluted share, compared with $3.5 million, or $0.32 per diluted share, for the quarter ended June 30, 2009. Cash provided by operations for the second quarter of 2010 was $2.8 million, compared with $3.7 million of cash provided by operations for the prior-year period.
Total revenues for the six months ended June 30, 2010, increased 13.6% to $69.3 million, compared with total revenues of $61.0 million for the prior-year period. Net income for the six months ended June 30, 2010, decreased slightly to $7.2 million, or $0.66 per diluted share, compared with $7.6 million, or $0.69 per diluted share, for the six months ended June 30, 2009. Cash provided by operations for the first half of 2010 was $8.6 million, compared with $7.4 million for the prior-year period.
For the third quarter of 2010, the Company anticipates total revenues of $36 million to $39 million and net income of approximately $4.3 million to $4.7 million, or $0.39 to $0.43 per diluted share. CPSI's 12-month backlog as of June 30, 2010, was $120.4 million, consisting of $31.4 million in non-recurring system purchases and $89 million in recurring payments for support, Business Management Services, ASP and ISP contracts.
SOURCE Computer Programs and Systems, Inc.