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News Release CERNER REPORTS SECOND QUARTER 2021 RESULTS Delivers Strong Results Across All Key Metrics GAAP Operating Margin and Diluted EPS Lower Due to Restructuring Charges Strong Adjusted Operating Margin Expansion and Adjusted Diluted EPS Growth vs. Year Ago Quarter Cerner KANSAS CITY , Mo. - July 30 , 2021 – Cerner Corporation ( Nasdaq : CERN ) today announced results for the 2021 second quarter that ended June 30 , 2021 . " I am very pleased with Cerner's top and bottom - line execution in the second quarter , with our results reflecting good progress on our transformation initiatives and a strengthening market presence , " said Brent Shafer , Chairman and CEO . " We delivered good revenue growth , expanded Adjusted Operating Margin and increased Adjusted Diluted EPS ( non - GAAP ) during the quarter while continuing to accelerate innovation and drive client value . " " During the second quarter we took a series of actions which we believe will strengthen our business in the years ahead . Namely , as part of recently implemented productivity measures and a comprehensive review of our business , we performed a sizable reduction in force , took specific measures to shrink our physical ( office space ) footprint and made some important product rationalization decisions to improve the return on our nearly $ 800 million annual R & D investment , " said Mark Erceg , Executive Vice President and Chief Financial Officer . " We also spent $ 400 million on share repurchases , which brings our year - to - date purchases to $ 750 million , because we continue to believe that Cerner stock , at current trading levels , represents a good return on investment for our shareholders . " 2021 Second Quarter Highlights Revenue of $ 1.457 billion , up 10 % compared to $ 1.330 billion in the second quarter of 2020 , which included the largest impact of the pandemic last year . ● ● GAAP operating margin of 3.4 % , down from 11.0 % in the year - ago quarter , reflecting impacts from employee separation costs , an impairment related to sold and held - for - sale properties , and product rationalization . Adjusted Operating Margin ( non - GAAP ) of 20.6 % , up 220 basis points from 18.4 % in year - ago quarter . GAAP diluted EPS of $ 0.11 , down 75 % compared to $ 0.44 in year - ago quarter . Adjusted Diluted EPS ( non - GAAP ) of $ 0.80 up 27 % compared to $ 0.63 in year - ago quarter . GAAP cash flow from operating activities of $ 369 million , up 43 % compared to $ 259 million in year - ago quarter . Free Cash Flow ( non - GAAP ) of $ 162 million , up 153 % compared to $ 64 million in the year - ago quarter . Future Period Guidance Cerner currently expects : Third quarter 2021 revenue to grow approximately 6 % compared to third quarter of 2020 Full year 2021 revenue growth in the mid - single digits Third quarter 2021 Adjusted Diluted EPS growth of 12 % to 15 % over the third quarter of 2020 Full year 2021 Adjusted Diluted EPS of approximately $ 3.25 , compared to a prior outlook of more than $ 3.20 Full year 2021 Free Cash Flow ( non - GAAP ) of approximately $ 900 million Total 2021 share repurchases of up to $ 1.5 billion