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CERNER CORP. REPORTS RECORD RESULTS FOR FOURTH QUARTER AND YEAR; ANNOUNCES 2-FOR-1 STOCK SPLIT

 KANSAS CITY, Mo., Feb. 4 /PRNewswire/ -- Cerner Corp. (NASDAQ: CERN) today reported that for the fourth quarter ended Dec. 31, 1992, net earnings increased 31 percent to $3.3 million from $2.5 million in the year-ago quarter. Primary earnings per share increased 24 percent to $.46 per share from $.37 per share.
 For the 12 months ended Dec. 31, 1992, net earnings increased 112 percent to $9.9 million from $4.7 million. Primary earnings per share increased 99 percent to $1.39 per share from $.70 per share. Revenues increased 31 percent to $101.1 million from $77.2 million.
 Clifford W. Illig, president and chief operating officer, stated, "Our fourth quarter capped off a strong 1992 financial performance for Cerner and a year of noteworthy progress in further developing and strengthening the company as we pursue our strategy to position Cerner at the forefront of healthcare computing. A solid domestic performance, increasing international activity levels and contributions from our expanding product lines all helped account for an outstanding 1992."
 The company said a major component of fourth quarter and 1992 results was the significant increase in the financial contributions made by the existing client base. Revenues and gross profits from the company's recurring revenue stream increased 26 percent and 32 percent in the fourth quarter. For the year, recurring revenues contributed $26.7 million to revenues and $16.8 million to gross profits, increases of 28 percent and 35 percent respectively over 1991. Sales of incremental hardware and software to existing clients contributed $5.0 million to revenues and $3.0 million to gross profit in the quarter. For the year, revenues and gross profit associated with incremental hardware and software sales increased 52 percent and 139 percent respectively over 1991.
 Illig commented, "We completed 1992 having placed 90 clinical information systems with 65 different Cerner clients, including the 55 new clients added during the year. In 1992 we placed over 50 PathNet Laboratory Systems and effectively doubled the cumulative number of RadNet Radiology and PharmNet Pharmacy Systems sold to 29 and 33 respectively. The continued success of these products is opening additional opportunity for the sale of other stand-alone clinical information software applications as well as raising the awareness of the benefits of Cerner's comprehensive Healthcare Network Architecture (HNA) solution for enterprise-wide clinical information management."
 Illig added, "We also made good progress in 1992 toward our goal of implementing broad clinical systems that were sold during 1991. In July, we began field trials at The Emory Clinic of Cerner's Open Clinical Foundation (OCF) and PowerChart, which comprise the company's computer- based patient record that enables physicians and other medical staff to benefit from having immediate access to relevant patient information. On New Year's Day 1993, we converted our first ProNet Order Management System at Children's Medical Center of Dallas as part of the first installation of Cerner's enterprise-wide clinical information system. The Children's project represents the most complete implementation of HNA applications we have converted at one time. We are particularly pleased that this conversion occurred only 15 months after the contract was signed."
 Illig further commented, "Although still a relatively small percentage of the company's business, Cerner's international operations continue to exhibit very positive growth trends. In 1992, international operations contributed $5.8 million to company revenues and $3.8 million to gross profits, representing increases of 19 percent and 21 percent respectively over 1991. And most significantly, even after including the front-end costs of our startup activities, Cerner's international operations are profitable."
 Illig concluded, "During 1992 we also made significant progress in marketing and demonstrating the company's Healthcare Network Architecture (HNA) with the opening of the company's HNA Vision Center. It is through this center that Cerner explains its innovative approach to patient-focused clinical information management for healthcare institutions of all types." Neal L. Patterson, chairman and chief executive officer, added, "The Vision Center has significantly advanced the understanding of the value of Cerner's clinical systems and provides the healthcare industry with a compelling standard as to how clinical information systems should interrelate to present vital information to all care providers. We are proud of this center and through it are convinced that healthcare providers will gain a greater understanding of our HNA vision which we believe represents the future of healthcare computing."
 The company also announced that its board of directors has approved a 2-for-1 stock split of the company's common stock in the form of a 100 percent stock dividend. Each shareholder of record on Feb. 16, 1993, will receive one additional share of common stock for each share held on that date. The distribution date for the new shares will be Feb. 26, 1993. The stock split will increase the common shares outstanding to 12.8 million. In commenting on the split, Illig stated, "This is the second 2-for-1 stock split in the last year and reflects the continued demand for the company's stock based on the company's excellent operating results."
 Cerner is the leading developer of clinical information systems for the health care industry. All Cerner systems are designed around a central structure called Healthcare Network Architecture. Through HNA, Cerner is able to deliver application software products that serve the unique needs of each clinical discipline, while allowing unprecedented management and cross-disciplinary medical applications. Cerner offers products to an international marketplace including hospitals, managed care providers, clinics and reference laboratories.
 CERNER CORP. AND SUBSIDIARIES
 Condensed Summary Of Operations
 (In thousands, except per share amounts, unaudited)
 Three Months Ended 12 Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenues $26,889 $27,152 $101,145 $77,240
 Operating earnings 5,592 4,175 16,587 8,068
 Earnings before
 income taxes 5,541 4,112 16,293 7,552
 Income taxes 2,212 1,563 6,361 2,864
 Net earnings 3,329 2,549 9,932 4,688
 Primary earnings
 per share $.46 $.37 $1.39 $.70
 Fully diluted earnings
 per share $.46 $.37 $1.37 $.68
 Weighted average
 shares outstanding 7,235 6,900 7,170 6,718
 -0- 2/4/93
 /CONTACT: Clifford Illig, Cerner president and COO of Cerner Corp., 816-221-1024/
 (CERN)


CO: Cerner Corp. ST: Missouri IN: CPR SU: ERN

LD -- NY117 -- 3174 02/04/93 16:33 EST
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