Computer Programs & Systems Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Regular Quarterly Cash Dividend, Payable on February 22, 2013; Provides Earnings Guidance for the Fiscal Year 2013; Provides Capex Guidance for the First Quarter of 2013
January 01, 2013 at 03:00 am IST
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Computer Programs & Systems Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total sales revenues of $47.9 million against $42.2 million a year ago. Operating income was $12.36 million against $10.53 million a year ago. Income before taxes was $12.47 million against $10.7 million a year ago. Net income was $9.14 million or $0.83 per diluted share against $6.56 million or $0.59 per diluted share a year ago. Net cash provided by operating activities was $14.25 million against $9.34 million a year ago. Purchases of capital assets were $2.04 million against $9.84 million a year ago. Free cash flow was $12.21 million against free cash outflow of $0.5 million a year ago.
For the year, the company reported total sales revenues of $183.3 million compared with total sales revenues of $173.5 million for the year ago. Operating income was $41.28 million against $41.3 million a year ago. Income before taxes was $41.99 million against $41.96 million a year ago. Net income was $29.97 million or $2.71 per diluted share against $25.83 million or $2.34 per diluted share a year ago. Net cash provided by operating activities was $32.21 million against $33.54 million a year ago. Purchases of capital assets were $4.36 million against $10.85 million a year ago. Free cash flow was $27.84 million against $22.7 million a year ago.
The company announced that its Board of Directors has approved an increase in the regular quarterly cash dividend of $0.05 to $0.51 (fifty-one cents) per share, payable on February 22, 2013, to stockholders of record as of the close of business on February 7, 2013.
For 2013, the company anticipates total revenues of $194.0 million to $206.0 million and net income of approximately $31.0 million to $33.0 million, or $2.80 to $2.98 per diluted share. The company expects tax rate for 2013 of 36%.
The company expects capex of approximately $750,000 for the first quarter and $500,000 per quarter for the remaining quarters in 2013.
TruBridge, Inc. is a provider of healthcare solutions and services for community hospitals, their clinics and other healthcare systems. The Company operates through three segments: RCM, HER and Patient Engagement. The RCM segment focuses on providing a complete revenue cycle management (RCM) solution for all care settings, regardless of their primary healthcare information solutions provider, along with business management, consulting, managed IT services, analytics and business intelligence. The EHR segment provides comprehensive acute care solutions and related services for community hospitals and their physician clinics. The Patient Engagement segment offers comprehensive patient engagement and empowerment technology solutions to improve patient outcomes and engagement strategies with care providers. Its wholly owned subsidiaries include Viewgol, LLC, iNetXperts, Corp. doing business as Get Real Health, Healthcare Resource Group, Inc. and Healthland Holding Inc.
Computer Programs & Systems Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Regular Quarterly Cash Dividend, Payable on February 22, 2013; Provides Earnings Guidance for the Fiscal Year 2013; Provides Capex Guidance for the First Quarter of 2013