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.