Computer Programs and Systems, Inc. CPSI +3.41% , a leading provider of healthcare information solutions, today announced results for the fourth quarter and year ended December 31, 2011.
The Company also announced that its Board of Directors has declared a $0.10 per share increase in the regular quarterly cash dividend to $0.46 (forty-six cents) per share, payable on February 24, 2012, to stockholders of record as of the close of business on February 9, 2012.
Total revenues for the fourth quarter ended December 31, 2011, decreased 2.0% to $42.2 million, compared with total revenues of $43.1 million for the prior-year quarter. Net income for the quarter ended December 31, 2011, decreased 1.7% to $6.6 million, or $0.59 per diluted share, compared with $6.7 million, or $0.61 per diluted share, for the quarter ended December 31, 2010. Cash provided by operations for the fourth quarter of 2011 was $9.3 million, compared with $5.7 million for the prior-year quarter.
Total revenues for the year ended December 31, 2011, increased 13.2% to $173.5 million, compared with total revenues of $153.2 million for the prior year. Net income for the year ended December 31, 2011, increased 37.9% to $25.8 million, or $2.34 per diluted share, compared with $18.7 million, or $1.71 per diluted share, for the year ended December 31, 2010. Cash provided by operations for 2011 was $33.5 million, compared with $19.6 million for the prior year.
For 2012, the Company anticipates total revenues of $187 million to $199 million and net income of approximately $28.5 million to $30.5 million, or $2.59 to $2.75 per diluted share. CPSI’s 12-month backlog as of December 31, 2011, was $138 million, consisting of $35 million in non-recurring system purchases and $103 million in recurring payments for support, Business Management Services and SAAS contracts.
Source:http://www.marketwatch.com/story/computer-programs-and-systems-inc-announces-fourth-quarter-and-year-end-2011-results-2012-01-26
