North Kansas City, Missouri — After releasing financial reports on the second quarter of 2019, Cerner Corp. reported operating cash flow to be $206.8 million, while the free cash flow stood at negative $22.2 million.
In their latest release of earnings, the company stated that the lower-than-usual free and operating cash flow were a consequence of the expenses the company had in the second quarter. Namely, they worked on higher capital spending on managed services growth. Moreover, there were significant expenses on operational improvement initiatives, a portion of which went on the company’s voluntary separation plan.
The IT company dealing in the health business (Nasdaq: CERN) released a report which showed that their second-quarter (ending on June 29) revenue was $1.431 billion. The North Kansas City-based company recorded a 5% increase for the same period last year. In fact, their second quarter of 2018 had a revenue report of $1.368 billion. They have also reported their 2019 second-quarter bookings to be at the top end of their expected $1.432 billion.
Moreover, Cerner Corp. also publicized their expectations for the third-quarter revenue. They forecast it will be between $1.405 and $1.455 billion. Regarding the whole year 2019, they expect to record revenue from $5.65 to $5.85 billion.