MOBILE, Ala. (AP) _ Computer Programs and Systems Inc. (CPSI) on Friday reported fourth-quarter net income of $7.6 million, after reporting a loss in the same period a year earlier.
The Mobile, Alabama-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The healthcare information technology company posted revenue of $72.3 million in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $74.4 million.
For the year, the company reported net income of $17.6 million, or $1.26 per share, swinging to a profit in the period. Revenue was reported as $280.4 million.
Computer Programs and Systems shares have climbed 15 percent since the beginning of the year. The stock has dropped slightly more than 6 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPSI at https://www.zacks.com/ap/CPSI