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, 2011.
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 26, 2011, to stockholders of record as of the close of business on August 11, 2011.
Total revenues for the second quarter ended June 30, 2011, increased 29.5% to $48.8 million, compared with total revenues of $37.7 million for the prior-year period. Net income for the quarter ended June 30, 2011, increased 85.6% to $7.9 million, or $0.72 per diluted share, compared with $4.3 million, or $0.39 per diluted share, for the quarter ended June 30, 2010. Cash provided by operations for the second quarter of 2011 was $2.8 million, compared with $2.8 million for the prior-year period.
Total revenues for the six months ended June 30, 2011, increased 28.8% to $89.2 million, compared with total revenues of $69.3 million for the prior-year period. Net income for the six months ended June 30, 2011, increased 85.0% to $13.3 million, or $1.21 per diluted share, compared with $7.2 million, or $0.66 per diluted share, for the six months ended June 30, 2010. Cash provided by operations for the first half of 2011 was $17.1 million, compared with $8.6 million for the prior-year period.
For the third quarter of 2011, the Company anticipates total revenues of $44.0 million to $47.0 million and net income of approximately $6.3 million to $6.7 million, or $0.57 to $0.61 per diluted share. CPSI’s 12-month backlog as of June 30, 2011, was $129.0 million, consisting of $31.0 million in non-recurring system purchases and $98.0 million in recurring payments for support, Business Management Services, ASP and ISP contracts.
A listen-only simulcast and replay of CPSI’s second quarter 2011 conference call will be available on-line at www.cpsinet.com and www.earnings.com on July 29, 2011, beginning at 9:00 a.m. Eastern Time.
Source:http://www.bradenton.com/2011/07/28/3381997/computer-programs-and-systems.html
