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News Release CERNER REPORTS THIRD QUARTER 2021 RESULTS Delivers Strong Results Across Key Metrics GAAP Operating Margin and Diluted EPS Lower ; Adjusted Operating Margin and Adjusted Diluted EPS Both up Sharply vs. Year - Ago Quarter Full - Year Guidance Increased KANSAS CITY , Mo. - October 29 , 2021 - Cerner Corporation ( Nasdaq : CERN ) today announced results for the 2021 third quarter that ended September 30 , 2021 . " Cerner's strong third quarter and year - to - date results reflect good execution by our leadership team and our talented colleagues around the globe , " said David Feinberg , M.D. , President and CEO . " In the month I have been here , I have been impressed by the dedication and talent at Cerner , and my view has been reinforced that Cerner is well positioned to play an important role in improving healthcare and the clinician and patient experience . " 2021 Third Quarter Highlights Revenue of $ 1.468 billion , up 7 % compared to $ 1.369 billion in the third quarter of 2020 . ● ● ● Cerner ● ● GAAP operating margin of 15.3 % , down from 30.1 % in the year - ago quarter , which included $ 217 million of gains on the sale of businesses . Adjusted Operating Margin ( non - GAAP ) of 21.9 % , up 150 basis points from 20.4 % in year - ago quarter . GAAP diluted EPS of $ 0.59 , down 49 % compared to $ 1.16 in year - ago quarter . Adjusted Diluted EPS ( non - GAAP ) of $ 0.86 up 19 % compared to $ 0.72 in year - ago quarter . GAAP cash flow from operating activities of $ 435 million , up 14 % compared to $ 382 million in year - ago quarter . Free Cash Flow ( non - GAAP ) of $ 312 million , up 32 % compared to $ 237 million in the year - ago quarter . " During the third quarter , we delivered solid revenue growth , expanded Adjusted Operating Margin ( non - GAAP ) by 150 basis points and increased Adjusted Diluted EPS ( non - GAAP ) by nearly 20 % , " said Mark Erceg , Executive Vice President and Chief Financial Officer . " The organizational transformation and productivity measures implemented earlier this year and additional on - going product focus and cost control initiatives are strengthening our business . A clear focus on cash generation is also having a positive impact as evidenced by a 32 % increase in Free Cash Flow ( non - GAAP ) for the quarter . The increase in Free Cash Flow ( non - GAAP ) and our strong balance sheet allowed us to repurchase $ 375 million of shares during the quarter , which brings our year - to - date purchases to $ 1.1 billion . " Future Period Guidance Cerner currently expects : Fourth quarter 2021 revenue to grow upper - mid - single digits compared to fourth quarter of 2020. This would bring full - year revenue growth to approximately 5 % , consistent with prior guidance for mid - single - digit growth . Fourth quarter 2021 Adjusted Diluted EPS growth of 10 % to 13 % over the fourth quarter of 2020. The high end of this range would bring full - year Adjusted Diluted EPS to $ 3.30 , which compares to prior guidance of approximately $ 3.25 . Full year 2021 Free Cash Flow ( non - GAAP ) of more than $ 950 million , compared to prior guidance of approximately $ 900 million . Total 2021 share repurchases of up to $ 1.5 billion .