“On the heels of CEO Brent Shafer’s one-year work anniversary, Cerner announced its second-highest quarterly bookings in the company’s history, partially due to contracts with the U.S. Department of Veterans Affairs.”
“The North Kansas City-based health IT company (Nasdaq: CERN) attributed its strong fourht-quarter bookings revenue to six “uniquely large” contracts, each worth more than $75 million. Bookings, which are strong indicators of future business, reached $1.96 billion for the quarter, and full-year bookings hit a record $6.72 billion…”
“Revenue from the VA was more than $250 million in 2018. Assuming revenue from the contract increases at the same rate during the next four years, CFO Marc Naughton said Cerner expects total revenue of $1 billion in 2022…”
“Although the VA contracts contributed to the bookings revenue, it’s difficult to pinpoint…” Read the full article here.
Source: Cerner: VA contract contributed $250M to bookings revenue – By Lily Lieberman, February 6, 2019. Kansas City Business Journal.
